About NewSpring Health Capital
NewSpring Health Capital is the dedicated healthcare fund of NewSpring Capital, a private equity firm based in Radnor, PA. NewSpring Health Capital partners with management teams to accelerate the success of differentiated healthcare companies, delivering capital for growth, recapitalizations, and mergers & acquisitions within the segments of technology-enabled services, niche clinical providers and specialty pharmaceuticals. Kapila Ratnam, PhD, a partner at NewSpring Capital, has served on the Board of Directors at Paragon Bioservices since 2014 following NewSpring Health Capital’s investment.
Forward-Looking Statements
This press release contains both historical and forward-looking statements. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally can be identified by the use of statements that include phrases such as “believe,” “expect,” “anticipate”, “intend”, “estimate”, “plan”, “project”, “foresee”, “likely”, “may”, “will”, “would” or other words or phrases with similar meanings, and include the statements regarding Paragon’s 2019 revenues and its future growth rate, as well as the impact of the transaction on our Adjusted Net Income. Similarly, statements that describe our objectives, plans or goals, including our plans to close our agreement to acquire Paragon, to close on the related financing transactions, and to subsequently deleverage our balance sheet, are, or may be, forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or unknown risks or uncertainties materialize, actual results could vary materially from our expectations and projections. Some of the factors that could cause actual results to differ include, but are not limited to, the following: any delay or failure to conclude the acquisition of Paragon Bioservices, Inc. or the related financings on the terms previously agreed or difficulty in integrating the acquisition if closed or realizing on the anticipated business from the acquisition; changes to our business, our industry, or the overall economic climate that limit our ability to obtain the desired deleveraging, general industry conditions and competition; product or other liability risk inherent in the design, development, manufacture and marketing of our offerings; inability to enhance our existing or introduce new technology or services in a timely manner; economic conditions, such as interest rate and currency exchange rate fluctuations; technological advances and patents attained by competitors; and our substantial debt and debt service requirements that restrict our operating and financial flexibility and impose significant interest and financial costs; or difficulty in integrating other acquisitions into our existing business, thereby reducing or eliminating the anticipated benefits of the acquisition. For a more detailed discussion of these and other factors, see the information under the caption “Risk Factors” in our Annual Report on Form10-K for the fiscal year ended June 30, 2018 filed with the Securities and Exchange Commission. All forward-looking statements in this press release speak only as of the date of this press release or as of the date they are made, and we do not undertake to update any forward-looking statement as a result of new information or future events or developments unless and to the extent required by law.
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