New York-based Avista Capaital Partners announced Monday it has made a majority investment in Vertical / Trigen Holdings, parent company of Vertical Pharmaceuticals and Trigen Laboratories, both based in Sayerville. Financial terms were not disclosed.
According to the announcement, Avista is partnering with co-founders Steven Squashic, Kevin Hudy, and David Purdy, who will remain in place and retain a significant minority ownership stake in the company. Moving forward, both Vertical and Trigen will continue to offer their full existing product lines as the company pursues new opportunities for strategic growth. Brian Markison, a healthcare industry executive at Avista, has joined the company's board of directors as executive chairman.
Vertical / Trigen is a specialty pharmaceutical company engaged in the development, marketing, and distribution of both branded and generic prescription pharmaceuticals. Vertical, the segment of the company focused on branded pharmaceuticals, specializes in women's health, pain management, and respiratory and allergy medications, the company said in a statement.
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