SierraConstellation Partners (“SCP”), a national interim management and advisory firm, has been awarded top industry accolades for the firm’s work on the restructuring of Tricida, Inc. (“Tricida”), a clinical-stage pharmaceutical company focused on the development and commercialization of a drug for the treatment of chronic kidney disease.
SCP was awarded:
- The M&A Advisor Turnaround Award for Healthcare/Life Sciences Deal of the Year (Over $100MM)
- The M&A Advisor Awards Healthcare/Life Sciences Deal of the Year (between $100MM and $300MM)
- The M&A Atlas Awards Distressed M&A Deal of the Year
SCP was brought in to work as a financial advisor to Tricida in November 2022. In just four months, SCP guided the pharmaceutical company through a successful Section 363 sale of its intellectual property and related assets for a total aggregate consideration of more than $150 million. The SCP team on the deal included Founder and CEO Larry Perkins, Senior Director Roger Gorog, and Director Sean Corwen.
The advisory team to Tricida consisted of Sidley Austin LLP (lead counsel), Young Conaway Stargatt & Taylor, LLP (local counsel), Miller Buckfire & Co. (investment banker) and Kurtzman Carson Consultants LLC (claims agent) in addition to SCP as financial advisor.
“We are honored to be recognized by multiple prestigious organizations for our work with Tricida,” said Larry Perkins. “The pharmaceutical space faces unique challenges and complicated timelines, especially when it involves bringing a drug to market. We are proud of the result with the 363 sale and would not have been able to complete this successful restructuring without the help of our co-advisors. Congratulations to the entire team.”
Roger Gorog added, “We are proud of our effective and efficient work on this sale. This recognition not only reflects our commitment to excellence but also underscores the dedication and hard work of the entire team. We extend our gratitude to the industry and our peers for acknowledging our efforts.”
The completion of the restructuring of Tricida is another example of SCP’s growing work in the healthcare space. The healthcare industry evolves rapidly and must address evolving technological advancements, rising costs and demand, and industry consolidation. SCP assists healthcare companies in enhancing both financial and operational performance by providing hands-on performance improvement counsel based on decades of accumulated experience.
SCP accepted the awards at the 2023 Future of Dealmaking Summit in November and the Atlas Awards ceremony in January.
About SierraConstellation Partners LLC
SierraConstellation Partners LLC (SCP) is a national interim management and advisory firm headquartered in Los Angeles and has a presence in Boston, Chicago, Dallas, Florida, New York, and Seattle. SCP serves middle-market companies and their partners and investors navigating their way through difficult business challenges. Our team’s real-world experience, operational mindset, and hands-on approach enable us to deliver effective operational improvements and financial solutions to help companies restore value, regain creditor confidence, and capitalize on opportunities.
As former CEOs, COOs, CFOs, private equity investors, and investment bankers, our team of senior professionals has decades of experience operating and advising companies. For more information, please visit www.sierraconstellation.com.
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Contacts
Media:
SierraConstellation Partners
John Perilli / Tara Flanagan
Prosek Partners for SCP
(212) 279-3115
jperilli@prosek.com / tflanagan@prosek.com
