Gridiron Capital Partners with Health Monitor Network
Investment Underscores Strong Conviction in Business Services Within Outsourced Pharmaceutical Services Thematic Area of ExpertiseTM
NEW CANAAN, CT, October 31, 2024 – Gridiron Capital, LLC (“Gridiron Capital” or “Gridiron”), an investment firm focused on partnering with founders, entrepreneurs, and management teams, announces an investment in Health Monitor Network (“Health Monitor” or the “Company”). Health Monitor is a healthcare marketing platform that provides innovative, high-quality medical education to patients and healthcare professionals directly at the point-of-care and beyond.
The partnership with Health Monitor Network represents an investment within Gridiron’s outsourced pharmaceutical services Thematic Area of Expertise. Through its ideation process, Gridiron identified outsourced pharmaceutical services as a compelling thematic area, resulting from the firm’s conviction in the secular tailwinds driven by outsourced service providers’ ability to address the growing and complex needs of the broader pharmaceuticals industry. Health Monitor represents a growth-oriented company that delivers a differentiated value proposition to patients and healthcare professionals, as well as to pharmaceutical customers.
Health Monitor CEO David Paragamian and the entire management team will continue to lead Health Monitor in its next chapter of growth. Gridiron is investing alongside the management team, with substantial reinvestment from the current ownership group, including WestView Capital Partners. Gridiron will support the Health Monitor management team in accelerating and unlocking growth opportunities in both current and untapped channels across existing and new products.
David Paragamian has led the Company since December 2020, having previously served as president of Publicis Groupe’s leading healthcare agency, Razorfish Health, and Inizio’s leading medical communications agency, ApotheCom. Prior to that, he spent time working for Procter and Gamble, Johnson & Johnson, and Roche Pharmaceuticals.
Mr. Paragamian said, “For over 40 years, Health Monitor has produced award-winning educational content to bridge the information gap between the patient and physician at every point of care. We are thrilled for this next phase of transformation alongside Gridiron as we look for new and exciting ways to drive growth together.”
Scott Harrison, Senior Managing Director and Chief Operating Officer at Gridiron Capital, said, “We are incredibly excited to announce our partnership with Health Monitor Network, and proud of the Thematic sector ideation that ultimately led up to the investment. Health Monitor’s ability to foster a more engaged dialogue between patients and their healthcare professionals has encouraged better patient outcomes, which allows everyone to win together.”
Kevin Jackson, Managing Partner at Gridiron Capital, stated, “Dave and the Health Monitor team have a proven track record of performance, innovation, and fostering a winning culture. We are honored to partner with them, sharing a common vision to accelerate growth while continuing to deliver exceptional service to patients, healthcare professionals, and loyal customers.”
Cain Brothers, a division of KeyBanc Capital Markets, served as financial advisor to Health Monitor. Finn Dixon & Herling LLP served as legal counsel to Gridiron Capital.
Financial terms of the transactions were not disclosed.
About Gridiron Capital
Gridiron Capital is an investment firm focused on partnering with founders, entrepreneurs, and management teams and creating value by building middle-market companies into industry leaders in the consumer products & services, industrial growth, and business services segments in the United States and Canada. We help transform growing companies by winning together through hard work, partnerships grounded in shared values, and a unique culture that comes from hands-on experience building and running businesses. As a team led by former operators and entrepreneurs, we know what it takes to run successful businesses on a day-to-day basis. Additional information is available on the firm’s website: www.gridironcapital.com.
About Health Monitor Network
Health Monitor Network is one of the leading direct-to-patient (DTP) marketing companies in the United States. With the largest proprietary physician office network in the United States, Health Monitor provides high-quality patient education through digital, print, and mobile platforms to over tens of millions of condition sufferers through 200,000+ medical offices and more than 400,000 healthcare professionals over its 40-year history. Additional information is available on Health Monitor’s website: www.healthmonitornetwork.com.
Contacts
Gridiron Capital, LLC
Kevin Jackson
Managing Partner
KJackson@gridironcapital.com
Scott Harrison
Senior Managing Director, Chief Operating Officer
SHarrison@gridironcapital.com