Comments
The Carlyle Group and Brighton Park Capital will acquire a minority stake in Indegene, a Bengaluru-based enterprise healthtech solutions provider, for $200 million.
The transaction consists of a secondary sale from existing shareholders of Indegene and a primary investment into the company, a press statement from Indegene said.
Founded in 1998 by first-generation entrepreneurs, Indegene is a transformation partner to the global life sciences industry. With more than 3,000 employees across North America, Europe, China, Japan and India, it provides technology platforms and commercialisation services to pharmaceutical, biotechnology and medical device companies.
Clients partner with Indegene to design, build and manage digital-first operations that leverage data and automation to accelerate clinical development, improve regulatory compliance, enhance customer experience, and drive commercial success, said the statement.
Given the wider adoption of digital initiatives within the healthcare industry, Indegene plans to use the primary investment from Carlyle and Brighton Park to accelerate its M&A and global expansion plans, it added.
“The collective strength of Carlyle and Brighton Park will bring significant value to Indegene as we build on the deep domain knowledge and vertical technology we have developed over the past 20 years. Carlyle’s commitment to the healthcare sector with their global network and deep pharmaceutical expertise, coupled with Brighton Park’s deep experience in the technology sector and nuanced understanding of our space, makes the two firms the ideal partners to support our company’s continued growth,” said Manish Gupta, co-founder and CEO of Indegene.
Global delivery model
“We have been impressed by the strong entrepreneurial energy of the management team at Indegene and their technology-led, data-driven, differentiated global delivery model, as well as by their ability to scale relationships with global healthcare enterprises. We believe this puts Indegene in a strong position to benet benefit from the significant growth drivers we are seeing in the healthcare space,” said Neeraj Bharadwaj, Managing Director of the Carlyle Asia advisory team.
Mark Dzialga, the Managing Partner of Brighton Park Capital, said: “With a strong technology platform and a digital-first approach, Indegene has established a reputation for high-quality content, analytics and other healthcare solutions provided through a seamlessly integrated system. Over the last decade, Indegene has made significant organic and inorganic investments in building a technology portfolio that caters exclusively to healthcare. This has enabled the company to grow at more than 25 per cent revenue CAGR over a decade. This growth rate is accelerating with strong industry tailwinds driving a rapid shift towards digital-first operations.”
Torreya, Seyfarth Shaw, Deloitte, KPMG and Tatva Legal advised Indegene on this transaction. Moelis & Company, EY, Shardul Amarchand Mangaldas & Company, Latham & Watkins and Bain & Company acted as advisors for Carlyle. Brighton Park Capital was advised by EY, Paul Weiss and Bharucha & Partners.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.