WindRose-backed Medical Knowledge Group taps adviser for future process

  • Medical Knowledge has Ebidta around $25 mln: sources
  • Timing of process undetermined
  • WindRose, formerly MTS Health Investors, recapped MKG in August 2017

WindRose Health Investors is preparing to bring data-driven healthcare marketing firm Medical Knowledge Group back to market, according to four people familiar with the matter.

The New York private equity firm has engaged Harris Williams for financial advice for an upcoming sales process, some of the people said.

A formal process for New York-based Medical Knowledge has yet to launch and the timing remains uncertain.

Founded in 2004 by CEO Leon Behar and CFO Ed Lazarowitz, Medical Knowledge offers analytics- and data-driven marketing and communications services to clients ranging from niche biotech and diagnostic companies to some of the world’s largest bio-pharma players.

While too early to say where price expectations stand, Ebitda sits around or upward of $25 million, some of the sources said.

WindRose, formerly known as MTS Health Investors, recapitalized Medical Knowledge Group in August 2017. Existing management maintained a minority ownership position in the company, an announcement at the time said.

WindRose’s investment provided an exit for Chicago’s CIVC Partners.

In related activity, Mountaingate Capital in May exited its investment in W2O, another healthcare-focused marketing communications company, via a sale to New Mountain Capital. Financial terms weren’t disclosed; however, the announcement said W2O anticipates revenue of more than $200 million in 2019.

WindRose in June completed a $200 million dividend recapitalization of myNexus after calling off a UBS-run auction that kicked off last fall, Buyouts reported.

WindRose the same month concluded its sales process for Ovation Fertility through a sale to Morgan Stanley Capital Partners valued in the ballpark of $150 million, Buyouts reported.

WindRose declined to comment, while Medical Knowledge Group and Harris Williams didn’t immediately respond to requests for comment.

Action Item: See WindRose’s latest Form ADV: https://bit.ly/31L424n