SOURCE: Leerink Swann & Company

September 11, 2007 09:00 ET

Leerink Swann Closes $35 Million Equity Financing to Expand Business Platform

BOSTON, MA--(Marketwire - September 11, 2007) - Leerink Swann announced today that it has closed its previously announced $35 million minority investment from Lovell Minnick Partners ("Lovell Minnick") and the March Group ("March"). With the closing of this transaction, Jeffrey Lovell and Spencer Hoffman from Lovell Minnick will join Leerink Swann's Board of Directors. Existing Board member Robert E. Cawthorn will represent the March Group on Leerink Swann's Board.

"We are delighted with the closing of this transaction and the additions of both Jeffrey Lovell and Spencer Hoffman to our Board," stated Jeffrey A. Leerink, Chairman and CEO of Leerink Swann. "The capital from this transaction will be used to fuel our aggressive growth plans in our investment banking and advisory businesses, to further advance our unique knowledge platform and to expand our business presence into principal and asset management activities."

Jeffrey D. Lovell, Managing Director of Lovell Minnick Partners, said, "We are excited to be a part of Leerink Swann as Board members and shareholders. Leerink Swann has built an industry leading platform for healthcare banking that has tremendous opportunity for significant growth. We look forward to supporting the Firm's business development and growth plans."

About Leerink Swann & Company

Leerink Swann is a healthcare-focused investment banking firm that provides equity research, corporate finance, asset management, and strategic advisory services for institutional, life sciences, and high net worth clients. For the past six years, Institutional Investor has named Leerink Swann "Best of the Boutiques" in Healthcare. Through its MEDACorp division, Leerink Swann provides biomedical-consulting services to the institutional investment community. With an internal team of experts and a dedicated external network of academic and community-based healthcare professionals, MEDACorp assesses the viability of cutting-edge medical technologies, thus giving decision makers the information they need to perform. Leerink Swann is a member NASD/SIPC. For more information, visit www.leerink.com.

About Lovell Minnick Partners

Lovell Minnick Partners LLC is an independent private equity firm providing buyout and growth capital to companies in the financial services industry. From offices in the Los Angeles and Philadelphia areas, Lovell Minnick manages private equity partnerships totaling over $350 million on behalf of qualified private and institutional investors. Portfolio companies of Lovell Minnick operate in various areas of the global financial services industry, including asset management, financial product distribution, outsourced administration services, securities brokerage, and financial consulting. For more information regarding Lovell Minnick Partners, visit www.LovellMinnick.com.

About the March Group

The March Group is a privately owned investment group headquartered in Hamilton, Bermuda. March's core business is the management of proprietary investments. The predominant part of March's business portfolio consists of strategic, long-term equity participations in companies operating in March's preferred industry sectors, pharmaceuticals and finance. March's portfolio of industry participations is complemented by an endowment-like investment portfolio. For more information regarding March visit www.march-group.com.

Contact Information