ErgoMed Acquires Medical Information Service Provider
Sound Opinion, one of UK’s leading Medical Information service providers, to be integrated with PrimeVigilance
Acquisition expands post-marketing services
London, UK – 26 May 2015: Ergomed plc, (LSE: ERGO or ‘Ergomed’) a profitable UK-based company, dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs announces that it has made the strategic acquisition of Sound Opinion, one of the UK’s leading Medical Information (MI) service providers. Sound Opinion will be combined with Ergomed’s existing fast growing post-marketing business - PrimeVigilance. The acquisition, which is expected to be accretive in the first year, will be paid for from existing cash reserves with an earn-out based on future performance.
In line with Ergomed's preferred acquisition targets, Sound Opinion is a strong brand and has been trading profitably for over 18 years, providing high quality outsourced MI services to pharma and generic companies selling medicines in the UK and Ireland. Sound Opinion had a turnover of £340k for the year ending 31 March 2015.
This acquisition is the next step in Ergomed’s strategy of strengthening the group’s presence in the fast growing pharmaceutical post-marketing services sector that was started with the acquisition of PrimeVigilance at the IPO in July 2014. Ergomed believes that there are good opportunities for rapid expansion in this under-served market.
Sound Opinion will be immediately combined with the existing MI business of PrimeVigilance that has an established UK and international footprint including native speakers in a number of European and other languages. The medium term strategy is to build out the combined strength in UK MI services into the main European markets whilst continuing to expand in the UK.
The current operational staff and management of Sound Opinion will all stay involved with the business after completion.
Commenting on the acquisition, Miroslav Reljanovic, Chief Executive Officer of Ergomed, said: “The acquisition of Sound Opinion is in line with Ergomed’s strategy to expand our post-marketing services capacity, a sector we think is critical to the future approval of new medicines and treatments. Medical Information is a very good fit with our leading presence in pharmacovigilance and drug safety through the PrimeVigilance brand, and we are extremely pleased to acquire Sound Opinion with its strong legacy and existing client business. I would like to welcome the Sound Opinion clients and staff to Ergomed and look forward to working with them.”
ENDS
For further information, please contact:
Hume Brophy
Mary Clark, Supriya Mathur and Hollie Vile
Tel: + 44 203 440 5654
ergomed@humebrophy.com
Stifel Nicolaus Europe Limited
NOMAD/Broker to the Company
Jonathan Senior, Giles Balleny
Tel: + 44 207 710 7600
About Ergomed
Ergomed Plc is a profitable UK-based company, providing specialised services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 40 countries.
Ergomed provides clinical development, trial management and pharmacovigilance services to over 60 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed successfully manages clinical development from Phase I through to late phase programmes.
Ergomed has a wide therapeutic focus, with a particular expertise in oncology, neurology and immunology and the development of orphan drugs. Ergomed believes its approach to clinical trials is differentiated from that of other providers by its innovative Study Site Management model and the use of Study Physician Teams, resulting in a close relationship between Ergomed and the physicians involved in clinical trials.
As well as providing high quality clinical development services, Ergomed is building a portfolio of co-development partnerships with pharma and biotech companies which share the risks and rewards of drug development. Ergomed leverages its expertise and services in return for carried interest in the drugs under development. For further information, visit: http://ergomedplc.com
About PrimeVigilance
The pharmacovigilance services offered by PrimeVigilance support essential regulatory and scientific elements required to obtain and maintain a product license within Europe. This includes Qualified Persons, a compliant PV System with robust Quality Management, consistent Adverse Event data capture, expedited reporting, literature screening, preparation of Periodic Safety Update Reports, signal detection and evaluation, benefit-risk assessment, Risk Management Planning, compliance auditing, support during crisis and ad hoc consulting assignments. PrimeVigilance also offers a multi-language Medical Information service. PrimeVigilance has grown organically since 2008 and now has approximately 140 staff employed in its main offices in Guildford UK, and Zagreb, Croatia, as well as an international network of consultants. PrimeVigilance is currently providing services across more than 100 countries. For more information please visit www.primevigilance.com
PrimeVigilance also offers all Medical Information clients high quality full service pharmacovigilance solutions and consultancy as required and can offer larger clients integrated IT solutions for both MI and PV services using the ARISg 7 PV system and the agInquirer MI data base.
About Sound Opinion
Sound Opinion is a profitable business and has been trading for over 18 years, providing outsourced Medical Information services to pharma companies selling medicines in the UK and Ireland Sound Opinion provides expert, real time responses to product related queries via a virtual call centre/data base solution to over 15 clients.
