NAMSA, which is backed by ArchiMed, has acquired Clinlogix, a provider of outsourced services for healthcare testing and clinical trials. No financial terms were disclosed.
NAMSA – one of four key investments of ArchiMed’s €1 billion MED Platform I fund – announces the strategic acquisition of Clinlogix. NAMSA and Clinlogix are Contract Research Organizations (CRO), offering cost saving, time-efficient outsourced services for healthcare testing and clinical trials.
Toledo, Ohio-based NAMSA, founded in 1967, is the only CRO in the world focused exclusively on end-to-end services for medical devices, offering consulting, testing and clinical research through every development stage, from conception to global regulatory approval and commercialization. Founded in 1999 and based in Lower Gwynedd, Pennsylvania, Clinlogix, expands NAMSA’s clinical trial testing capacity by some 25 percent, deepens NAMSA’s expertise in neurology, oncology, urology and nephrology and reinforces the firm’s ability to conduct global trials with facilities in Japan, Germany and Columbia.
“With ArchiMed’s financing, connections and industry knowledge, we’re building an entrepreneur-led global champion for the medical device industry,” says JeanMarie Markham, the founder and Chief Executive of Clinlogix. Post-merger, she will join the expanded group’s leadership team.
This latest buy-and-build transaction follows two other CRO acquisitions since ArchiMed bought NAMSA last September. New York-based Syntactx and Minneapolis-based American Preclinical Services were acquired in January and March respectively. The founders and managers of NAMSA and its three acquisitions hold a significant minority stake in the expanded group.
“With ArchiMed’s help, NAMSA has become a key consolidator in a highly fragmented industry,” says Christophe Berthoux, NAMSA Chief Executive. “Scale gives us power to offer clients savings and expedite time to market at a time of growing regulatory oversight and cost inflation for medical device development.”
Clinlogix, like NAMSA, is experiencing double-digit top and bottom-line growth. “NAMSA is blowing through its objectives and will deliver a four-year development plan in just one year,” says André-Michel Ballester, a Managing Partner at ArchiMed. “This company and its management team are gems.”
MED Platform I (MP I) buys majority stakes in platform companies in Europe and the US for $50 million to $500 million in association with existing owners and managers. MP I’s other platforms are Italy-based Bomi Group, Europe’s leading healthcare Contract Logistics Organization; Switzerland-based Stragen, a developer of hard-to-make generic drugs; and UK-based DHG, a North European leader in hospital equipment. ArchiMed also manages MED I, currently ranked the best performing buyout fund at a global level for the 2014 vintage, according to Preqin data. MED I has distributed more than four times invested capital to limited partners and has a total return in excess of six times invested capital.
About ArchiMed – www.archimed.group
ArchiMed is a leading private equity firm focused exclusively on the healthcare industry. ArchiMed serves as strategic and financial partner to European and North American small and middle-market businesses in targeted segments of healthcare, including pharmaceuticals, medical devices & technology, healthcare IT and consumer health.
ArchiMed bases its strategy upon integrated private equity, medical and operating expertise, and its trans-Atlantic platform that supports growth through internationalization. Over the last 20 years, ArchiMed’s leadership team has directly managed and invested in over 40 small to large-size healthcare companies globally, representing over €5 billion of investment. ArchiMed manages nearly €2 billion in assets across four funds, small-cap-focused MED I and MED II, gene & cell therapy-focused PolyMED and mid-cap-focused MED Platform I. ArchiMed is an impact investor and a signatory of the Principles for Responsible Investment, pledged to uphold the United Nations’ Sustainable Development Goals.