IRVINE, Calif.--(BUSINESS WIRE)--
Opus Bank (“Opus”) (Nasdaq: OPB) announced today that its Merchant Banking division, through Opus Financial Partners, served as financial advisor to ProPharma Group Holdings, LLC (“ProPharma Group”), a leading provider of outsourced medical information, pharmacovigilance, and compliance consulting services to customers in the pharmaceutical, biotechnology, and medical device industries, in its sale to Linden Capital Partners (“Linden”), a Chicago-based private equity firm focused exclusively on leveraged buyouts in the healthcare and life sciences industries.
Jeff Hargroves, Founder, Chief Executive Officer and President of ProPharma Group stated, “We are excited to partner with Linden. Their healthcare expertise and proven track record makes them the right partner as we embark on the next phase of our growth strategy. Linden understands our culture, market and customers and can support our Company with both organic growth and acquisition initiatives.”
Paul Kacik, Managing Director and Head of Healthcare Merchant Banking at Opus Financial Partners added, “ProPharma Group has a long-standing history of providing a uniquely differentiated and comprehensive suite of services for clients in the pharmaceutical and life sciences industries. We are very pleased to have had the opportunity to work with the ProPharma team and guide them through this important milestone. We look forward to following Jeff Hargroves and the entire ProPharma Group management team as they partner with an exceptional group of operating and investment professionals at Linden and continue to grow and realize their long-term vision for the company.”
About ProPharma Group
ProPharma Group is a leading provider of medical information, pharmacovigilance, and compliance consulting services to clients in the pharmaceutical, biotechnology and medical device industries. The Company provides outsourced Medical Information and Pharmacovigilance services to respond to product-related medical information inquiries from both medical professionals and patients. ProPharma Group also processes and analyzes adverse events for clinical and commercial activities in over 30 languages through five contact centers located across the world. Through its Compliance Consulting division, ProPharma Group provides an array of services to pharmaceutical and medical device companies as they navigate the highly regulated product life cycle. Compliance Consulting services include quality assurance and compliance services, commissioning and qualification, program management, computer system validation, and related services.
About Opus Bank’s Merchant Banking Division
Opus Bank’s Merchant Banking division is an integrated principal investing and financial advisory platform that provides a broad range of direct investment and advisory solutions to lower middle-market companies. The Merchant Banking division includes Opus Equity Partners, LLC, Opus’ wholly-owned subsidiary that advises the Opus Equity Partners Opportunity Fund I, a private equity SBIC Fund that provides growth capital to successful and dynamic companies in need of a capital solution beyond what is customarily available from traditional bank sources. The Merchant Banking division also includes Opus Financial Partners, LLC, Opus Bank’s wholly-owned registered broker-dealer, that provides advisory solutions to lower middle-market companies for mergers & acquisitions, leveraged buy-outs, growth equity capital, junior and senior debt, recapitalizations and other broad transactional support to assist companies in their business development efforts. Disclosure: Opus Financial Partners, Member FINRA and SIPC, is a registered broker dealer, and wholly-owned subsidiary of Opus Bank. The information contained, herein, is for informational purposes only and does not represent a solicitation or recommendation to transact securities activities nor constitutes tax, legal, or financial advice; please contact your tax, legal, or financial professional regarding such advice. Clients or potential clients are advised to perform their own due diligence in choosing any investment opportunity. Investments may involve risk and past performance is not indicative of future results. Investments are not FDIC insured, not bank guaranteed, and may lose value.
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About Opus Bank
Opus Bank is an FDIC-insured California-chartered commercial bank with $7.7 billion of total assets, $6.3 billion of total loans and $6.5 billion in total deposits, as of September 30, 2016. Opus Bank provides superior ideas and solutions, and banking products to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy, and performance improvement through its Merchant Banking Division and its broker-dealer subsidiary, Opus Financial Partners, LLC. Opus Bank’s subsidiary, PENSCO Trust Company, is a leading tech-enabled alternative asset IRA custodian with over $12 billion of custodial assets and over 48,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers, and financial advisors. Opus Bank operates 56 banking offices, including 32 in California, 21 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona, and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website: www.opusbank.com.
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