-- Founder Charles Tate to serve as Chairman Emeritus --
Boulder, Colo. – April 18th, 2018 – CRG, a leading healthcare investment firm, today announced the completion of the transfer of control of the firm to Nathan Hukill, President and Chairman, effective March 31, 2018. In connection with the transfer, Charles Tate will retire from day-to-day operations of CRG and will serve as Chairman Emeritus of the company.
“This leadership transition ensures the long-term success of CRG and enables the current management team to continue executing its differentiated strategy of providing growth capital to commercial-stage healthcare companies and targeting compelling risk-adjusted returns for our limited partners,” commented Nathan Hukill. “On behalf of my partners and colleagues, I would like to thank Charles for his immense contributions to CRG and entrusting me with the opportunity to lead the firm forward.”
Under the plan, which was finalized in December 2015, a partnership was established as a mechanism to share firm ownership, ensure strong governance of CRG and align interests between senior management and the firm’s business partners. The firm’s partners include Charles Tate, Nathan Hukill, Luke Düster, Michael Weinmann, Andrei Dorenbaum, and David Carter.
Tate added, “Nate and I first engaged in discussions about a succession plan in 2013 that would provide continued incentives for the next generation without the introduction of outside ownership. Nate is uniquely qualified to assume control of CRG and is committed to the firm’s future success. Since 2009, Nate has overseen significant growth, including investing in 47 commercial-stage healthcare companies across 21 therapeutic areas and raising nearly $3 billion in debt and equity capital from institutional investors.”
CRG is a premier healthcare investment firm that has committed more than $3 billion of assets across three funds to date. The firm seeks to invest between $20 to $300 million in companies across the healthcare spectrum, including: medical devices, biopharmaceuticals, tools & diagnostics, services and information technology. CRG provides growth capital in the form of long-term debt and equity to support innovative, commercial-stage healthcare companies that address large, unmet medical needs. The firm partners with public and private companies to provide flexible financing solutions and world-class support to achieve exceptional growth objectives with minimal dilution. CRG maintains offices in Boulder, New York and Houston. For more information, please visit www.crglp.com.
This release does not constitute an offer to sell or buy any securities and may not be used or relied upon in connection with any offer or sale of securities. It does not constitute a solicitation of clients and may not be used or relied upon in connection with any solicitation of clients. This release is qualified in its entirety by reference to the offering materials of a specific investment opportunity. Neither the Fund nor CRG makes any representation or warranty, either express or implied, as to the accuracy, completeness or reliability of the information contained in this release. Statements in this release are made as of the date hereof unless stated otherwise herein, and the delivery of this release at any time shall not under any circumstances create an implication that the information contained herein is correct as of any time subsequent to such date. Neither the Fund nor CRG has any obligation to update the information contained in this release, including in the event that any such information becomes inaccurate. No person has been authorized to give any information or to make any representation concerning the matters in this release other than the information explicitly contained in this release, and, if given or made, such information or representation must not be relied upon as having been authorized. CRG and its affiliates reserve the right to modify any of the terms of any offering.
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