Results Healthcare Advises Hive on Acquisition by St Ives Plc for up to £50 Million

Results Healthcare, part of the Results International Group, today announced that it has advised the Health Hive Group Limited on its acquisition by St Ives PLC, in a transaction valued at up to £50 million.

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“This represents a hugely impressive result for a business that started from scratch 6 years ago” commented Anthony Harrington, part of the deal team at Results Healthcare.

London, UK (PRWEB) May 07, 2014

Results Healthcare, part of the Results International Group, today announced that it has advised the Health Hive Group Limited on its acquisition by St Ives PLC, in a transaction valued at up to £50 million.

St Ives will pay up to £20.9 million for Hive in initial consideration, satisfied by approximately £16.8 million in cash and the balance in St Ives shares. Further consideration of up to £29.1 million may be payable (also to be satisfied 80% in cash and 20% in shares) dependent on incremental financial performance for the years ending 31 December 2014, 2015 and 2016. Hive generated unaudited adjusted EBITDA of £2.9 million for the financial year ended 31 December 2013 on revenue of £9.1 million.

Since being founded in 2008, Hive has developed into a leading healthcare strategic consulting and communications business. Hive consists of three divisions which operate under one philosophy, to improve patient outcomes by identifying, understanding and creating change in healthcare communications:

  •     Hive, a specialist communications business which puts patients at the heart of building medical brand strategy
  •     eBee, a digital business profiling user behaviours to create effective digital solutions
  •     Pollen, a scientific communications business which translates complex scientific data into accessible stories that change behaviour

In 2013 Hive worked with over 60 brands and delivered over 600 individual projects for clients across the globe and in therapy areas including respiratory, immunology, oncology, diabetes, virology, vaccines and orphan drugs. Hive is based in London and employs over 70 people, with clients including 6 of the world’s top 10 pharmaceutical companies. The Group has won or been shortlisted for 42 prestigious industry awards in its 6 years of trading.

Unusually for a business in its sector, Hive has also successfully ‘productised’ some of its services, creating a strong Intellectual Property base and a scalable growth proposition.

Hive’s founders have ambitious growth plans and this transaction will enable them to expand the Group’s service offering and geographic presence while retaining the innovative culture that has contributed to its success to date. St Ives, the UK’s leading provider of marketing solutions and publishing services, has invested heavily in its marketing services division and has a track record of supporting innovative and fast-growing businesses. Hive will operate as a subsidiary of St Ives, continuing to be managed from its current headquarters by the existing management team, including founding directors Ian Busby, Jas Hummel and Tim Scorer.

“This represents a hugely impressive result for a business that started from scratch 6 years ago” commented Anthony Harrington, part of the deal team at Results Healthcare. “Hive has a powerful, patient-focused approach that has rapidly gained traction with major biopharmaceutical clients, a compelling product offering which offers huge potential for growth and a strong management team who have delivered impressive financial performance. Results Healthcare specialises in working with entrepreneurial businesses, helping them to achieve their strategic goals and we are very proud to have worked with an exceptional client like Hive.”

Hive Founder Ian Busby commented:
“When we started this process we knew we wanted to find an organisation that would help us do things differently and to do that we needed to find advisers that took the time to understand that. The Results team did a great job in working with us to define the best way forward.

“We spend a great deal of effort focusing on partnering with our clients and it was great to find a like minded team in Results. They have been a pleasure to work with and I look forward and fully expect to work with them again in the future.

“As for the outcome we are delighted to be a part of St Ives. It’s a testament to the talent of our whole team and the uniqueness of our business. St Ives has a track record of supporting differentiated, rapid growing and entrepreneurial companies. We have ambitious plans to further develop our business and look forward to realising these plans as part of St Ives.”

To arrange an interview with Anthony Harrington, please contact Richard Kerns, NEPR, richard(at)nepr(dot)eu.

About Results Healthcare
Part of the Results International Group, established in 1991, Results Healthcare is a dedicated team of sector focused corporate finance and business strategy advisers. Based in London and New York, with access to Results International’s global network of offices, Results Healthcare provides a full spectrum of corporate finance services, including sell side and buy side transactions, public to private transactions, venture capital and private equity fund raising, MBOs, R&D site evaluations and divestments, company and product valuations, and licensing transactions.

Results Healthcare's high caliber, global team has been carefully assembled to offer clients a blend of expert sector intelligence, deep industry relationships and strong technical and commercial experience. Results Healthcare has a proven track record of transactional success and deal completion, having completed over 75 healthcare transactions to date.

For more information visit http://www.resultshealthcare.com


Contact

  • Richard Kerns
    NEPR
    +44 7974579202
    Email