SANTA MONICA, CA – January 11, 2012 – Clearlake Capital Group, L.P. (“Clearlake”) today announced that it has sponsored the recapitalization of Entelos Holding Corporation (“Entelos” or the “Company”), provided a significant capital infusion and has taken a majority stake in the Company. Additional terms were not disclosed.
For over 15 years, Entelos has been a premier provider in the field of in silico modeling and simulation products and services that support pharmaceutical companies in achieving greater efficiency while they navigate the complex labyrinth of drug development. During the past six months, the Company undertook a number of steps to position itself for future growth, which included a transition of its Board of Directors and senior management team by adding experienced proven industry leadership, and entering into and successfully exiting from Chapter 11 bankruptcy. Today’s new financing provides the Company with additional capital necessary to strengthen its balance sheet and execute its business strategy.
Steve Chang, Clearlake Founding Partner, said, “We are excited about our new partnership with Entelos, which offers the best-in-class technology and scientific talent. With a strong management team, a clear market vision in a new healthcare environment and improved financial resources, we believe the Company is poised to take advantage of growth opportunities as pharmaceutical and consumer product companies look to improve their product development capabilities.”
“This completes a transformation undertaken over the past six months to restructure Entelos and position the Company for future growth,” said Shawn O’Connor, CEO of Entelos. “This funding provides the Company with a strong financial foundation to support the continued delivery of our unique in silico modeling and simulation products and consulting services, invest in and continue developing our products and services, and extend the reach of our sales and marketing. Importantly, it brings to Entelos a strong and experienced investment partner to support our future success. I am very pleased with our progress and look forward to many years of continued success.”
Mr. Chang and Prashant Mehrotra, a Vice President at Clearlake, have joined the Company’s Board of Directors.
Clearlake is a private investment firm focused on special situations private equity such as corporate divestitures, recapitalizations, buyouts, restructurings, turnarounds and other equity investments. Clearlake seeks to partner with world-class management teams by providing patient, long-term capital and operational expertise to invest in businesses going through change. Clearlake’s founding principals have led over 50 investments totaling more than $2.7 billion of capital in sectors including business services, communications and media, energy and power, healthcare, manufacturing, retail/consumer, and technology. For more information, please visit www.clearlakecapital.com.
Entelos is an in silico modeling and simulation software and services company delivering advanced predictive technologies that dramatically lower the risk, time, and cost of product development in the pharmaceutical, healthcare, nutrition and consumer markets. The Company’s PhysioLab® platforms, in depth systems biology data and models, and virtual individual patient and population human technology provide highly predictive analyses to assist our customers develop safer and more effective drugs, foods and consumer products. Entelos’ understanding of the drivers of patient variability has significant application to the emerging field of personalized medicine. The Company is headquartered in San Mateo, California. For more information, please visit www.entelos.com.
OWEN BLICKSILVER PUBLIC RELATIONS, INC.
Kristin Celauro, [email protected], (732) 433-5200
Jennifer Hurson, [email protected], (845) 507-0571