News

NewSpring Capital Partner Recognized as E&Y Entrepreneur of the Year Award Winner

RADNOR, PA, December 10, 2009 – NewSpring Capital, headquartered in Radnor, PA, is pleased to announce that NewSpring Healthcare Capital Partner, Bruce L. Downey, the former Chairman and CEO of Barr Pharmaceuticals, Inc., was named the Ernst & Young Entrepreneur of the Year 2009 national winner in the Health Sciences category at the recent awards gala in Palm Springs. Now in its 23rd year, the awards recognize leaders and visionaries who demonstrate innovation, financial success and personal commitment as they create and build world-class businesses.

“We are extremely pleased for Bruce,” said Brian Murphy, General Partner of NewSpring Capital. “His strategic vision and keen eye for talented management teams were determining factors in building Barr from annual revenues of $60 million to over $2.5 billion in 2008.  No fewer than seven CEOs or COOs now in the pharmaceutical business were once executives at Barr Pharmaceuticals, which is further testament to Bruce’s management style,” stated Murphy.  Barr Pharmaceuticals was sold in December 2008 for approximately $9.0 billion to Teva Pharmaceutical Industries, bringing to a close Downey’s leadership of the Company.  Mr. Downey joined NewSpring Health Capital as a Partner in April of this year.

Complete information on Ernst & Young Entrepreneur of the Year Awards, can be found at www.ey.com/us/eoy.

 

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