Precision Medicine Group gains $250M investment

Precision Medicine Group, a specialized services company supporting precision drug development and commercialization, reached an agreement for a $275 million investment.

The investors include Berkshire Partners, TPG Growth, Oak Investment Partners and J.H. Whitney as well as Precision Medicine Group's co-founders and management team.

Precision Medicine Group was established in 2012, and today includes 1,000-plus employees and 22 locations in the U.S., Canada and Europe. The new investment will be used to expand the company's global footprint and accelerate the development, approval and commercial success of its treatments.

"Precision has built a unique and compelling set of services that address the most important challenges facing biopharmaceutical and diagnostic companies," said Chris Hadley, a managing director at Berkshire Partners.

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