Danbury, CT and Boston, MA – Framework Solutions (“Frameworks” or the “Company”), a professional services company serving the life sciences and pharmaceutical industries, announced today that it received a growth recapitalization investment from WestView Capital Partners (“WestView”), a Boston-based private equity firm focused on middle market growth companies.
Headquartered in Danbury, CT, Frameworks offers outsourced business and consulting services focusing on supporting clients’ operational and strategic needs within their medical, legal, regulatory and/or promotional review committee (“MLR/PRC”) processes. Frameworks’ Process Management division provides outsourced coordinator, editor, and librarian services to fill critical MLR/PRC roles within life sciences and pharmaceutical companies. Frameworks’ Professional Services division assists clients with establishing and developing internal MLR/PRC review processes, including business processes, technology implementation, and benchmarking and analytics.
“At Frameworks, we offer a variety of solutions that add significant efficiency and organization to our clients as they navigate the ever-changing compliance needs of the life sciences and pharmaceutical industries,” said Joe Walsh, CEO of Frameworks. “We are excited about the acceleration of our growth trajectory and the additional opportunities the partnership with WestView will provide us and our clients.”
“Partnering with WestView allows us to pursue even more strategic opportunities, increasing our overall capabilities, resources, and bandwidth to support our clients, from smaller start-ups to Big Pharma,” said Joanna Bova, Executive Director of Process Management. Rebecca Burnett, Executive Director of Professional Services, added “As we enter this next phase of growth, we are excited to leverage WestView’s deep experience as investors in both pharma and people-based companies.”
“We are thrilled to be investing in Frameworks and partnering with such a passionate management team,” said Greg Thomas, General Partner at WestView, who will join Frameworks’ Board of Directors. “Joe and his entire team have built the Company into a market leader in outsourced MLR/PRC services, and we believe Frameworks’ extensive industry knowledge positions the Company for sustained success,” noted Greg Thomas. “We’ve been very impressed with Frameworks’ expertise and growth and look forward to further scaling the business together with management,” added Thomas Vo, Vice President at WestView who will also join the Company’s Board. WestView has invested in multiple companies providing outsourced services to life science and pharmaceutical companies.
WestView was represented by Latham & Watkins LLP with debt financing provided by The Provident Bank. Frameworks was represented by Huron Transaction Advisory and Foley & Lardner LLP.
About Framework Solutions:
Framework Solutions was founded in 2003 and is headquartered in Danbury, CT. Frameworks partners with life sciences and pharmaceutical companies of all sizes, providing outsourced professional and consulting services. Frameworks leverages its expertise in the MLR/PRC space to help clients drive quality, efficiency, and compliance. For more information, please visit www.framesol.com.
About WestView Capital Partners:
WestView Capital Partners, a Boston-based private equity firm focused exclusively on middle market growth companies, manages approximately $1.7 billion in capital across four funds. WestView partners with existing management teams to sponsor minority and majority recapitalizations, growth, and consolidation transactions in industries such as healthcare technology and outsourcing, business services, software and IT services, consumer, and growth industrial. WestView invests in companies with operating profits between $3 million and $20 million with investment sizes ranging from $10 million to $60 million. For more information, please visit www.wvcapital.com.