NEWS & EVENTS
Company News
Press Release
For Immediate Release
August 2, 2007
Contact: Gregg DiPietro
Leerink Swann
(617) 918-4601
Gregg.DiPietro@leerink.com
Contact: Jeffrey Lovell
Lovell Minnick Partners
(310) 414-6160
www.lovellminnick.com
Leerink Swann Closes $35 Million Equity Financing to Expand Business Platform
Boston, MA - September 11, 2007 - Leerink Swann announced today that it has closed its previously announced $35 million minority investment from Lovell Minnick Partners ("Lovell Minnick") and the March Group ("March"). With the closing of this transaction, Jeffrey Lovell and Spencer Hoffman from Lovell Minnick will join Leerink Swann's Board of Directors. Existing Board member Robert E. Cawthorn will represent the March Group on Leerink Swann's Board.
"We are delighted with the closing of this transaction and the additions of both Jeffrey Lovell and Spencer Hoffman to our Board," stated Jeffrey A. Leerink, Chairman and CEO of Leerink Swann. "The capital from this transaction will be used to fuel our aggressive growth plans in our investment banking and advisory businesses, to further advance our unique knowledge platform, and to expand our business presence into principal and asset management activities."
Jeffrey D. Lovell, Managing Director of Lovell Minnick Partners said, "We are excited to be a part of Leerink Swann as Board members and shareholders. Leerink Swann has built an industry leading platform for healthcare banking that has tremendous opportunity for significant growth. We look forward to supporting the Firm's business development and growth plans."
About Leerink Swann
Leerink Swann is a healthcare-focused investment banking firm that provides equity research, corporate finance, asset management, and strategic advisory services for institutional, life sciences, and high-net-worth clients. For the past six years, Institutional Investor has named Leerink Swann "Best of the Boutiques" in Biotechnology, Healthcare Technology & Distribution, Medical Supplies and Devices, Pharmaceuticals/Major, and Pharmaceuticals/Specialty. Through its MEDACorp division, Leerink Swann provides biomedical-consulting services to the institutional investment community. With an internal team of experts and a dedicated external network of academic and community healthcare professionals, MEDACorp assesses the viability of cutting-edge medical technologies, thus giving decision makers the information they need to perform. Leerink Swann is a member NASD/SIPC.
"Best of the Boutiques" - Institutional Investor. Seventh consecutive year!