Oak Hill Capital and life sciences industry leader Dan Renick team up to create new organization offering integrated commercialization solutions.
NEW YORK, Feb. 1, 2023 /PRNewswire/ -- Oak Hill Capital, a New York-based middle-market private equity firm, announced today that it has partnered with Dan Renick to launch Petauri Health ("Petauri" or "the Company"), a purpose-built pharmaceutical commercialization services platform. Petauri Health, based in New York, New York, will seek to acquire and combine best-in-class companies with recognized expertise in global market access, medical affairs, patient services, and data and analytics. The resulting Petauri platform will strive to seamlessly support clients with data-driven, digital-forward solutions that speed patient access to life-changing care. Oak Hill aims to deploy in excess of $250 million of equity capital from its latest fund (OHCP VI) behind this initiative over time.
As CEO, Renick brings more than 28 years of healthcare knowledge, executive leadership and commercialization expertise to the newly formed Company. Commenting on the state of the industry, Renick said, "The timing to form Petauri Health alongside Oak Hill could not be more critical as the remarkable pace of innovation continues to strain global healthcare budgets, resulting in unfulfilled benefits for patients with pressing medical needs." He continued, "Once assembled, Petauri's diverse and accomplished industry experts will partner with clients across numerous commercialization domains to overcome marketplace barriers and speed access to medical advances."
Prior to forming Petauri Health, Dan was a founding executive and President of Precision Value & Health following their acquisition of Hobart Group Holdings in 2013. Under his leadership, Precision Value & Health experienced outsized organic growth, completed numerous strategic acquisitions, and received multiple industry awards. Previously, Renick served as Director of Corporate Pharmacy Management at Humana Inc, and also held the position of National Director of Pharmacy Networks. Earlier in his career, Renick was a Corporate Account Executive in the managed markets division of Merck & Co., Inc.
"We look forward to working with Dan to construct a leading and purpose-built pharmaceutical services commercialization company," said Micah Meisel, Partner and Head of Healthcare at Oak Hill Capital. "Dan's deep subject matter expertise and broad experience across multiple therapeutic areas and healthcare services make him an ideal partner as Oak Hill endeavors to assemble a platform in this attractive industry."
Brian Cherry, Managing Partner at Oak Hill Capital, added, "Our formation of Petauri Health with Dan is an excellent example of Oak Hill's theme-based and systematic approach to investing. Partnering with Dan to build Petauri fits perfectly with our long history of sponsoring and scaling companies in sectors where we have deep thematic conviction."
Petauri Health will work with pharmaceutical and life sciences clients to improve patient outcomes by establishing the scientific, economic, humanistic and societal value of medical advances. For more information, please visit www.petaurihealth.com.
About Oak Hill Capital
Oak Hill is a longstanding private equity firm focused on the North America middle-market. Oak Hill applies a specialized, theme-based approach to investing in the following dedicated industry sectors: Media & Communications, Industrials, Services, and Consumer. The Firm implements a highly systematic approach to theme development, proactive origination, and value creation in partnership with management to build franchises of lasting value. Over the past 35+ years, Oak Hill and its predecessors have raised approximately $20 billion of initial capital commitments and co-investments, invested in approximately 100 companies, and completed more than 300 add-on acquisitions representing an aggregate enterprise value at acquisition of over $60 billion. For more information, please visit www.oakhill.com.
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SOURCE Oak Hill Capital and Petauri Health
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