NewSpring Healthcare Adds Pharma Services Veteran to Advisory Board
June 20, 2023
Pete Buzy will focus on identifying innovative leaders at growing middle-market pharmaceutical services businesses for investment
NewSpring ("the Firm"), a family of private equity strategies, announced today that NewSpring Healthcare, the Firm's strategy dedicated to investing in innovative companies in the lower-middle market that improve the delivery of healthcare or bend the cost curve through technology and human capital efficiencies, has added Pete Buzy as an Advisory Partner. Buzy will leverage his decades of pharmaceutical industry experience to help the Firm identify new innovative pharmaceutical services businesses for investment and grow existing portfolio companies.
Buzy has a deep relationship with NewSpring Healthcare, having served as CEO of former NewSpring portfolio company Paragon Bioservices before it was sold to Catalent for $1.2 billion. He was instrumental in growing Paragon from a small specialty biotechnology manufacturing business into a billion-dollar enterprise in less than five years. Buzy also currently serves as a Board member at LumaCyte and Deka Biosciences.
“The pharmaceutical and biotechnology industries are complex, inefficient, and ripe for disruption. This backdrop has opened the door for innovative new service providers to gain traction bringing cost efficiencies to the market,” said Dr. Kapila Ratnam, NewSpring General Partner. “At NewSpring Healthcare, we’re thesis driven investors and one of our focus areas is in outsourced pharma services, where there is massive market opportunity driven by rising complexities, costs, and compliance hurdles. As a former CEO of one of these disruptive outsourced pharma manufacturing companies, Pete fully understands what it takes to navigate this environment and grow a successful business. He represents the perfect fit for our Advisory Board as we seek to continue our long track record of investing in innovative, successful lower-middle market businesses.”
“The pharmaceutical industry represents one of the most exciting and rapidly evolving industries in the world. Over the course of my career, I’ve developed a true passion for growing pharmaceutical services businesses and am eager to lend my expertise in identifying companies with long pathways for sustainable, scalable growth. NewSpring’s guidance and expertise was instrumental in our ability to grow at Paragon, and I’m thrilled to have the opportunity to help more innovative companies achieve similar levels of success in this new role.”
Led by Brian Murphy, Kapila Ratnam, PhD., and Michael Kaplan, the NewSpring Healthcare team possesses deep domain experience and a passion for the sector that uniquely positions them to execute on strategic opportunities and help management teams grow their companies. Buzy joins a deep team of advisory partners to round out the strategy’s expertise, including Chris Bodine, former President of CVS Caremark, Bruce Downey, former Chairman and CEO of Barr Pharmaceuticals, Inc., and Mark Pacala, a 30-year healthcare industry veteran.