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RALEIGH – With the global pandemic driving 7% annual growth in life science service companies, Raleigh-based NovaQuest Private Equity is getting in on the action. And it had help from Goldman Sachs in making a new deal.
Goldman Sachs Specialty Lending Group provided the debt financing NovaQuest needed to make the deal in which CoreRX becomes part of the NovaQuest portfolio. The deal was announced early Tuesday.
However, financial terms were not disclosed.
CoreX is a global contract development and manufacturing organization in Clearwater, Fla. It offers preformulation, formulation, analytical and stability, clinical manufacturing, commercial manufacturing, and packaging services.
NovaQuest
The deal comes as the market for life science firms such as several based in the Triangle is forecast to grow to more than $57 billion by 2025, according to a recent report. And that estimate was made before the full scale of the COVID-19 pandemic struck in 2019.