Sarah Pringle
Pareto, which helps midsize businesses mitigate employee benefit costs, was expected to command a more than $200 million valuation.
The company serves customers across the biotech and pharmaceutical, clinical diagnostics, food, ag-bio and environment, and research and government markets.
Arsenal’s WCG preps for sale, Vesey’s Feinstein talks healthcare
"We’re investing in healthcare services companies in the Ebitda range of $5 million to $30 million that offer meaningful growth opportunities."
The transaction was done outside of a formal process with no sell-side adviser engaged.
PE-backed WIRB-Copernicus Group, which offers compliance- and eClinical-related services to drive efficiency in the clinical trial process, is gearing up for a sales process.
A deal was expected to value Chicago’s GoHealth around or just south of $1.5 billion; however, the New York private equity firm ultimately pulled back due to issues around price.
The transaction provides an exit for Formation Capital and Safanad Ltd
William Blair advised Linden, while Golub Capital and Northwestern Mutual provided debt financing for the transaction.
How Bain leverages collaboration with tech, life sciences teams