International Transactions
January 2017 Financial Technology, Data, and Analytics
Private equity firm Pamplona Capital, headquartered in the UK, invests $135 million in Logicworks Corporation based in New York, NY
Pamplona has become a very aggressive acquirer of healthcare assets in the U.S. Logicworks offers cloud solutions for disaster recovery of EMR platforms and medical image archiving. The company essentially helps healthcare enterprises move to the cloud and thereafter assists its clients to monitor their cloud usage. We are super impressed how quickly the company pivoted from a simple hosting company to a software and services business. Our hat is off to their smart CEO, Kenneth Ziegler.
PCS Professional Clinical Software GmbH based in Austria is acquired by GPI S.p.A of Italy for $14 million
PCS develops software for surgery management, pathology and telemedicine. GPI is a broad based healthcare software company with activities ranging from medical supply logistics to hospital information systems.
Newport Beach, CA – based Alliance HealthCare Services receives expression of interest to be taken private by Fujian Thai Hot
Alliance is a provider of outsourced radiology and oncology services. Fujian already owns 52% of the company and is interested in purchasing the rest. The company is a diversified holding company involved in a variety of industries including healthcare, real estate and hospitality. With $13 billion of assets, the company is aggressively looking for investments outside its home country in China. The deal is $50 million in size.
German-based Clue, raises $20 million of capital led by Nokia Growth Capital
Clue is a mobile app which helps women track their monthly menstrual cycle. The app helps women to track ovulation cycles and different symptoms that the body might experience with hormonal changes. Clue claims that it already has 5 million users in 190 countries. Given that half of the world population is female, we think this company will be extremely successful. The platform can grow to encompass other female specific diseases. Clue has raised $30 million of capital to date.
Exco InTouch based in the UK is purchased by eResearch Technology of the U.S.
eResearch is one of the premier patient safety and efficacy data collection companies for clinical trials. Exco, founded in 2004, is in a similar business and most known for its technology in data capture which can be seamlessly accessed by patients, site managers and study teams.
Indegen Lifesystems buys The Encima Group based in Newark, DE for $16 million
The Encima Group provides omnichannel marketing and analytics solution for pharma and life science industries. The purchase of Encima is a clear indication of Indegen’s (based in India) international aspirations.
China-based TopGene receives a $14 million investment in Series A led by Matrix Partners
TopGene focuses on DNA testing and screening of genes connected to breast, colorectal and lung cancers. The number of gene sequencing companies has grown exponentially worldwide, including China. The fact that this round was led by a U.S. based firm, attests to the attractiveness of the market. In just two years, the company has expanded in 30 different provinces.
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