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US Blackstone forms healthcare group

New York-based Blackstone Group has hired three healthcare industry veterans to form Blackstone Healthcare Partners, which will be the focal point of Blackstone's pharmaceutical and medical products investments.

Blackstone has recruited Lodewijk de Vink, former chairman, president and chief executive of Warner-Lambert, Aleksander Erdeljan, former chairman, president and chief executive officer of R.P. Scherer, and Doug Rogers, a managing director at Donaldson, Lufkin & Jenrette's healthcare merchant banking group.

‘We believe there is enormous long-term potential in the healthcare sector,' said Stephen Schwarzman, president and chief executive officer at Blackstone Group. ‘Lodewijk, Alex and Doug are highly experienced healthcare executives who bring us deep industry knowledge and contacts.'

Blackstone joins a growing number of private equity firms who have bolstered their healthcare expertise over the past 12 months, reflecting the relative buoyancy of the sector. ABS Capital Partners recently hired Cal Wheaton as principal, UK Inflexion recruited Tony Caplin to its advisory board and US Summit Partners hired Craig Frances to head its healthcare and life sciences team.

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