CHICAGO and NEW YORK, April 18, 2018 /PRNewswire/ -- Water Street Healthcare Partners, a strategic investor focused exclusively on the health care industry, and JLL Partners, a leading middle-market private equity firm, announced today that they have signed an agreement to acquire Triplefin. An industry leader in patient support for more than 30 years, Triplefin is the latest company to join the investment firms' growing life sciences commercialization services platform.
The addition of Triplefin to the life sciences platform will significantly expand the platform's patient-centered capabilities. Headquartered in Cincinnati, Ohio, Triplefin specializes in pharmaceutical hub services, including its Hub-Lite® and co-pay programs which are dedicated to improving the patient experience. The company's suite of digital capabilities, including its industry-leading Rx365® technologies, coupled with its customer service expertise, provides patients with personalized support to enhance their therapeutic success.
"We are thrilled to add this fast-growing, customer-focused business to our platform," said Jim Lang, executive chairman of the platform. "Triplefin brings to us a powerful combination of innovative solutions. Our platform now offers customers end-to-end, best-in-class solutions that will help them successfully engage with every major constituent — regulators, payers, providers, channel partners and patients – to maximize the impact of new therapies. The era of value-based, patient-centered solutions has come, and we aspire to be the industry's partner of choice."
Triplefin follows the platform's recent acquisitions of Dohmen Life Science Services in March, as well as The Access Group, Health Strategies Group and Alliance Life Sciences over the past 18 months. Together, these businesses will offer customers a comprehensive portfolio of solutions, including channel, market access, patient support and compliance to improve the speed and success of bringing complex therapies to market. As one entity, the newly expanded platform will employ nearly 1,500 global professionals who will serve more than 300 of the industry's top biopharmaceutical and medical device companies.
"These are truly exciting times for Triplefin as we continue to experience unparalleled growth," said Sandy Piscitello, president, Triplefin. "Now, we move toward our next step of joining forces with Water Street and JLL's life sciences platform to strengthen our position in the marketplace and bring our clients an exceptional portfolio of commercialization solutions."
Dale Smith, chairman & CEO of Triplefin's current owner, H. D. Smith Holding Company, added, "We have been proud owners of Triplefin for the past five years and are excited to see the company enter its next chapter. We chose JLL and Water Street as the best partners for Triplefin based on their strong track record of building market-leading companies that put employees and customers first."
Triplefin will continue to operate under its existing name and management team. Sandy Piscitello will continue to lead Triplefin and report to Mr. Lang. The acquisition is expected to close by the end of the second quarter. Financial details are not being disclosed.
A market leader in patient support for more than 30 years, Triplefin delivers comprehensive hub services that improve patient access and adherence, including its patent-pending Rx365® suite of digital solutions. Triplefin's programs help thousands of patients with serious diseases, offering hope and improved well-being. Its associates are dedicated to providing an empathetic, caring experience throughout a patient's journey. The company is headquartered in Cincinnati, Ohio. For more information, visit www.triplefin.com.
JLL Partners is a leading middle-market private equity firm with a 30-year track record of building and transforming businesses through its financial and operational expertise. Since its founding in 1988, JLL Partners has committed approximately $5 billion across seven funds sourcing its deals from a deep network of industry contacts and creating value for its partners and investors. The firm is headquartered in New York. For more information about JLL Partners, visit jllpartners.com.
Water Street is a strategic investor focused exclusively on health care. The firm has a strong record of building market-leading companies across key growth sectors in health care. It has worked with some of the world's leading health care companies on its investments including Johnson & Johnson, Medtronic, Smith & Nephew and Walgreen Co. Water Street's team is comprised of industry executives and investment professionals with decades of experience investing in and operating global health care businesses. The firm is headquartered in Chicago. For more information about Water Street, visit waterstreet.com.
Triplefin, headquartered in Cincinnati, Ohio, is operating as a wholly owned subsidiary of H. D. Smith. A leading pharmaceutical brand support company for 33 years, Triplefin removes barriers to patient access and adherence with innovative products and services. Together with H. D. Smith, Triplefin provides an end-to-end solution that includes the Rx365™ Suite of Digital Solutions (benefit verification and prior authorization), patient assistance, patient reimbursement and patient adherence programs, co-pay and voucher solutions, sample fulfillment and sampling solutions, pharmacy services, third party logistics and National Specialty Pharmacy Nursing Network (SPNN).
Today, more than 50 pharmaceutical manufacturing companies (including 11 of the top 15), representing more than 150 brands across multiple therapeutic categories, partner with Triplefin to create strategic programs for patient access. Please visit www.triplefin.com.