Arrowhead was advised by Crosstree Capital Partners, Inc., and represents Crosstree's fourth transaction with UBC and its thirteenth pharmaceutical technology and technology-enabled solutions transaction.
Please direct inquiries to:
Shane C. Senior, CFA
Crosstree Capital Partners, Inc.
Crosstree Capital Partners Assists Pharmaceutical Technology Specialist Arrowhead Electronic Healthcare with Sale to MedCo
Austin, Texas – July 28, 2011 – Arrowhead Electronic Healthcare, LLC was founded in 1999 and is widely recognized as the leading technology provider of electronic patient reported outcomes (ePRO). Arrowhead’s products enable a patient in a clinical trial to report his or her status via smartphones, tablet computers, the Web and text messaging. Such technology has become increasingly important for pharmaceutical companies to gather endpoint data for use in quantifying patient outcomes, making labeling claims, and differentiating drugs from competing products.
Arrowhead was acquired by the newly formed Bracket division of United Biosource Corporation (UBC), a wholly owned subsidiary of MedCo Health Solutions, Inc. MedCo is a Fortune 50 company providing pharmacy benefits management, which recently announced its intent to combine with Express Scripts. Arrowhead was represented by Crosstree Capital Partners, Inc., and represents Crosstree’s fourth transaction with UBC and its thirteenth pharmaceutical technology and technology-enabled solutions transaction.
“With changes in healthcare legislation, and continued drug pricing pressures throughout the world, outcomes solutions remain a beacon of profitable growth for contract resource organizations in an otherwise challenging market,” said Shane Senior, Managing Director of Crosstree. “I believe Arrowhead will enable Bracket to integrate the market’s most technology-advanced ePRO solution with Bracket’s leading interactive voice response services solution to provide the industry’s first fully-unified patient response technology platform. This acquisition extends Bracket’s unique capability of helping pharmaceutical clinical trial sponsors and contract research organizations achieve greater certainty and more accurate outcomes. UBC continues to raise the bar and set the pace for competitiveness within the market. Competitors have a lot of catching up to do.”
“Although Arrowhead and Bracket are a natural strategic fit and have a long history of working together, I don’t believe this transaction could have been successful without the specialized services provided by CrossTreeCrosstree. Throughout the process, CrossTree Crosstree provided the expert guidance, detailed information and world-class communications we needed in order to make clear decisions. It’s refreshing to find bankers as passionate about their business and as true to their word as we are about ours at Arrowhead, now Bracket.”
About Crosstree Capital Partners
Crosstree Capital Partners is a specialty advisory firm with a dedicated focus on select subsectors of the life sciences and healthcare industries, including drug and device outsourcing, diagnostic products and services, life sciences tools, medical technology, and healthcare information technology. Within these subsectors, Crosstree assists clients with corporate finance activities, including mergers and acquisitions advisory and growth capital financings. Crosstree's deep sector coverage offers clients unique industry insights, well-established strategic relationships across the globe and superior access to the capital markets. While Crosstree draws distinct industry lines of coverage, the firm has no geographic boundaries. Crosstree has advised clients throughout North America, Europe, India, China, Latin America and Australia. Crosstree Capital Partners, Inc. is an affiliate of Crosstree Capital Securities, LLC, which is a member of FINRA and SIPC. Crosstree’s website is http://www.crosstreecapital.com.
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