November 15, 2024 —Neovance, formerly known as Fortrea Patient Access, is excited to announce its new name as well as its new patient support capabilities. Neovance leverages over 35 years of expertise and its Covance legacy to offer innovative patient support solutions with proprietary and AI-enabled technologies.
Neovance’s recent divestiture from Fortrea brings it into the Arsenal Capital Partners (“Arsenal”) portfolio, joining a private equity firm specializing in building market-leading, technology-rich, durable companies that make a positive impact on patients’ lives and the functioning of the healthcare system. Neovance will continue to tailor its comprehensive services—including hub, specialty pharmacy, field reimbursement, and nursing services—to seamlessly connect patients with transformative therapies. Its scalable yet tailored solutions help HCPs ensure that the therapies they prescribe reach their patients.
Neovance has assembled a team of industry veterans to lead the company’s ambitious growth agenda. Raymond (“Ray”) H. Hill, an operating partner within Arsenal’s healthcare team, and most recently the CEO of CorEvitas, will serve as chairman of the board. “We are transforming our approach to patient support services, building on 35+ years of industry leadership,” said Sam Osman, Chief Executive Officer of Neovance. “Now as Neovance, our deeply experienced team offers a new model of partnership - based on unparalleled insights and innovative technologies - to deliver the result patients care about: getting the therapies they need, when they need it.”
“Arsenal is incredibly excited to support an ambitious long-term growth and transformation agenda for Neovance,” said Hill. “We are working with the management team to make significant investments to build a transformative, technology- and expert-driven industry-leading company. I am confident that Neovance will realize our joint vision of enabling the biopharmaceutical industry to address significant gaps in access to novel therapeutics, thereby ensuring better patient outcomes and experiences.”
About Neovance
Neovance is building the future of patient support services, through experts, data, technology, and insights. As the industry-leading provider of patient support solutions, the company leverages more than 35 years of expertise and proprietary, AI-enabled technologies to help patients navigate an increasingly complex healthcare system. Neovance’s tech-enabled insights have shaped over 1,000 brands across 25+ disease indications, reaching over 3 million patient and physician interactions annually. It designs programs for its comprehensive services—from integrated care to field reimbursement to nursing—to support the unique needs of therapies and ensure patients access the care they need, when they need it.
About Arsenal Capital Partners
Arsenal Capital Partners is a leading private equity investment firm that specializes in building market-leading industrial growth and healthcare companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds totaling over $10 billion, completed more than 300 platform and add-on acquisitions, and achieved more than 35 realizations. The firm works with management teams to build strategically important companies with leading market positions, high growth and high value-add. For more information, visit www.arsenalcapital.com.
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