TMCnet News
Amulet Capital Acquires OPEN Health, Combines with Portfolio Company Peloton AdvantageAmulet (News - Alert) Capital Partners, LP ("Amulet"), a middle-market private equity investment firm based in Greenwich, CT, focused exclusively on the healthcare sector, announced today that it has acquired OPEN (News - Alert) Health ("OPEN Health"), a multi-disciplinary health communications and market access group. Amulet plans to merge OPEN Health with its existing portfolio company, Peloton Advantage ("Peloton"), a leading provider of medical communications services to Medical Affairs departments at pharmaceutical, biotechnology, and medical device companies. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20181204005135/en/ Terms of the transaction were not disclosed. The combined entity will operate in 7 locations across 3 continents, with approximately 520 employees. Current OPEN Health CEO David Rowley will continue to serve as the Company's CEO and will be supported on the executive team by Sandy Royden, Co-Founder of OPEN Health, and Carolyn S. Clark, MBA, and Michael J. McLaughlin, MD, Co-Founders of Peloton. David Rowley, OPEN Health CEO said, "The merger of Peloton and OPEN Health provides very strong strategic, geographic, therapeutic and management synergies. Both teams believe that as a combined entity we can provide a wider range of services to our current clients, as well as allowing for geographic expansion of core competencies on both sides of the Atlantic and beyond. We are very excited to be starting this new chapter in our corporate history with the founders of both businesses committed to a strong future together." Carolyn S. Clark, MBA, Co-Founder and President of Peloton said, "We have known David for many years and are delighted to merge with the OPEN Health team. This merger significantly expands our client footprint and financial profile globally, adding meaningul scale and profitability to our company. Working with OPEN Health to leverage our complementary offerings to 90% of the world's top 40 pharmaceutical companies will fuel continued growth, while maintaining best-in-class client service. We are pleased to have Amulet's financial support as we combine our efforts with OPEN Health to further enhance our results and expand our reach for our clients." Ramsey Frank, Partner and Co-Founder of Amulet said, "This is a transformational merger creating attractive pathways for growth for both Peloton and OPEN Health. We look forward to supporting the combined team's efforts to offer personalized solutions to biopharmaceutical clients across a range of medical affairs, commercial, health economics outcomes research, real-world evidence and market access functions. We are excited about the Company's future prospects and are committed to supporting the Company's continued development and expansion both organically and through thoughtful mergers and acquisitions." About OPEN Health Communications LLP OPEN Health is a multi-disciplinary health communications and market access group, operating within four core business areas: Medical Communications; Patient and Brand Communications; Value, Informatics (News - Alert) and Evidence; Consulting and Commercialisation. 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 www.openhealth.co.uk. About Peloton Advantage, LLC Peloton Advantage, LLC is a privately owned medical communications company specializing in strategic publication planning and associated content development for medical education programs. Peloton's teams support US and global accounts for large and small pharmaceutical, biotechnology, and medical device companies, contributing to the success of more than 100 products spanning all major therapeutic areas. For more information on Peloton Advantage, please visit www.pelotonadvantage.com. 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 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. Amulet Capital Partners' investment team has approximately 50 years of private equity experience. For additional information, please visit www.amuletcapital.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181204005135/en/ |
