ICON plc, a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, has agreed, subject to certain customary closing conditions, to acquire MediMedia Pharma Solutions for a cash consideration of $120 million. MediMedia Pharma Solutions is division of MediMedia USA and is owned by Vestar Capital Partners.
The acquisition strengthens ICON’s expertise in scientific communications and market access and, together with ICON’s existing Commercialisation and Outcomes practices, creates the industry’s leading integrated scientific communications and market access solution.
Headquartered in Yardley, Pennsylvania, MediMedia Pharma Solutions includes MediMedia Managed Markets and Complete Healthcare Communications. MediMedia Managed Markets is a leading provider of strategic payer-validated market access solutions. Complete Healthcare Communications is one of the leading medical and scientific communication agencies working with medical affairs, commercial and brand development teams within life science companies. MediMedia Pharma Solutions has supported hundreds of development launches and in-market products, spanning over 40 therapeutic classes.
Commenting on the acquisition, Ciaran Murray, ICON chief executive officer, says: “The need to demonstrate and communicate the value of new medicines is an important global healthcare trend. Through ICON’s market leading commercialisation and outcomes group we are supporting our customers to maximise the value of their new drugs. Our acquisition of MediMedia Pharma Solutions deepens the expertise of this group and brings us outstanding scientific and medical communications capabilities.”
Tim Search, president of MediMedia Pharma Solutions, commented, “The combination of the commercial, scientific, and market access expertise of MediMedia Pharma Solutions and ICON creates an unparalleled offering that can inform product investment decisions and establish and communicate product value. With the shift to evidence-based medicine and value-based pricing, we are excited about the expanded expertise and capabilities our relationship with ICON brings to our combined customers.”
MediaMedia Pharma Solutions is a combination of MediMedia Managed Markets and Complete HealthCare Communications. MediMedia Managed Markets is a leading provider of strategic payer-validated market access solutions for the biopharmaceutical and medical device industries. Their comprehensive approach includes scientific analysis and assessment, research and insights, strategic development, tactical development, and programme execution. Complete HealthCare Communications is one of the largest medical communication agencies and is a pioneer in publication services, providing strategic consulting, software solutions, and scientific communications to medical affairs teams for life sciences firms globally.
Vestar Capital Partners is a leading US middle-market private equity firm specialising in management buyouts and growth capital investments. Vestar invests and collaborates with incumbent management teams and private owners in a creative, flexible and entrepreneurial way to build long-term enterprise value. Vestar targets equity investments in US-based middle-market companies with enterprise values ranging from $200 million to $1 billion. Vestar has extensive experience investing across a wide variety of industries including Consumer, Healthcare, Digital Media, Information Services, Diversified Industries, and Financial Services. Since Vestar’s founding in 1988, Vestar funds have completed more than 70 investments in companies with a total value of more than $40 billion.