European private equity firm Astorg announced Tuesday that it will purchase former MM+M Agency 100 honoree Open Health from Amulet Capital Partners, a U.S.-based middle-market PE firm.
Created in 2011 and based in London, Open Health specializes in market access and medical communication consulting services.
Astorg’s acquisition of Open Health is slated to support and accelerate the next phase of growth for the company, according to a press release. Astorg said it plans to invest in the development of existing offerings and focus on ensuring that quality scientific content is delivered to pharma clients.
The deal marks the latest healthcare-related acquisition for Astorg, following its purchase of CordenPharma, a pharmaceutical contract development and manufacturing organization earlier this month.
“We have been following the development of the medical affairs space for a long time as the function evolved from a supportive to a central role and identified OPEN Health as a global leader in the making,” said Judith Charpentier, Astorg partner and head of healthcare, in a statement.
Financial details of the transaction were not disclosed. Open Health CEO Rob Barker and the company’s current management team will remain in place.
“We are excited to build on the momentum across our business and to continue executing with our new partners at Astorg on a shared long-term vision to bring deep scientific solutions that support our clients in driving positive health outcomes,” Barker said in the statement.
Open Health was named to the MM+M Agency 100 in 2021, following a 2020 in which it saw revenue jump by 17%. That year it added around 40 employees, including Barker as CEO.
This story will be updated.
