Veronis Suhler Stevenson has acquired a majority stake in MediZine, a US business that publishes magazines for medical patients.
The firm is backing the existing management team, led by founder and chief executive Traver Hutchins and chairman Dale Lang, both of whom will keep significant stakes in the business.
This is the twelfth investment from the firm’s fourth fund, which was launched in April 2005.
MediZine was founded in 1994 and is based in New York. The four magazines have a readership of more than 100 million. The company also provides custom solutions and marketing services through its health databases.
Veronis Suhler Stevenson has about $2.8 billion under management and is based in New York and London. It recently bought education business Cambium Learning from US private equity firm J.H Whitney.