Renovus Capital Partners has announced it has made a majority investment in ToxStrategies. 

ToxStrategies, based in Katy, Texas, is a multidisciplinary scientific consulting firm. Founded in 2008, the company’s client base includes pharmaceutical companies, medical device companies, health and beauty care companies, and government agencies.

Renovus, based in Philadelphia, is a lower middle market private equity firm that invests in a few sectors, including healthcare services. Founded in 2010, the firm invests across a range of healthcare companies, including those in life sciences commercialization, IT, revenue cycle management and behavioral health.

Terms of the investment were not disclosed. PitchBook reported the value of the investment was $40 million.