Permira has agreed to acquire Ergomed, a British biopharmaceutical services company, for approximately £703.1 million in cash.
The acquisition will take Ergomed into private ownership, with Permira owning all of its shares.
The cash offer of 1,350p per share represents a 28% premium to Ergomed’s last closing price. Ergomed’s board has deemed the offer to be “fair and reasonable,” and has recommended that eligible shareholders vote in favor of the acquisition.
The deal is expected to close in Q4 2023, subject to shareholder approval.
Ergomed has a track record of providing clinical research and trial management services to global businesses in over 100 countries.
The Surrey-based (UK) company has approximately 1,800 employees and 24 offices worldwide.
Permira’s investment is expected to provide Ergomed with the capital necessary for expansion and acquisitions, as well as the commercial infrastructure to continue its growth in the healthcare sector.
Permira advisers have highlighted Ergomed’s expertise in pharmacovigilance and contract research organization as key strengths that will complement Permira’s existing healthcare portfolio.
