The new company, headquartered in Deerfield, Illinois, will focus on acquiring and operating specialty pharmaceutical companies and products. Target opportunities include products which are already approved or currently marketed, as well as late-stage development drugs.
GTCR plans to invest up to $200 million of equity capital to support management’s strategy. Mr Fiorentino will serve as CEO of Actient. GTCR’s investment in Actient will be made from GTCR Fund IX LP, a private equity fund with $2.75 billion of committed capital.
Mr Fiorentino is a former corporate officer of Abbott Laboratories. Mr Fiorentino’s senior-level management experience at Abbott includes corporate vice president of pharmaceutical commercial operations where he was responsible for all US sales, marketing and new product planning.
Dean Mihas, principal of GTCR, said: “We are excited to partner with Ed to build an specialty pharmaceutical company focused on delivering clinically meaningful products to patients. We believe Ed’s combination of industry expertise and operational experience makes him an ideal partner as GTCR commits to another platform in the specialty pharmaceutical industry.”