April 10, 2007, New York, NY – MTS Health Investors, LLC (“MTS”) and Oaktree Capital Management, LLC (“Oaktree”) today announced the formation of Novis Pharmaceuticals, LLC, a new company that will distribute biotherapeutic products to healthcare providers. Funds under the management of MTS and Oaktree formed Novis Pharmaceuticals and provided equity capital for the new company and its acquisition of certain assets of a specialty drug distributor.
This transaction positions Novis Pharmaceuticals as a leading national distributor of some of the world’s leading plasma-derived products such as albumin, immune globulin, hyperimmunes and anti-hemophilic Factors VII, VIII and IX. Hospitals, home infusion therapy companies and other healthcare providers use these biotherapeutics to treat trauma, autoimmune conditions, immune deficiencies, infectious diseases, bleeding disorders, and other life-threatening conditions. Terms of the transaction were not disclosed.
Based in Miami, FL, Novis Pharmaceuticals has a network of five strategically-located distribution points across the U.S. and Puerto Rico. In addition, the company’s 50-person sales force is among the industry’s leading sellers of biotherapeutic products and possesses broad and long-standing customer relationships.
Jay J. Levin, 46, an Operating Partner at MTS, has joined Novis Pharmaceuticals as Executive Chairman. Previously he was President of Magellan Health Services, Executive Vice President of Oxford Health Plans and Chief Executive Officer of PPOM.
“Novis is committed to providing industry-leading standards of quality and exceptional service to its customers,” Mr. Levin said. “To meet customer and patient needs, we will offer same-day delivery of medications and 24/7 customer service.”
Oliver T. Moses, Managing Director of MTS Health Investors said, “MTS and Oaktree welcome the opportunity to provide financial backing for this premier distributor in a growing industry segment. We are eager to support Novis’s commitment to be the industry’s most reliable and trusted source for quality biotherapeutics.”
The market for plasma-derived products is estimated to generate approximately $2 billion in annual sales in the U.S., and approximately $6 billion worldwide. The market is expected to maintain its recent growth rate of approximately 7% a year, driven by new clinical applications and the aging population.
MTS Health Investors, LLC, located in New York, is a healthcare private equity firm that makes equity investments in the buyout, recapitalization or growth financing of healthcare operating companies. MTS focuses on businesses that operate in services sectors of the healthcare industry – managed care/health insurance, providers of healthcare services, distributors of medical products and providers of outsourced services to the healthcare industry. The firm also invests in manufacturers of low-technology medical products. For further information, please visit: www.mtshealthinvestors.com.
Oaktree was founded in 1995 and is headquartered in Los Angeles, California. It is an independent investment management firm with over $37 billion of assets under management in specialized investment strategies. These strategies include private equity, distressed debt, high yield bonds, convertible securities, Asian and emerging market equities, real estate, and mezzanine debt. Oaktree’s institutional clients include Fortune 100 companies, large public pension funds, university endowments, private foundations and high net worth individuals. In addition to Los Angeles, Oaktree has offices in New York, Stamford, Tokyo, Singapore, Hong Kong, Beijing, London, Frankfurt and, through fund affiliates, Luxembourg.
Owen Blicksilver Public Relations, Inc.