LONDON and BOSTON, April 29 /PRNewswire/ -- Abingworth, the international life sciences investment group, today announced the appointment of David Mayer as Partner. He will be based at the Company's offices in Waltham, MA, USA and his prime responsibility will be to support Abingworth's efforts in growth equity, which will include expansion and acquisition financings, small buyouts and build-ups in healthcare and life science companies. Abingworth plans to invest from 10 million pounds Sterling ($20 million) to up to 40 million pounds ($80 million) in each of its growth equity investments.
Mr. Mayer adds significant depth and expertise to Abingworth with more than 12 years experience in growth equity/buyouts, of which 8 years have been spent focused on the healthcare sector. Mr. Mayer was most recently a Managing Partner at Thoma Cressey Equity Partners (TCEP). He was one of five Managing Partners at TCEP, which managed more than $1.75 billion in capital, and he opened their Boston office in 2004. He was also responsible for expanding the areas within healthcare in which the firm now invests to include pharmaceuticals and medical products, in addition to healthcare services. Notable investments made during his time at TCEP include: ESP Pharma, Inc., Jazz Pharmaceuticals, Inc., Critical Care Systems, Inc., Essent Healthcare, Inc. and Continuing Care RX, Inc.
"We are delighted to welcome Dave to our investment team," said Stephen Bunting, Managing Partner of Abingworth. "He has a proven track record in growth equity and has served on the boards of several healthcare and life science companies. His broad network of contacts and extensive experience will provide valuable strategic support to our investment process and to our portfolio companies. We believe he is an excellent fit with our organization."
David Mayer said, "I am very pleased to be joining Abingworth, one of the pioneering investment firms in the life sciences area, and I look forward to being able to contribute my experience to help identify and develop growth equity opportunities for the firm."
Abingworth is an international life sciences investment group active on both sides of the Atlantic with offices in London, Menlo Park (California) and Boston. Founded in 1973, the Company invests across all stages of development, including early-stage, growth equity and quoted companies in the healthcare and life sciences sectors. Abingworth has funds under management of over $1.25 billion.