RoundTable Attracts Chief Executive and Chief Financial Officers to CorePharma
New Leadership Executives Will Complement Founding Management Team
LAKE FOREST, IL, August 15, 2005 — RoundTable Healthcare Partners (“RoundTable”), an operating-oriented private equity firm focused on the healthcare industry, announced today that its portfolio company, CorePharma Holdings, Inc., (“CorePharma”), a leading developer and manufacturer of solid dose generic pharmaceuticals, has appointed two new executives to its management team. Gregory Young has been appointed to the position of Chief Executive Officer and John Johnsen has been appointed to the position of Chief Financial Officer. Messrs. Young and Johnsen will complement the existing operational management team, all of whom will continue to serve in their current capacities.
Before joining CorePharma, Mr. Young was previously the President and CEO of Neopharm, Inc., a pharmaceutical company focused on cancer research. Prior to his position at Neopharm, Mr. Young held a variety of leadership positions at Baxter International for more than 19 years. Mr. Johnsen also previously worked at Baxter International and American Hospital Supply Corporation, maintaining a variety of senior financial leadership roles over his 31-year career history. While with Baxter International, both Messrs. Young and Johnsen worked closely with Jack McGinley, a founding partner of RoundTable.
Earlier this month, RoundTable acquired a majority interest in CorePharma where Mr. McGinley now serves as the Chairman of the Board. “We are excited to welcome Greg Young and John Johnsen to the CorePharma team,” said Mr. McGinley. “Both Greg and John are superb executives with a wealth of industry experience, expertise, and insight. CorePharma has experienced explosive growth over the past several years, and we believe that it is important to complement the Company’s highly-talented management team with additional executive resources to help manage and maintain this growth. Creating these new management positions and filling them with top-notch executives is an essential element of our plan to broaden the depth of CorePharma’s leadership base. This will benefit the Company and position CorePharma to continue to build upon and accelerate its growth.”
“I am very pleased about the opportunity to work with CorePharma, and their exceptional team, including Dr. Dhaduk, Rasik Gondalia, Mukti Gande, and Madhu Kothapalli,” said Mr. Young. “This Company has an impressive track record and tremendous potential. John and I look forward to working with our new colleagues to execute CorePharma’s growth strategy. We are also very excited to again work with the RoundTable team, whom we have known for many years.”
CorePharma is a leading developer and manufacturer of solid dose generic pharmaceuticals. Formed in 1998, and presently employing over 120 people, the Company currently has a portfolio of 21 approved ANDA products on the market, and a strong pipeline of over 30 additional products in various stages of development. CorePharma’s products span the spectrum of therapeutic specialties, and include pain relief medications, antibiotics, muscle relaxants, and anti-inflammatory medications. More information about CorePharma can be found at www.corepharma.com.
RoundTable Healthcare Partners, Lake Forest, IL, is an operating-oriented private equity firm focused exclusively on the healthcare industry. The partners of RoundTable have significant experience in managing, operating, acquiring and financing multibillion-dollar diversified healthcare companies. RoundTable partners with companies that can benefit from its extensive industry relationships and proven operating and transaction expertise. RoundTable currently manages two equity funds totaling $900 million in capital. More information about RoundTable Healthcare Partners can be found at www.roundtablehp.com.