M&A Deal Summary

WCG Acquires MedAvante

On May 9, 2017, WCG acquired information technology company MedAvante from EW Healthcare Partners and Spring Mountain Capital

Acquisition Highlights
  • This is WCG’s 2nd transaction in the Information Technology sector.
  • This is WCG’s 6th transaction in the United States.
  • This is WCG’s 1st transaction in New Jersey.

M&A Deal Summary

Date 2017-05-09
Target MedAvante
Sector Information Technology
Buyer(s) WCG
Sellers(s) EW Healthcare Partners
Spring Mountain Capital
Deal Type Add-on Acquisition

Target

MedAvante

Hamilton, New Jersey, United States
MedAvante is a clinical science-driven data services company dedicated to maximizing signal detection in global clinical trials. With VirgilÔ, its electronic clinical outcome assessment (eCOA) platform, clinical research sponsors are able to maximize outcome data quality and increase operational efficiency for clinical trials across multiple therapeutic areas. MedAvante built the first electronic source (eSource) data platform and has conducted more than 687,000 assessments of 56,000 clinical trial subjects across 233,000 study visits. MedAvante’s eSource data has been accepted by both the Food and Drug Administration and the European Medicines Agency in successful regulatory submissions.

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Buyer(S) 1

Buyer

WCG

Princeton, New Jersey, United States

Category Company
Founded 2012
Sector Information Services
DESCRIPTION

WCG is a provider of regulatory and ethical review services for human research. The pioneer of independent ethical review, WCG continues to drive ingenuity in the clinical research space. WCG delivers transformational solutions that stimulate growth, foster compliance and maximize efficiency for those who perform clinical trials. WCG was founded in 2012 and is based in Princeton, New Jersey.


DEAL STATS #
Overall 6 of 18
Sector: Information Technology M&A 2 of 4
Type: Add-on Acquisition M&A Deals 5 of 17
State: New Jersey M&A 1 of 3
Country: United States M&A 6 of 18
Year: 2017 M&A 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-09 ProPhase

New York, New York, United States

ProPhase is a global provider of measurement-related specialty solutions in clinical trials. For over a decade, ProPhase has focused on applying innovation to optimize the selection, use, and analysis of behavioral endpoints to mitigate trial risk and maximize the likelihood of study success. ProPhase specializes in the development of new outcome measures, calibration of real world outcomes, placebo response mitigation, and prediction of treatment adherence. These approaches have led to successful trials in indications across the CNS spectrum, as well as multiple rare and orphan diseases.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-02 Patient Genesis

Fairfield, New Jersey, United States

Patient Genesis LLC (ConsentNow) is a developer of software which enables healthcare, pharmaceutical, and medical device companies to share important information with patients during the informed consent process in a format that is both easy-to-use and easy-to-understand. The technology employs custom video and animation segments to educate patients and online knowledge assessment questions to determine their level of understanding.

Buy -

Seller(S) 2

SELLER

EW Healthcare Partners

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 1985
PE ASSETS 3.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Essex Woodlands Health Ventures is a growth equity and venture capital specialist investment firm focused on opportunities across the healthcare sector. Specific areas of interest include biotechnology, pharmaceuticals, medical devices, and healthcare services/IT. Historically, Essex invested primarily in early and later-stage situations; however, today the firm also makes growth capital investments between $20 - $60 million in companies valued between $50 - $250 million, as well as private investments in public entities (PIPEs). Essex Woodlands was formed in 1985 and offices in Palo Alto, California; New York City; Houston, Texas; Shanghai and London.


DEAL STATS #
Overall 41 of 53
Sector: Information Technology M&A 1 of 2
Type: Add-on Acquisition M&A Deals 26 of 34
State: New Jersey M&A 3 of 4
Country: United States M&A 37 of 46
Year: 2017 M&A 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-24 Xenex

San Antonio, Texas, United States

Xenex is a manufacturer of LightStrike Germ-Zapping Robots. Xenex’s patented pulsed xenon Full Spectrum UV room disinfection system is a pesticidal device used for the advanced cleaning of healthcare facilities. Xenex’s mission is to save lives and reduce suffering by eliminating the deadly microorganisms that cause hospital acquired infections (HAIs). Xenex was founded in 2008 and is based in San Antonio, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-05-15 Key Health

Westlake Village, California, United States

Key Health manages a California based radiology and neurodiagnostic provider network that assists the workers' compensation and personal injury segments of the diagnostic services market. Key Health is based in Westlake Village, California.

Sell -
DESCRIPTION

Spring Mountain Capital is a growth capital firm focused on providing expansion capital to tech-enabled companies across North America. The Firm looks to invest in earlier stage companies ($2 to $20 million of revenue) with high growth rates, proven products/services, and a path to profitability. Spring Mountain generally looks to commit $5 to $15 million per transaction. Spring Mountain Capital was formed in 2001 and is based in New York City.


DEAL STATS #
Overall 9 of 20
Sector: Information Technology M&A 3 of 4
Type: Add-on Acquisition M&A Deals 7 of 18
State: New Jersey M&A 3 of 4
Country: United States M&A 9 of 20
Year: 2017 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-01 Splash

New York, New York, United States

Splash is an event marketing technology company that helps businesses market, measure, and scale their event marketing programs. Splash is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-17 BHS Specialty Chemicals

Salt Lake City, Utah, United States

BHS Specialty Chemicals LLC (formerly BHS Marketing LLC) is a manufacturer, blender and distributor of specialty chemicals with facilities in Salt Lake City, UT, Nampa, ID and Fort Lupton, CO. BHS primarily serves the food processing and water treatment industries.

Sell -