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Strategic Advisor·Pharma Services

Paul H. Johnson

Executive Chairman at Tjoapack

San Antonio, Texas, U.S.

PH
Why they matter

Executive Chairman of Tjoapack and 30-year CDMO operator who sold DPT/Renaissance to Mylan for $950M — brings both operating and PE-diligence lenses to topicals/injectables manufacturing.

Background

Paul H. Johnson is a 30-year pharmaceutical and medical device executive who built his reputation as President and CEO of DPT Laboratories/Renaissance Pharmaceuticals, a topicals-focused CDMO he ran through its $950M sale to Mylan in 2016. He subsequently became an Operating Partner at Ampersand Capital Partners (2018–2025), a healthcare-focused PE firm, using that platform to chair the boards of several Ampersand CDMO portfolio companies, including Tjoapack, where he has served as Executive Chairman since December 2022.

Notable deals

  • 2016
    President & CEO of DPT Laboratories/Renaissance Pharmaceuticals when RoundTable Healthcare Partners sold the topicals CDMO business to Mylan N.V. for $950M cash plus up to $50M contingent
  • 2018
    Joined Ampersand Capital Partners as Operating Partner, directing operating support across its CDMO/pharma-services portfolio
  • 2022
    Named Executive Chairman of Tjoapack, the injectables/pre-filled-syringe packaging CDMO backed by Ampersand's majority investment
  • 2024
    Added to Lifecore Biomedical's (NASDAQ: LFCR) board of directors as part of a cooperation agreement with activist investor 22NW, LP

Call-prep brief

Background

  • 30+ years operating and governing pharma/medical-device manufacturers, concentrated in the CDMO niche.
  • Built career at DPT Laboratories (President 2002–2015, CEO 2015–2016), sold with Renaissance Pharmaceuticals to Mylan for $950M in 2016.
  • Operating Partner at Ampersand Capital Partners, 2018–2025, a healthcare-focused PE firm active in CDMO roll-ups.

Current focus

  • Executive Chairman, Tjoapack (injectables/pre-filled-syringe packaging CDMO, Ampersand portfolio company) since Dec 2022.
  • Board director, Lifecore Biomedical (NASDAQ: LFCR), added Aug 2024 via a cooperation agreement with activist 22NW, LP.
  • Prior board chair roles at MedPharm Ltd. (2018–2024) and Phosphorex (since 2023) — both CDMOs.

What he cares about

  • Operational scale-up and quality/regulatory rigor in sterile and topical manufacturing.
  • PE-backed buy-and-build strategy in fragmented CDMO end-markets.
  • Board governance discipline, having sat through an activist campaign at Lifecore.

Recent moves

  • Stepped off Ampersand's Operating Partner role in March 2025 — may now have more bandwidth for outside advisory or board work.
  • Rotated off MedPharm's board in Jan 2024 around its merger with Tergus Pharma.

Sensitivities

  • Active public-company director (Lifecore) — avoid discussing anything that could touch MNPI or Lifecore-specific strategy.
  • Ampersand ties mean he may be conflicted on deals competing with Ampersand's CDMO portfolio (Tjoapack, MedPharm/Tergus, Vibalogics).

Questions to ask

  1. What made the DPT/Renaissance-to-Mylan process work, and what would you do differently in today's market?
  2. How do you evaluate CDMO management teams and quality systems during diligence?
  3. Where do you see the next wave of consolidation in topicals/injectables CDMOs?

Outreach draft

Subject
Quick call on CDMO diligence perspective
Hi Paul, I'm reaching out from a private equity group evaluating opportunities in the pharma services/CDMO space. Your run leading DPT Laboratories through its sale to Mylan, and now your board work at Tjoapack, MedPharm, and Lifecore Biomedical, gives you a rare combination of operating and governance perspective on this sector. We're doing diligence on a CDMO opportunity and would value 20-30 minutes of your time to discuss how you think about quality systems, management evaluation, and consolidation dynamics in topicals and injectables manufacturing. Happy to work around your schedule. Would you be open to a short call in the next couple of weeks? Best, [Your Name]

Linked companies

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