US-based firm to acquire 75% stake of Navitas Life Sciences for $101 million

TE Raja Simhan Chennai | Updated on August 06, 2021

Navitas is a wholly owned subsidiary of the Chennai-based TAKE Solutions

An affiliate of H.I.G. Capital, a US-based alternative investment firm, will acquire a 75 per cent stake of Navitas Life Sciences, a wholly owned subsidiary of the Chennai-based TAKE Solutions, for $101.63 million, said HR Srinivasan, Vice Chairman and Managing Director, TAKE Solutions. This will accelerate growth of Navitas, he told BusinessLine.

TAKE Solutions, a ‘domain intensive services provider in life sciences’, on Friday entered into a definitive agreement for a strategic partnership with H.I.G. Capital, with $45 billion of equity capital under management.

“H.I.G will co-own the Navitas asset along with TAKE,” he said. The entire management team continues to remain the same and it will be an actively managed company in the TAKE Solutions portfolio.

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For the year ended March 31, 2021, Navitas contributed around 69 per cent of the overall revenue (₹774 crore) of TAKE Solutions. The transaction is expected to close in the fourth quarter of 2021, said a release from TAKE Solutions.

Headquartered in the US, Navitas delivers full-service clinical research and regulatory, and safety solutions for large blue-chip pharmaceutical and biotech clients across North America, Asia Pacific and Latin America.

“It has over 30 years of experience across 550+ phase I-IV clinical trials, 1,100 bioequivalence studies, 20+ therapeutic areas, and 40+ successful GCP/non-GCP audits,” the release said.

“We are delighted to partner with H.I.G. in our mission to accelerate access to outstanding drug development outcomes to people across the world by harnessing the power of technology and domain knowledge. H.I.G., with its global network and diverse experience across healthcare and life sciences, makes them an ideal partner to support Navitas’ continued growth as a Global Next Generation CRO,” said Srinivasan in the release.

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“The strength of Navitas’ global platform, with delivery centres in the US and India, provides unmatched solutions for its blue chip, global client base. We are excited to partner with Navitas’ talented leadership team and highly dedicated employees to further enhance the power of the platform and invest in delivery additional value for clients,” said Camilo Horvilleur, Managing Director at H.I.G. Capital.

Published on August 06, 2021

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