HMP Communications Holdings, LLC Announces Susquehanna Growth Equity, LLC as Majority Equity Holder
Malvern, PA (PRWEB) December 16, 2015 -- HMP Communications Holdings, LLC, a leading provider of healthcare content and continuing medical education events, announced today changes to its investor structure.
The holdings company has completed an agreement with Susquehanna Growth Equity, LLC (SGE), under which current investors, Alta Communications and Antares Capital, have sold their interests in HMP to SGE, a private equity group and existing investor. With the sale, SGE becomes HMP’s majority equity holder.
"We are extremely grateful to Alta Communications and Antares Capital for their support and guidance over the past several years,” said Jeff Hennessy, chairman and chief executive officer, HMP Communications Holdings, LLC. “We are also incredibly invigorated by the expanded investment from SGE. We're excited to leverage SGE’s expertise, reach and resources to create a leading global business that will deliver an even broader portfolio of rich content, live events and medical education to continue improving patient care."
“We focus on investing in and working with dynamic companies that possess passionate, entrepreneurial leadership,” notes Scott Feldman, managing director of SGE and HMP board member since 2008. “HMP has been an excellent strategic fit for our portfolio over the last seven years. The company has achieved impressive results in its vertical and has a strong mission and winning business strategy. We are enthusiastic about our expanded investment and look forward to our continued involvement with the company.”
This complementary relationship will bolster HMP’s growth strategy of a multi-channel approach to healthcare education and engagement. HMP’s portfolio of content, 250+ annual live events and continuing medical education covers six therapeutic areas, from psychiatry to interventional cardiology.
HMP’s content and education are pegged to both emerging healthcare trends and changing clinician needs. Recent launches, including the Journal of Clinical Pathways and the Patient-Centered Medical Home Congress, were developed in response to the growing focus on value-based care.
Each segment in which HMP operates offers significant growth potential. The global wound care market is expected to reach $18.3 billion by 2019 from $15.6 billion in 2014(1), and the global interventional cardiology market is expected to reach $26 billion by 2019, up from $18 billion in 2014.(2)
Berkery, Noyes & Co., LLC served as financial advisor to HMP Communications Holdings, LLC for the transaction.
About HMP Communications Holdings, LLC
HMP Communications Holdings, LLC (HMP), a collaborative formed by HMP Communications, LLC and the North American Center for Continuing Medical Education, LLC (NACCME), is a multi-channel leader in healthcare content and education, with a mission to improve patent care. The company produces clinically relevant, evidence-based journals, events and accredited, continuing education for the healthcare community, across a range of therapeutic areas. Its brands include Consultant, the monthly, award-winning journal relied upon by primary care practitioners and the Symposium on Advanced Wound Care (SAWC), the largest wound care meeting in the world. For more information, visit http://www.hmpholdings.com.
About Susquehanna Growth Equity, LLC
Susquehanna Growth Equity, LLC (SGE) invests in growth stage companies in the information services, internet and software sectors. The firm is backed by a unique and patient capital base that allows management teams the freedom and flexibility to maximize growth. Notable prior investments include MMIT (healthcare data aggregator), Zyme Solutions (channel intelligence information provider) and Outbrain (content recommendation engine). To learn more, please visit us at http://www.sgep.com.
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1. Markets and Markets: “Wound Care Market by Type – Global Forecast to 2019,” August 2014.
2. Markets and Markets, “The Interventional Cardiology & Peripheral Vascular Devices Market – Forecast to 2019,” June 2015.
Kelly McCurdy, HMP Communications Holdings, LLC, http://www.hmpcommunicationsholdings.com, +1 610.560.0500 Ext: 304, [email protected]
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