Frazier Healthcare Growth Buyout
Response to COVID-19

Message from the General Partners

Throughout our 29-year history, Frazier Healthcare Partners has built its reputation on an unwavering commitment to its stakeholders which include our limited partners and portfolio company team members, as well as a responsibility to strengthen the broader communities in which we work and live. In this unprecedented environment, we have redoubled our efforts on these core tenets.

As the COVID-19 situation continues to evolve, our priorities are as follows:

We are committed to balancing the long-term interests of all critical stakeholders – our Limited Partners, our portfolio companies and their employees and customers, and all members of the Frazier team.
We will prioritize the well-being of our stakeholders in each and every decision made.
We will do our best to ensure that every member of the Frazier portfolio network, including those temporarily without work, has access to healthcare throughout the crisis.
We will work diligently to bridge the gap in pay for those furloughed as a result of the pandemic.
We will seek opportunities to leverage our unique skills, platforms, and services at Frazier and across the portfolio, to help our greater society navigate through the crisis.

Our actions are grounded in these and in our commitment to do our part, to ensure a swift recovery of the global economy. We want you to know what Frazier is doing alongside its portfolio companies to remain strong, resilient, and well-positioned as we move through and beyond this crisis to come out stronger on the other side.

Nader Naini
Ben Magnano
Nathan Every
Brian Morfitt

Frazier Portfolio Co. COVID-19 Initiatives and Outcomes

We are grateful for the exceptional leadership at our portfolio companies and the ingenuity and hard work of their teams. Importantly, we are seeing the efforts of the entire Frazier team, working in tandem with our portfolio companies, yielding significant results. Here are some of the initiatives our portfolio companies are undertaking:

Diversified outsourced manufacturer primarily serving the medical device industry

EPTAM has been engaged to manufacture ventilator components (over 300,000 units) for a major medical OEM, in its New Hampshire and Colorado manufacturing facilities. The company is also producing 3D-printed medical masks for use by health system workers on the front lines. This work enables the company to contribute directly to the effort of providing essential equipment and supplies to fight COVID-19.
To maintain employee health and safety in the facilities during the pandemic, the company established proactive, comprehensive manufacturing SOPs, including staggered shifts, defined facility entrance and exit protocols, and worker-distancing measures.

Provider of in-home and mobile comprehensive health assessments

While its work providing in-home and mobile health assessments is temporarily suspended, Matrix is deploying its nationwide team of clinicians and its fleet of mobile clinics, to provide critical onsite testing services and clinical health services to companies of the Fortune 100, to accelerate back-to-work efforts.
Key to success is Matrix’s development of testing, distancing and PPE protocols and best practices for back-to-work and stay-at-work efforts, across diverse industries and workplaces. This effort is being led by Dr. Daniel Castillo, Chief Medical Officer at Matrix, and strategy and execution teams are conferencing weekly, advising both clinical and non-clinical organizations.
In initial collaboration with several large companies, Matrix has combined its own workforce with employees that have been furloughed by VCA, United Derm and United Digestive to provide services at distribution centers and manufacturing sites across multiple states.

Pharmaceutical and biopharmaceutical global supply chain solutions provider

As an essential service, PCI has stepped up to the responsibility of maintaining the critical supply of medicines, uninterrupted, to millions of patients worldwide. Because of the dedication and perseverance of its employees, all operations have been running business as usual, with no significant concerns or issues.
PCI has collaborated with partners to ensure flexible and creative solutions for each area of the business, including urgent packaging requests, assistance with logistics concerns, and unique Direct-to-Patient scenarios. In hard-hit Italy, PCI intervened and helped clients deliver compassionate-use medicines to help desperate COVID-19 patients.
PCI has engaged the services of Matrix to establish on-site employee health services to provide PCI employees with additional COVID-19 compliance and health support procedures.

Frazier-Wide COVID-19 Efforts

We are also employing numerous initiatives across all companies:

Implemented Telehealth initiatives, ensuring continuity of care and enhanced patient communication during this time, at our provider-based businesses including Caravel, Matrix, United Derm Partners, United Digestive and VCA. We believe that as patients become increasingly comfortable with the concept of remote care, telehealth will continue to be an important and rapidly expanding healthcare alternative once the crisis subsides. With that in mind, Frazier’s IT Executive Partner team is developing technologies and strategies to ensure our portfolio companies are ahead of the curve in optimizing this delivery system for the long-term.
Human Capital support to portfolio companies, including:
- helping teams optimize the benefits of the recent FFCRA and CARES Act;
- supporting communication efforts to ensure employees remain healthy, engaged and ready to return to work; and
- providing tools, templates, and resources to share with employees who have been negatively impacted by the effects of COVID-19.
Created crisis management workstreams for various verticals including Legal, Finance and Human Capital, enabling our portfolio companies to learn from our Executive Partners and their peers. We’re conducting weekly group conference calls with the CFOs and HR groups of all our portfolio companies to distribute best practice information and new government program details.
Leveraging the work of Dr. Castillo and the Matrix team, guided re-opening and ramping plans and procedures are well underway at many of our businesses. Working groups have been established to develop and share best practices across the portfolio, addressing the use of diagnostic testing and PPE for staff, patients and customers, and measures to ensure adequate availability of supplies and pharmaceuticals.

Parata and CPS came together to establish the Pharmacy Employee Relief Fund to help pharmacists, pharmacy technicians and pharmacy employees experiencing financial hardship due to illness, quarantine, business closure or school closure in the wake of the COVID-19 outbreak. Parata and CPS made initial contributions of $100,000 each and invited industry partners who provide technology, pharmaceuticals, supplies and services to pharmacies across the country to contribute as well.