LAKE FOREST, Ill.—Actient Pharmaceuticals LLC, a specialtypharmaceutical company launched in March 2009, has acquired Timm MedicalTechnologies Inc., a company that specializes in products and services for thediagnosis and treatment of urological disorders, primarily in the area oferectile dysfunction. Financial terms of the acquisition were not announced.
Timm's principal product is its Osbon ErecAid, which is adrug-free, non-invasive vacuum therapy system that is said to be 90 percenteffective in cases where drugs such as Cialis and Viagra are ineffective orproduce unwanted side effects. Timm claims that more than 1 million couples areOsbon users. The company also markets Promescent, a topical treatment that isused to prolong the time to ejaculation.
"Timm Medical and the Osbon brand names are synonymous with outstanding qualityand service," says Ed Fiorentino, CEO of Actient. "We look forward to combiningthe companies and expanding our efforts in providing urology products andservices that improve patient outcomes."
The acquisition of Timm Medical is consistent with Actient's strategic focus inurology, Fiorentino notes. Actient is now able to offer pharmaceutical andmedical device and diagnostic solutions to the urology community, he adds.
"We are excited to join Actient," adds David Talen, president of Timm Medical."We believe that Actient will help enhance our position as a valued resourcefor urologists and patients."
Prior to joining Actient, Fiorentino was a corporate officer and 22-yearveteran of Abbott Laboratories, where his experience included a stint as corporatevice president of pharmaceutical commercial operations and responsibility forall U.S. sales, marketing and new product planning. He also served as presidentof Abbott Diabetes Care, leading Abbott's global device business in this area.Most recently, Fiorentino was executive vice president of TAP Pharmaceutical,an Abbott joint venture with Takeda Pharmaceutical, which has now beendissolved.
Actient was established in partnership with private equity firm GTCR, and TimmMedical is the company's second acquisition since its founding. In July 2010,Actient completed its first transaction to license and acquire sixpharmaceutical products from UCB Inc., an international biopharmaceutical companybased in Brussels, Belgium. Products in the transaction included: Edex(alprostadil for injection), Theo-24 (theophylline anhydrous), Semprex-DCapsules (acrivastine and pseudoephedrine hydrochloride), Levatol (penbutololsulfate), Robaxin (methocarbamol tablets, USP) and Dilatrate-SR (isosorbidedinitrate).
"Going forward, we will continue to seek additional opportunities in specialtyareas that allow us to extend our branded prescription product offering,"Fiorentino says.
Edex, a prostaglandin, is also used to treat erectile dysfunction as athird-line therapy. Currently, the Actient sales force calls only onurologists, with other products being sold by "non-personal means." In thefuture, Fiorentino expects the company to add more urology products to itsportfolio and expand into women's health.
Founded in 1980, Chicago-based GTCR focuses on investing in growth companies inthe financial services and technology, healthcare and information services andtechnology industries. The firm stresses what it calls the "LeadersStrategy"—finding and partnering with world-class leaders as the critical firststep in identifying, acquiring and building market-leading companies throughacquisitions and organic growth. Since its inception, GTCR has invested more than$8 billion in over 200 companies and has taken 38 public.
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