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QHP Capital-Backed Pro-ficiency Acquired by Simulations Plus

Business Wire
·3-min read

RALEIGH, N.C., June 12, 2024--(BUSINESS WIRE)--QHP Capital, L.P. ("QHP"), an investor in technology and services companies in the life sciences and healthcare sectors, today announced its sale of Pro-ficiency, LLC ("Pro-ficiency" or the "Company"), a leader in providing tech-enabled training and compliance solutions for clinical trial investigators and site staff, to Simulations Plus, Inc. (Nasdaq: SLP) ("Simulations Plus"), a leading provider of modeling and simulation software and services for pharmaceutical safety and efficacy.

Michael Raymer, Chief Executive Officer of Pro-ficiency, said, "We are excited to join the Simulations Plus team, which has a well-established and recognized leadership position in modeling and simulations within the pharmaceutical and biotech community. Both teams approached this transaction with a growth mentality. We look forward to leveraging Simulations Plus’ specialized offerings and business development infrastructure to expand our combined market reach. Finally, our operations are complementary, our cultures are aligned, and together we believe we can elevate the performance of our mutual clients as well as attract new ones with our end-to-end solutions."

QHP Capital made its original investment in Pro-ficiency in 2021. The Company then completed several additional acquisitions in the investment period with Fugitive Labs, LLC in 2022 and Compass Group Partners in 2023.

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"We are very pleased with the growth and innovation we have seen these past few years at Pro-ficiency. We are excited to see them continue to improve clinical development as part of the SLP offering," said Michael Sorensen, Partner at QHP Capital.

About Pro-ficiency:

Pro-ficiency is a leading provider of tech-enabled training and compliance solutions for clinical trials. The Company provides a comprehensive suite of services, including a turn-key offering of customized, virtual training simulations, training and compliance monitoring tools, and real-time data & predictive analytics. For more information, please visit www.pro-ficiency.com.

About Simulations Plus, Inc:

Serving clients worldwide for more than 25 years, Simulations Plus is a leading provider in the biosimulation market providing software and consulting services supporting drug discovery, development, research, and regulatory submissions. We offer solutions that bridge machine learning, physiologically based pharmacokinetics, quantitative systems pharmacology/toxicology, and population PK/PD modeling approaches. For more information, please visit www.simulations-plus.com.

About QHP Capital:

QHP Capital is an investor in technology and services companies in the life sciences and healthcare sectors. QHP Capital spun out of NovaQuest Capital Management, which was formed in 2000 with the vision of building an investment platform to provide strategic capital and industry expertise in partnership with strong management teams. The investment team consists of seasoned investment and operational professionals with significant investment experience and deep life science and healthcare expertise. QHP benefits from an extensive network of industry experts and relationships that assist in identifying, analyzing, and growing QHP’s portfolio companies. QHP continues as the investment manager for NovaQuest Private Equity funds. For more information, please visit www.qhpcapital.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240611617725/en/

Contacts

For further information about Pro-ficiency, please contact:
Investor Relations Contact:
Renee Bouche
(661) 723-7723
renee.bouche@simulations-plus.com

For QHP inquiries, please contact:
Silvia Cruz
(919) 261-5266
silvia.cruz@qhpcapital.com

For media inquiries, please contact:
Jeremy Milner
BackBay Communications
(401) 862-9422
jeremy.milner@backbaycommunications.com