Norwest Equity Partners Acquires Pentec Health - Frazier Healthcare

PRESS RELEASE
FOR IMMEDIATE RELEASE
JUNE 12, 2012
Norwest Equity Partners Acquires Pentec Health
Leading Specialty Infusion Services Company Poised for Continued Growth Within Healthcare Market
Minneapolis, Minnesota – Norwest Equity Partners (“NEP”), a leading middle market investment firm,
announced today that it has acquired Pentech Holdings, Inc. (“Pentec” or the “Company”) from DW
Healthcare Partners, Frazier Healthcare and Pentec management. Pentec is a leading national provider
of specialty infusion services to patients who require access to complex pharmaceutical products and
services outside of the hospital setting.
Pentec Chairman and CEO, Joe Cosgrove, commented, “I am extraordinarily pleased to embark on a
new phase of Pentec’s growth strategy with such an outstanding partner as NEP. We are fortunate to
have forged a relationship with an organization that shares our commitment to patient-centric
healthcare as well as our vision for continued pursuit of excellence and market leadership. NEP’s 50-
year history and experience in the healthcare sector, coupled with continued investment participation
and support from DW and Frazier bodes well for ushering in an exciting time for our company. I am
also encouraged by the continued personal and financial investment and dedication exhibited by
Pentec’s senior management team. As a result of our collaboration with NEP, we anticipate a most
promising and productive future.”
MEDIA CONTACTS:
For Norwest Equity Partners:
Heather Goodwin
Director of Marketing
Norwest Equity Partners
612.215.1676
hgoodwin@nep.com
For Pentec Health:
Yvonne Wright
Markitects, Inc.
484.354.2239
ywright@markitects.com
For nearly 30 years, Pentec has been a leading specialty infusion pharmacy focused on providing
innovative and proprietary nutritional therapies for patients suffering from chronic renal failure and
highly complex therapies for patients with intrathecal pumps. The Company operates two primary
divisions, Renal and Specialty Infusion (“SI”).
The Renal division delivers proprietary and patent-pending therapies, including PROPLETE, which are
designed to address issues of protein malnutrition in patients suffering from End Stage Renal Disease.
With the introduction of PROPLETE in 2008, Pentec has become the innovation leader in the renal
nutrition therapy market, offering a product which delivers superior clinical outcomes compared to
those achieved by traditional therapies, which have remained virtually unchanged through the years.
Pentec’s Joint-Commissioned-accredited SI division is the largest and most sophisticated provider of
pain and spasticity management home infusion therapy. Employing a highly differentiated nursing
model and 24-hour support services 365-days a year, the SI division positions Pentec as the only
provider in the U.S. to offer this level of patient care and physical support for patients with intrathecal
pumps. In addition to patient-direct support, the SI division also partners with physicians to help them
better care for their patients, offering real-time patient interaction and feedback via robust technology
systems.
Tim Kuehl, a Partner at NEP and Pentec board member, stated, “On behalf of the NEP partnership, we
are excited to partner with Joe and his management team on this investment. As the largest provider
of these specialized products and services in its market, Pentec has earned and built a tremendous
reputation among its customers and referring physicians and clinicians. Joe is a terrific leader who has
been able to capitalize on aggressive growth opportunities, and we are confident that there is a lot
more of that to come in the future.”
Pentec’s track record of financial performance and growth across both of its divisions has been
consistent and strong for several years. Inc. magazine recognized Pentec as one of the 5,000 fastestgrowing
private companies in America in both 2010 and 2011.

Jason Sondell, a Director at NEP and Pentec board member, stated, “This investment is a testament to
NEP’s healthcare investment strategy of partnering with profitable and growing companies with strong
business models and management teams. Pentec is a world-class operation run by a best-in-class
management team that has broad and deep experience leading pharmaceutical and healthcare
businesses. With its unmatched capabilities, therapies, and services, Pentec is poised to continue to
grow both organically through increased penetration within its growing markets, and through
acquisitions of companies in both existing and adjacent markets.”
Additional financing for this transaction was provided by Norwest Mezzanine Partners, Madison Capital
Funding, Golub Capital, Zions Bank, and CIT Group.
Simultaneous to the close of the transaction, Cosgrove assumed the role of Chairman of the Board of
Directors in addition to his CEO role. Pentec employs nearly 300 people and is headquartered in
Boothwyn, Pennsylvania. More information can be found on www.pentechealth.com.
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Partnering with business owners since 1961, Norwest Equity Partners (NEP) is a leading investment firm focused on
building companies into industry leaders. With a reputation for quality investments and exceptional financial
returns, NEP manages $5 billion of capital through a series of equity and mezzanine funds. The firm is currently
investing NEP IX, with $1.2 billion in capital.