Levine Leichtman Capital Partners (“LLCP”), a Los Angeles-based private equity firm, announced today that it has partnered with the management team of Therapeutic Research Center (“TRC” or the “Company”) to acquire the Company from its current owner, Francisco Partners. TRC is a leading provider of medication advisory and learning solutions for pharmacists, pharmacy technicians, prescribers, nurses and other clinicians. TRC is an accredited provider of continuing education programs for medication learning, competency and compliance programs, and online training of pharmacy technicians. Nearly 500,000 healthcare professionals rely on TRC’s advisory and education content to access concise, unbiased and timely recommendations and clinical resources. TRC was founded in 1985 and is headquartered in Stockton, CA.
According to Lauren Leichtman, Co-Founder and CEO of LLCP, “We are excited to partner with Wes Crews and the rest of the management team who have positioned TRC as a market leader with very strong brand recognition among healthcare professionals. We look forward to supporting TRC management in its growth initiatives and efforts to empower healthcare professionals to reduce medication errors and improve patient care.”
Wes Crews, TRC’s Chief Executive Officer, as well as the existing management team will continue to lead TRC’s strategic direction and day-to-day operations. Regarding the transaction, Wes Crews said, “We are very excited about partnering with LLCP as our company seeks to strengthen its market position and execute new initiatives for medication advisory and education solutions in hospitals and physician group practices. LLCP has a long history of acting as a value-added partner to its portfolio companies; providing strategic, financial and merger and acquisition (M&A) expertise, and I expect our partnership to contribute meaningfully to the continued growth of the business.”
About Therapeutic Research Center (TRC)
TRC is the leading provider of digital medication learning that updates, informs, and educates healthcare providers across the continuum of care. In addition to its highly regarded Pharmacist’s Letter, Prescriber’s Letter, Pharmacy Technician’s Letter, Nurse’s Letter and Natural Medicines online resources, TRC provides additional online solutions for hospital and community clinicians that expand on its trusted recommendations, such as drug comparison charts, patient education handouts, FAQs, and tutorials in its web-based products. In addition, TRC provides online continuing education programs for medication learning, competency, and compliance programs, and keeps clinicians and administrators informed via its continuing education (CE) dashboard and CE & Training Organizer. TRC provides the largest catalog of education and advisory services in the industry for pharmacy, delivering nearly 500 course options to help technicians and clinicians. TRC leads the way in the training of new pharmacy technicians with Pharmacy Technicians University, the first online accredited, interactive training program of its kind. Nearly 500,000 healthcare professionals rely on TRC’s advisory and education service to access concise, unbiased, timely information to improve medication use, prevent medication errors, and improve overall patient care, quality and outcomes.