“Deerfield is proud to play a leading role in advancing innovation in the development and delivery of healthcare products and services through investment, information and philanthropy,” James Flynn, managing partner at Deerfield, said in a news release. “Few other industries can have such a profound impact on the quality and length of life.”
Deerfield previously launched two healthcare investment funds, Deerfield Private Design Fund I and Deerfield Private Design Fund II. The investment period for the first fund is now over and the $500 million fund is expected to close in July 2015. The second fund is in the final stages of committing its approximately $1 billion in investments.
Since the firm launched in 1994 with $17 million in equity, it has invested in companies to fund research and development, acquisitions, growth, and balance-sheet restructuring. Yesterday, Deerfield announced that it has entered into a $27.5 million debt financing agreement with orthopedic-device company OMNIlife science to help strengthen its balance sheet, finance the expansion of its product line, and advance the commercialization of its computer navigation and robotic platform for joint-replacement procedures. The financing will come from Deerfield Private Design Fund II, not the most recently-launched fund, said Karen Heidelberger, a partner at Deerfield Management.
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