CHARLOTTE, N.C., Aug. 19,
2024 /PRNewswire/ -- Falfurrias
Management Partners (Falfurrias), a
Charlotte-based private equity
firm focused on growth-oriented, middle-market businesses, today
announced its investment in Jumo Health, an innovative
and award-winning clinical trial solutions company driving better
outcomes for clinical trials globally. Jumo Health develops
creative, patient-centric educational solutions that improve health
literacy to accelerate clinical trial enrollment and increase
participant retention.
While clinical trials suffer from low enrollment, high dropout
rates, and a startling lack of diverse representation, Jumo
Health's solutions aim to remedy these critical industry problems.
Jumo Health's curriculum-based educational solutions ensure
prospective clinical trial participants have information relevant
to their age, gender, race, language, and socioeconomic status at
every stage of their journey, from pre-consent trial awareness to
ongoing trial engagement. The result is faster recruitment, longer
retention, increased patient compliance, and greater overall trial
success for sponsors.
The Falfurrias investment will bring new resources and expertise
to the Jumo Health team, aimed at expanding the organization's core
capabilities, enabling data-driven solutions, and widening patient
engagement. Specifically, Falfurrias is energized by Jumo Health's
commitment to improving access to clinical trials among
traditionally underrepresented communities, many of whom have a
deep-seated mistrust of the healthcare system due to historical
inequities. Jumo Health has taken tangible steps to rebuild this
trust by creating culturally sensitive materials and establishing a
robust network of patient advocacy groups and more than 2,000
religious, social, government, and community-based
organizations.
Adam Cossman, an executive
advisor on the Falfurrias team with 25 years of pharmaceutical
commercialization experience, will join Jumo's board of directors
as Chairman. Alexander Jutkowitz, an
executive in residence at Falfurrias and global content marketing
and communications expert, and Jackie
Kent, a pharmaceutical executive with nearly 30 years of
clinical trial innovation experience, will also join the board of
directors.
"Treatment advancements for increasingly targeted patient
populations depend on more diverse and innovative clinical trial
solutions," said Adam Cossman. "As
treatments become more personalized and trial complexity increases,
the need for effective patient communications is more critical than
ever. Jumo Health's patient-centric approach gets to the heart of
these issues, and we look forward to helping them work towards
their mission."
"Since its inception, Jumo Health has differentiated itself by
embracing storytelling as a means to increase health literacy
across disparate groups, ensuring patients can understand their
journey thanks to those that came before them," said Kevin Aniskovich, President and CEO of Jumo
Health. "This investment will provide the requisite industry
expertise to speed product development, expand key customer
relationships, and usher in a new way of thinking about access and
ongoing patient participation in clinical research."
"The Falfurrias team sees great potential in the clinical trial
space," said Geordie Pierson, Partner at Falfurrias. "It's an area
in need of tremendous attention. There's a real opportunity to
leverage Jumo Health's foundational core in health literacy and
expand its capabilities to form a broader, content-driven clinical
trial offering that better serves patients, doctors, and
researchers alike."
Equity for this investment comes from Falfurrias Capital
Partners V, an operationally focused lower middle market buyout
fund, and builds on the firm's experience in marketing and
communications.
Houlihan Lokey represented
Falfurrias in this transaction, and Holland & Knight served as legal advisors.
Jumo Health was represented by Canaccord Genuity LLC throughout
this process.
About Falfurrias
Falfurrias Capital Partners is an operationally focused
middle-market private equity fund focused on investing in
high-growth companies in the food manufacturing, industrial
technology, and business services sectors. The team is comprised of
investors and proven operators, as well as in-house resources
across strategy & market insights, finance & integration,
human capital, and technology. The fund is managed by Falfurrias
Management Partners, a Charlotte-based private equity firm founded in
2006 by Hugh McColl Jr., former
chairman and CEO of Bank of America; Marc
Oken, former CFO of Bank of America; and Managing Partner Ed
McMahan. The firm has raised $2.2
billion across six funds and invests in growing,
middle-market businesses in sectors where the firm's operational
resources, relationships, and sector expertise can be employed to
complement portfolio company executive teams in support of growth
objectives. For more information, visit www.falfurrias.com.
About Jumo Health
Jumo Health develops age-appropriate, culturally relevant, and
relatable educational resources for patients and caregivers. We
have experience serving diverse populations, covering more than 160
health topics across 80+ countries in 120+ languages. Our various
digital, video, and print offerings use highly visual elements and
research-backed health literacy strategies to ensure that everyone
can understand and act upon complex medical information. We do this
through familiar mediums – from comic books and animation, to
virtual reality experiences and authentic documentary-style patient
stories – all customized based on audience. Jumo Health
collaborates globally with more than 180 advocacy groups and
community organizations to promote access and to ensure unique
patient experiences are accurately represented.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/falfurrias-management-partners-announces-investment-in-jumo-health-an-innovative-clinical-trial-solutions-platform-driving-better-health-outcomes-302225284.html
SOURCE Falfurrias Management Partners