Francisco Partners Announces Successful Sale of TRC Healthcare
Press Releases — Sep 05, 2017
Partnering with Founders
SAN FRANCISCO -- Francisco Partners (FP), a leading technology-focused private equity firm, today reported the successful closing of the sale of Therapeutic Research Center (TRC) to Levine Leichtman Capital Partners (LLCP).
During its ownership of TRC, FP supported the Company’s expansion deeper into the pharmacy arena and across the provider ecosystem. Nearly 500,000 healthcare professionals now rely on TRC’s medication advisory and education content to access concise, unbiased, and timely drug recommendations and clinical resources.
“It’s been a pleasure to partner with TRC founder Jeff Jellin, CEO Wes Crews, and the entire management team to help TRC grow,” said Chris Adams, partner at Francisco Partners. “TRC’s unique medication advisory solutions make a tremendous impact on healthcare as they help pharmacists, pharmacy technicians, nurses, and physicians practice better, safer, more effective care. We wish the company and LLCP all the best in their next chapter of growth.”
“Francisco Partners has been a great partner to TRC,” added Wes Crews, “FP’s deep healthcare technology experience and their expertise in helping founder-built businesses continue to grow has been very valuable to us as we have expanded our product portfolio and customer base.”
William Blair & Company served as financial advisor and Paul Hastings LLP served as legal advisor to TRC for the transaction. TRC is a leading provider of medication advisory and learning solutions for pharmacists, pharmacy technicians, prescribers, nurses and other clinicians. TRC was founded in 1985 and is headquartered in Stockton, CA.
About Therapeutic Research Center (TRC)
TRC is the leading provider of digital medication learning that updates, informs, and educates healthcare providers across the continuum of care. In addition to its highly regarded Pharmacist’s Letter, Prescriber’s Letter, Pharmacy Technician’s Letter, Nurse’s Letter and Natural Medicines online resources, TRC provides additional online solutions for hospital and community clinicians that expand on its trusted recommendations, such as drug comparison charts, patient education handouts, FAQs, and tutorials in its web-based products. Nearly 500,000 healthcare professionals rely on TRC’s advisory and education service to access concise, unbiased, timely information to improve medication use, prevent medication errors, and improve overall patient care, quality and outcomes.
About Francisco Partners
Francisco Partners is a leading global private equity firm, which specializes in investments in technology businesses. Since its launch over 17 years ago, Francisco Partners has raised over $10 billion in capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry. The firm invests in opportunities where its deep knowledge and operational expertise can help companies realize their full potential.
ABOUT TRC HEALTHCARE
TRC Healthcare offers a broad portfolio of unbiased, evidence-based, drug therapy recommendations and advisory services, including Pharmacist’s Letter, Prescriber’s Letter, and Pharmacy Technician’s Letter. The Company also has developed the leading dataset on natural medicines, Natural Medicines Comprehensive Database, and Pharmacy Technicians University, an online tool for the training and certification of pharmacy technicians. TRC Healthcare's online education platform is helping lead the broader technology transformation in professional healthcare education.