inVentiv Health Buys Kazaam

Private equity backed inVentiv Health Inc., a provider of clinical, commercial and consulting services to the healthcare industry, has acquired interactive agency Kazaam Interactive. Terms were not released. inVentiv Health is owned by Thomas H. Lee Partners and Liberty Lane.



inVentiv Health, Inc., offering best-in-class clinical, commercial and consulting services to the healthcare industry, today announced that it has acquired Kazaam Interactive, a full-service interactive agency providing comprehensive solutions and services for healthcare agencies and brands.


“Demand for digital and social media solutions has expanded rapidly among our clients as physicians, patients and payers have grown more technically savvy,” said Paul Meister, CEO of inVentiv Health. “Kazaam Interactive helps us to meet this growing demand with digitally-based programs that have been proven to deliver value. The combination of Kazaam’s cutting-edge technology with inVentiv Commercial’s  broad expertise in healthcare PR and communication will result in fully-integrated and powerful solutions for our clients.”


The acquisition of Kazaam Interactive will be fully funded with equity from funds affiliated with Thomas H. Lee Partners, L.P. (“THL”) and other existing stockholders.  THL, along with Liberty Lane IH LLC and other co-investors, acquired inVentiv in August 2010.


“inVentiv is well-positioned to capture additional market share through its range of products and services,” said Todd Abbrecht, Managing Director of THL.  “THL’s equity funding for the Kazaam acquisition reinforces our commitment to working with the senior leadership team at inVentiv to strengthen its position as a best-in-class global pharmaceutical services company.  We will continue to work closely with the Company to develop additional opportunities to maximize the global market opportunity for their expanded service offering.”


Kazaam Interactive will be part of inVentiv Health Communications, the public relations and advertising group within inVentiv’s Commercial segment. The acquisition will broaden inVentiv’s ability to provide clients with comprehensive digital solutions from strategy through execution and will augment its digital expertise across multiple businesses.


About inVentiv Health inVentiv Health, Inc. is a leading global provider of best-in-class clinical, commercial and consulting services to companies seeking to accelerate performance. inVentiv’s client roster includes more than 550 pharmaceutical, biotech and life sciences companies. With 13,000 employees in 40 countries, inVentiv rapidly transforms promising ideas into commercial reality.


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About Thomas H. Lee Partners, L.P. Thomas H. Lee Partners, L.P. (“THL”) is one of the world’s oldest and most experienced private equity firms. The firm invests in growth-oriented global businesses, headquartered primarily in North America, across three sectors: Business & Financial Services, Consumer & Healthcare and Media & Information Services.  THL’s teams partner with portfolio company management to identify and implement business process improvements that accelerate sustainable revenue and profit growth. THL strives to build great companies of lasting value and generate superior investment returns.  Since its founding in 1974, THL has raised more than $22 billion of equity capital, acquired more than 100 portfolio companies and has completed over 200 add-on acquisitions, representing a combined value of more than $150 billion.


About Kazaam Interactive Kazaam is a full-service digital marketing agency offering premier digital strategy and solutions to brands and organizations.  The company has worked with over sixty of the world’s largest brands and brings a real-world understanding for utilizing the online channels to strategically and tactically connect brands, organizations and customers. Kazaam’s strong customer focus, passion for excellence, and innovative thinking has fueled the company’s growth in revenue and client engagements throughout each of its first four years in business.


This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause our performance to differ materially. These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We wish to caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement. Such factors include, without limitation: the impact of our substantial level of indebtedness on our ability to generate sufficient cash to fulfill our obligations under our existing debt instruments or our ability to incur additional indebtedness; the impact of the consummation of any announced  and future acquisitions; whether funds affiliated with THL and/or other existing stockholders will agree to provide additional funding to support future acquisitions or other growth initiatives; the impact of any additional leverage we may incur in connection with the financing of acquisitions, on our ratings and the ratings of our debt securities; our ability to sufficiently increase our revenues and maintain or decrease expenses and cash capital expenditures to permit us to fund our operations; our ability to continue to comply with the covenants and terms of our senior secured credit facilities and to access sufficient capital under our credit agreement or from other sources of debt or equity financing to fund our operations; the impact of any default by any of our credit providers; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability to accurately forecast insurance claims within our self- insured programs; the potential impact of pricing pressures on pharmaceutical manufacturers from future healthcare reform initiatives or from changes in the reimbursement policies of third-party payers; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; the potential impact of financial, economic, political and other risks, including interest rate and exchange rate risks, related to conducting business internationally; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses into our operation, and the resulting synergies; the resolution of purchase price adjustment disputes in connection with our recent acquisitions and related impacts; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our client base; our ability to comply with all applicable laws as well as our ability to successfully implement from a timing and cost perspective any changes in applicable laws; our ability to recruit, motivate and retain qualified personnel, including sales representatives; the possibility that client agreements will be terminated or not renewed; any potential impairment of goodwill or intangible assets; consolidation in the pharmaceutical industry; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing, including initiatives by our clients to perform services we offer internally; the impact of customer project delays and cancellations; our ability to convert backlog into revenue; the potential liability associated with bringing new drugs to market, including potential liability from injury to clinical trial participants; the actual impact of the adoption of certain accounting standards; and our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Holders of our debt instruments are referred to reports provided to investors from time to time and the offering memorandums provided in connection with the issuance of our senior secured notes for further discussion of these risks and other factors.