Abacus Finance Group provided the senior debt financing, and Boathouse Capital and CMS Mezzanine provided the subordinated debt financing.
The investment is designed to help the company grow organically and through acquisitions. Following the acquisition, the senior management will continue in their current operating roles and will maintain a minority ownership position in the company.
Based in New Hope, PA, BioPharm Communications specializes in providing non-personal, peer-to-peer solutions to the pharmaceutical and biotechnology industries. Led by co-founder and CEO Jeff Persinger, BioPharm develops promotional medical education programs in collaboration with key opinion leaders and delivers it to healthcare practitioners through its suite of proprietary branded programs and multi-channel capabilities, including targeted direct mail, e-mail, web hosting, web banners/display advertising, search engine marketing, DVDs, mobile devices, selling kits, e-meetings and teleconferences.