Los Angeles, California – Avante Mezzanine Partners (“Avante”) announced today that it has provided subordinated debt and an equity co-investment to Therapeutic Research Center (“TRC” or the “Company”), a portfolio company of Francisco Partners. TRC is the leading advisory service to pharmacists and physicians on new developments in drug therapy, medication management, and dispensing information. TRC’s offering includes Pharmacist’s Letter, Prescriber’s Letter and Pharmacy Technician’s Letter. The Company has also developed the leading dataset on natural medicines, Natural Medicines Comprehensive Database, and Pharmacy Technicians University, a web-based learning management and content platform for the training and certification of pharmacy technicians.
“We were impressed with TRC’s leading market position, talented management team and long-standing reputation as the provider of the most trusted, unbiased, evidence-based drug therapy and medication management advice,” said Natasha Fox, Partner of Avante. “Francisco Partners has a long track record of success and significant experience investing in technology-enabled businesses,” added Paul Hayama, Principal of Avante. “We look forward to partnering with them and supporting the Company’s future growth.”