PRESS RELEASE
Ergomed strongly positioned for future growth
in new partnership with Permira
- Permira completes acquisition of Ergomed for £703.1 million
- Through this partnership, Permira will support Dr. Miroslav Reljanovic and the team in Ergomed's next phase by accelerating the growth of the business
- Investment to focus on commercial expansion, technology and strategic M&A
Guildford, UK and London, UK - 14 November 2023: Ergomed plc ("Ergomed") and Permira Advisers LLP ("Permira"), are pleased to announce the completion of the acquisition of Ergomed by funds advised by Permira (the "Permira Funds") for £703.1 million.
Ergomed is a differentiated Pharmacovigilance ("PV") and Contract Research Organisation ("CRO") platform with a strong track record in the complex oncology and rare diseases spaces and a reputation for high-quality, bespoke, customer centric delivery across its services.
Ergomed operates in growing markets which benefit from increasing complexity, regulatory requirements and outsourcing rates. Dr. Miroslav Reljanovic, founder and Executive Chairman, and the management team have made strong progress in recent years, strengthening both CRO and PV capabilities organically and through acquisitions.
Permira has an extensive track record in the pharma and pharma services sector, deploying capital and expertise into growth-orientated businesses and partnering with founders and management teams in achieving their strategic ambitions. Permira's deep industry-specific knowledge and strong network in the healthcare space will allow it to support the next phase of growth for Ergomed by investing in the business' commercial expansion, technology transformation and geographic reach, as well as providing additional capital to undertake strategic acquisitions.
Dr. Miroslav Reljanovic, Executive Chairman of Ergomed, said: "With a strong commitment to service quality and customer service, Ergomed has grown significantly to become a global, geographically diversified player in the CRO and PV sectors. Permira is a highly experienced healthcare investor with a track record of building successful global businesses, which will support us to build on the foundations we have created. Permira brings operational expertise, a global network, capital and, equally importantly, a like-minded approach to how to accelerate our growth. We believe the acquisition will significantly increase our ability to invest in our geographical expansion, commercial infrastructure, and technology, and to execute strategic M&A in both the CRO and PV businesses."
Silvia Oteri, Partner and Global Head of Healthcare at Permira, said: "We are delighted to complete the acquisition of Ergomed, a medic-led, high quality and fast-growing pharma services platform. It is a privilege to be partnering with Miro and his team, who had the vision of creating a leading outsourcing partner in pharmacovigilance and in oncology and rare disease clinical development, helping clients safely develop and commercialise complex and often life-saving therapies for patients. Through this partnership, we will help Miro and the team to further build and accelerate on the very strong foundation they have already laid."
ENDS
Enquiries: | |||
| Ergomed | +44 (0) 1483 307 920 | ||
| Dr. Miroslav Reljanovic (Executive Chairman) Jonathan Curtain (Chief Financial Officer) Keith Byrne (Senior Vice President, Capital Markets and Strategy) | |||
| ICR Consilium (PR adviser to Ergomed) | +44 (0) 20 3709 5700 | ||
| Chris Gardner Matthew Neal ergomed@consilium-comms.com | |||
| Headland Consultancy Limited (PR adviser to Permira) | +44 (0) 20 3805 4822 | ||
| Lucy Legh Rob Walker Charlie Twigg Permira@headlandconsultancy.com (mailto:Permira@headlandconsultancy.com) | |||
About Ergomed plc
Ergomed provides specialist services to the pharmaceutical industry spanning all phases of clinical development, post-approval pharmacovigilance and medical information. Ergomed's fast-growing services business includes an industry-leading suite of specialist pharmacovigilance.
About Permira
Permira is a global investment firm that backs successful businesses with growth ambitions. Founded in 1985, the firm advises funds with total committed capital of approximately €77bn and makes long-term majority and minority investments across two core asset classes, private equity and credit. The Permira private equity funds have made approximately 300 private equity investments in four key sectors: Technology, Consumer, Healthcare and Services.
The Permira funds have an extensive track record in healthcare investing, having deployed over €4 billion in approximately 20 companies to scale some of the most innovative healthcare businesses globally across specialty pharma, medical devices, strategic outsourcing platforms and healthcare technology. Current and previous investments from the Permira funds in the sector include Kedrion, Cambrex, Neuraxpharm, LSNE, Quotient Sciences, I-MED and Althea.
Permira employs over 500 people in 15 offices across the United States, Europe and Asia. For more information visit www.permira.com.
