Dohmen Company, a Milwaukee-based conglomerate of healthcare businesses, said earlier this week that it had sold its subsidiary Dohmen Life Sciences Services, or DLSS.
The buyers are New York-based private equity firm JLL Partners and Water Street Healthcare Partners, a Chicago-based healthcare investor.
Dohmen did not disclose specific financial terms in its announcement of the deal. The company said it expects the transaction to close by the end of March.
DLSS will now merge with Water Street Healthcare Partners’ commercialization services platform, though DLSS will keep its name and leadership team, Dohmen said.
Dohmen has been in business since 1858. According to the company’s website, it created the life sciences subsidiary in 2014 as a “business process outsourcer.” DLSS provides services to drug developers, medical device makers, and other healthcare clients in areas like compliance, technology, and supply chain management, Dohmen said.
“We built, launched and grew DLSS as a disruptive alternative to traditional models that aren’t well suited to serving companies with targeted therapies and smaller patient populations,” Cynthia LaConte, CEO of the Dohmen parent company, said in a prepared statement. “It was important for us to find partners that could not only scale the business but could add strategically important capabilities for our clients.”