ProPharma Group Acquired by Private Equity Firm
Overland Park’s ProPharma Group has been acquired by Linden Capital Partners, a private equity firm located in Chicago.
“We are excited to partner with Linden. Their health care expertise and proven track record makes them the right partner as we embark on the next phase of our growth strategy,” said Jeff Hargroves, ProPharma Group’s founder, chief executive officer and president. “Linden understands our culture, market and customers, and can support our company with both organic growth and acquisition initiatives.”
Some of the world’s biggest biopharmaceutical companies have hired ProPharma, which provides outsourced medical information, pharmacovigilance and regulatory compliance consulting services. The company was founded in 2001 and has locations in North and South America, Australia, Asia and Europe.
ProPharma’s current management will keep a “significant” minority ownership stake in the business.
“Our investment in ProPharma Group is consistent with Linden’s strategy of establishing dedicated subsector teams in collaboration with our operating partners with the goal of identifying industry leading companies,” said Tony Davis, Linden’s president and managing partner.
“We commend Jeff Hargroves and his colleagues on their vision and success to date, and look forward to partnering with the entire team as we accelerate growth in the company’s existing and new markets.”