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Acquisition expands post-marketing services
London, UK – 26 May 2015: Ergomed plc, (LSE: ERGO or ‘Ergomed’) a profitable UK-based company, dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs announces that it has made the strategic acquisition of Sound Opinion, one of the UK’s leading Medical Information (MI) service providers. Sound Opinion will be combined with Ergomed’s existing fast growing post-marketing business - PrimeVigilance. The acquisition, which is expected to be accretive in the first year, will be paid for from existing cash reserves with an earn-out based on future performance.
In line with Ergomed's preferred acquisition targets, Sound Opinion is a strong brand and has been trading profitably for over 18 years, providing high quality outsourced MI services to pharma and generic companies selling medicines in the UK and Ireland. Sound Opinion had a turnover of £340k for the year ending 31 March 2015.
This acquisition is the next step in Ergomed’s strategy of strengthening the group’s presence in the fast growing pharmaceutical post-marketing services sector that was started with the acquisition of PrimeVigilance at the IPO in July 2014. Ergomed believes that there are good opportunities for rapid expansion in this under-served market.
Sound Opinion will be immediately combined with the existing MI business of PrimeVigilance that has an established UK and international footprint including native speakers in a number of European and other languages. The medium term strategy is to build out the combined strength in UK MI services into the main European markets whilst continuing to expand in the UK.
The current operational staff and management of Sound Opinion will all stay involved with the business after completion.
Commenting on the acquisition, Miroslav Reljanovic, Chief Executive Officer of Ergomed, said: “The acquisition of Sound Opinion is in line with Ergomed’s strategy to expand our post-marketing services capacity, a sector we think is critical to the future approval of new medicines and treatments. Medical Information is a very good fit with our leading presence in pharmacovigilance and drug safety through the PrimeVigilance brand, and we are extremely pleased to acquire Sound Opinion with its strong legacy and existing client business. I would like to welcome the Sound Opinion clients and staff to Ergomed and look forward to working with them.”
ENDS
For further information, please contact:
Hume Brophy
Mary Clark, Supriya Mathur and Hollie Vile
Tel: + 44 203 440 5654
ergomed@humebrophy.com
Stifel Nicolaus Europe Limited
NOMAD/Broker to the Company
Jonathan Senior, Giles Balleny
Tel: + 44 207 710 7600
About Ergomed
Ergomed Plc is a profitable UK-based company, providing specialised services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 40 countries.
Ergomed provides clinical development, trial management and pharmacovigilance services to over 60 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed successfully manages clinical development from Phase I through to late phase programmes.
Ergomed has a wide therapeutic focus, with a particular expertise in oncology, neurology and immunology and the development of orphan drugs. Ergomed believes its approach to clinical trials is differentiated from that of other providers by its innovative Study Site Management model and the use of Study Physician Teams, resulting in a close relationship between Ergomed and the physicians involved in clinical trials.
As well as providing high quality clinical development services, Ergomed is building a portfolio of co-development partnerships with pharma and biotech companies which share the risks and rewards of drug development. Ergomed leverages its expertise and services in return for carried interest in the drugs under development. For further information, visit: http://ergomedplc.com
About PrimeVigilance
The pharmacovigilance services offered by PrimeVigilance support essential regulatory and scientific elements required to obtain and maintain a product license within Europe. This includes Qualified Persons, a compliant PV System with robust Quality Management, consistent Adverse Event data capture, expedited reporting, literature screening, preparation of Periodic Safety Update Reports, signal detection and evaluation, benefit-risk assessment, Risk Management Planning, compliance auditing, support during crisis and ad hoc consulting assignments. PrimeVigilance also offers a multi-language Medical Information service. PrimeVigilance has grown organically since 2008 and now has approximately 140 staff employed in its main offices in Guildford UK, and Zagreb, Croatia, as well as an international network of consultants. PrimeVigilance is currently providing services across more than 100 countries. For more information please visit www.primevigilance.com
PrimeVigilance also offers all Medical Information clients high quality full service pharmacovigilance solutions and consultancy as required and can offer larger clients integrated IT solutions for both MI and PV services using the ARISg 7 PV system and the agInquirer MI data base.
About Sound Opinion
Sound Opinion is a profitable business and has been trading for over 18 years, providing outsourced Medical Information services to pharma companies selling medicines in the UK and Ireland Sound Opinion provides expert, real time responses to product related queries via a virtual call centre/data base solution to over 15 clients.
Help employers find you! Check out all the jobs and post your resume.