Open Health to merge with Pharmerit International

Amulet Capital Partners LP said Nov. 4 that its portfolio company Open Health has agreed to merge with Pharmerit International LP. Financial terms weren’t announced. Open Health is a health communications and market access group.


Amulet Capital’s OPEN Health Merges with Pharmerit International

Transaction creates the leading provider of HEOR, market access, medical affairs and healthcare communications services to pharmaceutical companies across US, Europe and Asia

November 04, 2019 06:00 AM Eastern Standard Time

LONDON & BETHESDA, Md. & GREENWICH, Conn.–(BUSINESS WIRE)–Amulet Capital Partners, LP (“Amulet”) is pleased to announce that its portfolio company OPEN Health (“OPEN Health”), a leading multi-disciplinary health communications and market access group, has agreed to merge with Pharmerit International, LP (“Pharmerit”), the largest independent global provider of health economics and outcomes research (HEOR) and strategic market access services to the pharmaceutical industry.

Terms of the transaction were not disclosed.

Amulet acquired Peloton Advantage, a leading U.S. provider of medical publications services to the pharmaceutical industry, in February 2018 and merged the business with OPEN Health in December 2018.

The integrated group will operate in 15 locations across three continents, with over 700 employees. David Rowley and Sandy Royden will continue to lead OPEN Health, working closely with Marc Botteman, Jennifer Stephens and Ben van Hout, Managing Partners and Co-Founders of Pharmerit.

Sandy Royden, OPEN Health Co-Founder and COO said, “We are very pleased to merge with Pharmerit to create the leading global provider of HEOR, market access, medical affairs and healthcare communications services to pharmaceutical companies. Both OPEN Health and Pharmerit have seen strong growth in recent years and, based on the two companies’ complementary service offerings and geographic coverage, as well as close relationships with both large pharma and emerging biotech accounts, the combined company will be ideally positioned to serve its customers across a broad spectrum of HEOR, market access and medical affairs activities, driving accelerated organic growth. All of this is, of course, underpinned by a strong interpersonal and cultural fit between the two teams, with shared values around collaboration and intellectual curiosity.”

Marc Botteman, Managing Partner and Co-Founder of Pharmerit said, “Over the past two decades, we have proudly grown Pharmerit into a global strategic leader dedicated to our mission of demonstrating and communicating the value of innovative healthcare interventions with the development of rigorous evidence. In joining OPEN Health, we are significantly expanding our client base, which will enable us to provide a wider range of integrated services to our clients, notably their medical affairs groups. We very much look forward to working with the OPEN Health management and Amulet teams to contribute to the long-term growth of OPEN Health.”

Ramsey Frank, Partner and Co-Founder of Amulet said, “This transaction aligns with our stated goal of growing the OPEN Health platform through thoughtful mergers and acquisitions. OPEN Health and Pharmerit have highly complementary capabilities, as well as an outstanding geographic, customer & therapeutic fit. As a value-added partner, we see significant opportunities to build upon these synergies, making future strategic investments that will lead to sustainable and profitable growth, while remaining focused on operational excellence.”

Edgemont Partners acted as sole financial advisor to Pharmerit on the transaction.

About OPEN Health Group

OPEN Health is a multi-disciplinary health communications and market access group, operating across three core business areas: Medical Communications; Patient and Brand Communications; and Value, Informatics and Evidence. OPEN Health was formed in 2011, and whilst working across a broad therapeutic range has a strong focus on oncology, rare diseases and specialist medicines. For more information on OPEN Health, please visit

About Pharmerit International, LP

Pharmerit International is a global, premier health economics and outcomes research (HEOR) consultancy with 20 years of experience supporting pharmaceutical, biotechnology, and medical device organizations in health economics and outcomes research (HEOR) and market access worldwide. Pharmerit delivers quality research across four multi-disciplinary Centers of Excellence, Modelling & Meta-Analysis, Patient-Centered Outcomes, Real-World Evidence, and Strategic Market Access. Pharmerit has offices in Berlin, Bethesda, Boston, Mumbai, New York, Rotterdam, York, and Shanghai. For further information on Pharmerit International, please visit

About Amulet Capital Partners, LP

Amulet Capital Partners, LP is a middle-market private equity investment firm based in Greenwich, CT, focused exclusively on the healthcare sector. Amulet seeks to achieve long-term capital appreciation through privately negotiated investments in leading healthcare companies. Amulet Capital Partners focuses on those segments it believes have the most attractive long-term fundamentals with a target investment size generally between $25 million to $150 million. For additional information, please visit