H.I.G. Capital completed a strategic equity investment via one of its affiliates into Rising Pharma Holdings and Casper Pharma, owner of generic and specialty drugmaker Rising Pharmaceuticals. The value of the transaction was not disclosed.
Rising Pharmaceuticals operates with an asset-light model, focusing on the development, regulatory and marketing aspects of the product life cycle while outsourcing manufacturing to a network of 23 strategic partners. The company is based in New Brunswick, New Jersey, and currently has a diversified portfolio of more than 125 products.
H.I.G. has partnered with Rising Pharmaceuticals CEO Vimal Kavuru to build on the company’s track record of growth and to support new initiatives. “We see a major opportunity in the broader U.S. generic pharmaceutical industry, and the Company’s track record of identifying, developing and launching complex pharmaceutical products should create an exciting next chapter for Rising Pharmaceuticals,” said H.I.G Managing Director Mike Gallagher.
Miami-based H.I.G. has over $45 billion of equity capital under management. The firm’s previous investments in the healthcare sector include UK generic and branded specialty drugmaker Aspire Pharma, contract development and manufacturing company BioVectra, pharmaceutical compounder Leiters and Taconic BioSciences, a provider of genetically engineered rodent models and services.