Eamon Murphy
Renaissance Acquisition Holdings, LLC, a portfolio company of RoundTable Healthcare Partners, agreed to sell its topical pharmaceutical division to Mylan N.V. for $950 million in cash at closing. Additional contingency payments could total $50 million. Mylan is a global generic and specialty pharmaceutical company. Private equity firm RoundTable focuses exclusively on the health-care industry and started Renaissance in 2010 following a pair of acquisitions.
To wrap up your Thursday, Brazilian president Dilma Rousseff lost power, at least temporarily, while France's François Hollande survived a vote of no-confidence. Meanwhile, Obamacare suffered a setback in federal court.
Mark Barnard will step down as managing director of private investments for the Howard Hughes Medical Institute (HHMI) endowment, effective June 2016. He has been with the institute since 1995.
Endeavour Vision led a $25 million Series D financing round in EndoStim, Inc., a medical device company with a neurostimulation therapy for acid reflux. The treatment is currently available in Europe, Latin America, and Asia Pacific, but has not been approved for sale in the U.S. The funding will go in part towards clinical trials. New investors Wellington Partners and Gimv also participated in the funding.
IBM acquired Bluewolf Group LLC, a portfolio company of Riordan, Lewis & Haden Equity Partners. Bluewolf provides cloud computing services, primarily in its capacity as a consulting partner of Salesforce.com.
Ironshore Pharmaceuticals (America) Inc., the U.S. subsidiary of pharmaceutical company Highland Therapeutics Inc., appointed Craig S. Lewis as president. Lewis, formerly SVP at Assurex Health, has been a member of IPA's board of directors since August 2015, and will retain that role. Highland is backed by Eastern Capital Limited, which led a $50 million financing in June 2015.
Advanced Medical Personnel Services, Inc., a portfolio company of Clearview Capital Fund III, L.P., completed its acquisition of San Francisco-based Rise Medical Staffing, LLC. Rise provides travel nurse staffing to healthcare facilities in the U.S.
Cloud service company Evolve IP announced a majority investment from Boston-based Great Hill Partners. Terms of the transaction were not disclosed. Founded in 2007, the company is active in 15 countries, and will use the new capital to expand its national distribution channels.
Media and communications private equity firm ZMC completed a majority stake investment in Education Networks of America, Inc., a provider of data and communication services to school and libraries, out of ZMC II, L.P. ZMC partner Andrew Vogel will become the company's chairman. Terms of the transaction were not disclosed.
Littlejohn & Co., LLC agreed to sell DCLI, a provider of chassis equipment and asset management services to the U.S. intermodal industry. The buyer is EQT Infrastructure II. Littlejohn formed DCLI in 2012 following the acquisition of assets from Maersk Inc.