Providence Equity Partners has made an undisclosed investment in life sciences software platform Anju Software. As a result of this funding, Anju has acquired Online Business Applications, a provider of medical communication systems and drug safety compliance software for the pharmaceutical, biotechnology and medical device sectors. Madison Park Group acted as financial advice to Anju Software on the transaction.
Chicago, IL. June 13, 2016 – Anju Software, a life sciences software platform, announced today that it has acquired Online Business Applications (OBA), a global provider of medical communication systems and drug safety compliance software for the pharmaceutical, biotechnology and medical device industries. As part of this transaction, Anju raised funding from Providence Strategic Growth (PSG), the growth equity affiliate of Providence Equity Partners, a global private equity firm with $45 billion in assets under management.
OBA’s medical information management software solution, IRMS Online, enables users to capture requests for medical information, respond to those requests and accurately report and track all necessary information. IRMS Online serves as the core component for several other modules designed to seamlessly integrate as a complete collaboration tool for the post-market lifecycle, including offerings in adverse events, product complaints, content management and quality assurance. OBA’s customers include many of the world’s largest life sciences companies and clinical research organizations.
“The acquisition of OBA provides Anju Software with a world class medical information software platform that has become the industry standard. Providence’s investment and expertise will allow us to continue supporting OBA’s customer base and expand the offering to meet the needs of all of its clients in a rapidly-evolving space.” said Kurien Jacob, CEO of Anju Software.
Alexis Egan, Managing Director of Providence Strategic Growth, added, “We are excited to partner with Kurien Jacob and the Anju/OBA management teams to continue the development and growth of a market leading life sciences compliance software company. As the life sciences regulatory environment continues to evolve, we see a vital need for OBA’s solutions in the pharmacovigilance market and a tremendous potential in the broader life sciences software market.”
“OBA needed an infusion of capital and additional management to realize the full potential of the company in the growing field of capturing and managing data in the life sciences vertical. Anju provided an experienced management team and capital through the partnership with PSG. I will stay on as part of the management team to help with the growth plans for OBA.” said Dennis Oles, founder of OBA.
Madison Park Group served as financial advisor and Snell and Wilmer served as legal advisor to Anju Software.
About Anju Software
Anju Software is a life sciences enterprise software platform focused on delivering exceptional business application solutions with outstanding customer support. Anju was founded by a group of operating and investment professionals with deep software domain expertise and a proven track record of building software platforms through strategic acquisitions and organic growth.
About Providence Equity
Providence is a premier, global asset management firm with $45 billion in assets under management across complementary private equity and credit businesses. Providence pioneered a sector focused approach to private equity investing with the vision that a dedicated team of industry experts could build exceptional companies of enduring value. Since the firm’s inception in 1989, Providence has invested in more than 150 companies and is the leading equity investment firm focused on the media, communications, education and information industries. Providence is headquartered in Providence, RI and also has offices in New York, London, Hong Kong, Singapore and New Delhi. For more information on Providence Equity, please visit www.provequity.com.
About Online Business Applications (OBA/IRMS)
Online Business Applications has been developing software for medical information departments for over thirty years. Their comprehensive understanding of the unique requirements of these departments enables them to effectively deliver solutions to their clients that are appropriate and cost effective. Engineered in partnership with over 100 pharmaceuticals, biotech and medical device companies, IRMS has extensive off-the-shelf functionality. IRMS offers enhanced tools, robust reporting, document and correspondence management, FAQ database, and built-in data and privacy protection. For more information about OBA/IRMS, please visit www.irmsonline.com.