Written on Thursday 28th July 2022
London, U.K.; Hingham, MA; Washington, D.C. – July 28, 2022 – OPEN Health, a pre-eminent global provider of scientific communications and market access services, announced that it signed a binding agreement to acquire The CM Group, a leading US domestic medical communications platform from NaviMed Capital (“NaviMed”). The partnership between OPEN Health and The CM Group expands the platform’s global reach and portfolio of best-in-class scientific solutions for the pharma and biotech industry.
Daniel Leonard, CEO of The CM Group, said, “We are thrilled to join OPEN Health and continue on the journey of being a strategic partner to pharma and biotech customers. With new colleagues and capabilities to utilize, we now have the ingredients to offer an even better suite of integrated solutions to our clients.” In addition, he commented, “I would like to thank NaviMed Capital for their partnership in helping The CM Group develop and execute its vision to strengthen its core competencies while expanding into new services and technologies.”
NaviMed’s Dr. Bijan Salehizadeh, Co-Founder and Managing Director, and Ryan Ross, Principal, commented, “Our journey with The CM Group began with a strong foundation, which enabled acquisitions and expansions that further entrenched its market position across US scientific communications. We believe that OPEN Health is an ideal partner to lead the company’s next growth phase as a global scientific leader, and we are excited about the company’s bright future.”
“The CM Group provides us with a significant scientific communication offering within the US domestic market place. Our clients are global and need providers who understand not only the increasing complexity of the science, but also the ever-changing global and local landscapes,” said OPEN Health CEO, Rob Barker. “We are excited to welcome The CM Group into the OPEN Health family and look forward to working with our new colleagues to offer our clients innovative, scientific solutions around the globe.”
The terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals.
Harris Williams served as financial advisor to The CM Group and Houlihan Lokey advised OPEN Health on the transaction.
About OPEN Health
OPEN Health brings together deep scientific knowledge, global understanding, and broad specialist expertise to support our clients in improving health outcomes and patient wellbeing. We are united as one flexible organization, harnessing the power of the collective to solve complex challenges.
About The CM Group
Grounded in science—and powered by the patient voice—The CM Group is an integrated healthcare agency of innovative and imaginative subject-matter experts dedicated to providing scientific and commercialization strategies and services to the life sciences industry. For more information on the CM Group please visit www.thecmgroup.com.
About NaviMed Capital
NaviMed is a Washington, D.C.-based private capital firm with over $400 million of assets under management, focused exclusively on the healthcare industry. NaviMed invests in fast-growing lower-middle market healthcare businesses that NaviMed believes are poised to benefit from the reform and technology innovation reshaping the healthcare industry. The firm focuses on healthcare services, healthcare IT, hospital products and pharmaceutical services businesses. NaviMed targets profitable private companies with up to $10 million of EBITDA and double-digit revenue growth. NaviMed’s senior investment team has a track record of value creation spanning, in the aggregate, dozens of investments and more than $11 billion of enterprise value created over the course of their combined careers.
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