"This is an exciting next step for us. Nordic Capital has extensive experience in both healthcare and technology investments, and a successful track record in supporting management teams and growing businesses," said Jim Corrigan, president and CEO, ERT.
Philadelphia, PA –
March 8, 2016 (PRWEB) March 08, 2016 -- ERT, a leading provider of high-quality patient data collection solutions for use in clinical drug development, today announced that Nordic Capital, a leader in private healthcare investments, has reached an agreement to acquire controlling interest from Genstar Capital. As its new owner, Nordic Capital will enable ERT to fuel growth and accelerate its innovation plans.
Jim Corrigan, president and chief executive of ERT said, “This is an exciting next step for us. Nordic Capital has extensive experience in both healthcare and technology investments, and a successful track record in supporting management teams and growing businesses.
“Together we will extend our leadership in eClinical solutions, and innovate better health through investments across our portfolio of capabilities to meet our customers’ evolving needs. We will further invest in attracting and retaining the industry’s best people, partnering for success in the dynamic regulatory environment, and enabling our customers to deliver safe and effective trials.”
Jonas Agnblad, partner, NC Advisory, advisor to the Nordic Capital Funds said, "Nordic Capital sees ERT as a very attractive investment opportunity in the eClinical market. It has deep insights into the clinical development process, an attractive technical platform and an outstanding competitive position.
“ERT is highly valued by the pharmaceutical industry as a business partner, as evidenced by its market leadership in eCOA, Cardiac Safety and Respiratory Solutions. ERT has an excellent performance track record and is well positioned for accelerated growth. Nordic Capital’s ambition is to support ERT’s executive management team to further develop the company by growing in both existing and adjacent market segments.”
The parties have agreed not to disclose the terms of the transaction.
ERT is a leading provider of high-quality patient data collection solutions for use in clinical drug development. ERT delivers a combination of technology, services and clinical consulting that increase the accuracy and reliability of patient data and improve the widely deployed solutions in centralized Cardiac Safety, Respiratory, and electronic Clinical Outcome Assessments (eCOA) – which includes patient-, clinician-, observer- and performance-reported outcomes – and cloud-based analytics and performance metrics. By efficiently integrating these solutions through a system built upon a scientific and regulatory foundation, ERT collects, analyzes and delivers safety and efficacy data critical to the approval, labeling and reimbursement of pharmaceutical products. For more information see http://www.ert.com.
About Nordic Capital
Nordic Capital private equity funds have invested in mid-market companies primarily in the Nordic region since 1989. Through committed ownership and by targeting strategic development and operational improvements, Nordic Capital enables value creation in its investments. Nordic Capital Funds invest in companies in northern Europe and in selected investment opportunities internationally. The most recent fund is Nordic Capital Fund VIII with EUR 3.5 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Funds are based in Jersey, Channel Islands, and are advised by the NC Advisory companies in Sweden, Denmark, Finland, Norway, Germany and the UK. For further information see http://www.nordiccapital.com.
About Genstar Capital
Genstar Capital (http://www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $5 billion and targets investments focused on selected sectors within the healthcare, software, financial services, and industrial technology industries. For more information see http://www.gencap.com.
ERT: David Coman, Chief Strategy and Marketing Officer, David.Coman(at)ERT.com, (919) 749-6124
Nordic Capital: Katarina Janerud, Communications Manager, NC Advisory AB, advisor to the Nordic Capital Funds, +46 8 440 50 50
Genstar: Chris Tofalli, Chris Tofalli Public Relations, LLC, (914) 834-4334