Entelos Announces Recapitalization and Significant Capital Infusion to Drive Future Growth
Provider of Predictive Computer Modeling to Pharmaceutical and Consumer Products Companies Positioned to Take Advantage of Significant Growth Opportunities
SAN MATEO, Calif.--Entelos Holding Corporation ("Entelos" or the "Company"), a premier provider of in silico modeling and simulation products and services that help pharmaceutical and consumer product companies make informed decisions in their product development process, today announced that it has completed a recapitalization and has received a significant capital infusion led by Clearlake Capital Group, L.P. ("Clearlake") with participation by the Company's existing investor, Imperium Partners Group, LLC ("Imperium").
"This completes a transformation undertaken over the past six months to restructure Entelos and position the Company for future growth," said Shawn O'Connor, CEO of Entelos. "This funding provides the Company with a strong financial foundation to support the continued delivery of our unique in silico modeling and simulation products and consulting services, invest in and continue developing our products and services, and extend the reach of our sales and marketing. Importantly, it brings to Entelos a second strong and experienced investment partner to support our future success. I am very pleased with our progress and look forward to many years of continued success."
For over 15 years, Entelos has been a premier provider in the field of in silico modeling and simulation products and services that support pharmaceutical companies in achieving greater efficiency while they navigate the complex labyrinth of drug development. During 2011 with the financial support of Imperium, the Company undertook a number of steps to position itself for future growth: In July, the Company transitioned its Board of Directors and senior management team with experienced proven industry leadership. In July through September, the Company entered into and successfully exited from Chapter 11 bankruptcy. Today's new financing provides the Company with additional capital necessary to strengthen its balance sheet and execute its business strategy.
Steve Chang, Clearlake Founding Partner, said, "We are excited about our new partnership with Entelos, which offers the best-in-class technology and scientific talent. With a strong management team, a clear market vision in a new healthcare environment and improved financial resources, we believe the Company is poised to take advantage of growth opportunities as pharmaceutical and consumer product companies look to improve their product development capabilities."
John Michaelson, founder of Imperium, added, "We are excited about the partnership with Clearlake. Clearlake brings to Entelos considerable financial strength but also industry knowledge and relationships. We believe that, with these added resources, the outstanding new management team at Entelos is well positioned to maintain its leadership position in modeling and simulation and ensure that Entelos continues in the forefront of the exciting and rapidly emerging area of personalized medicine."
Mr. Chang and Prashant Mehrotra, a Vice President at Clearlake, have joined the Company's Board of Directors.
Entelos is an in silico modeling and simulation software and services company delivering advanced predictive technologies that dramatically lower the risk, time, and cost of product development in the pharmaceutical, healthcare, nutrition and consumer markets. The Company's PhysioLab® platforms, in depth systems biology data and models, and virtual individual patient and population human technology provide highly predictive analyses to assist our customers develop safer and more effective drugs, foods and consumer products. Entelos' understanding of the drivers of patient variability has significant application to the emerging field of personalized medicine. The Company is headquartered in San Mateo, California. For more information, please visit www.entelos.com.
Clearlake is a private investment firm focused on special situations private equity such as corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in businesses going through change. Clearlake's founding principals have led over 50 investments totaling more than $2.7 billion of capital in sectors including business services, communications and media, energy and power, healthcare, manufacturing, retail/consumer, and technology. For more information, please visit www.clearlakecapital.com.
Imperium is a private investment firm that focuses on assisting great management teams to achieve their objectives. Founded in 2005, Imperium provides growth capital to companies in the technology and healthcare sectors and invests in special situations including management buyouts and restructurings. The partners of Imperium have led over 100 transactions totaling more than $2.0 billion. For more information contact us at 646-747-3460.
Contacts
For Entelos:
Wendy Shelton, 650-572-5430 (Media)
[email protected]
or
For Clearlake:
Owen Blicksilver Public Relations, Inc.
Kristin Celauro, 732-264-1131
[email protected]
Jennifer Hurson, 845-507-0571
[email protected]