Novo Holdings A/S (“Novo Holdings”), a leading global life sciences investor, today announced that it has agreed to acquire Medical Knowledge Group from Court Square Capital and Aisling Capital.
Medical Knowledge Group (“MKG”) is an analytics-driven drug commercialisation platform servicing the biopharmaceutical industry. Through its various operating companies, MKG delivers healthcare provider-targeted solutions designed to maximise the clinical and commercial potential of the brands they support. MKG partners with some of the world’s largest biopharmaceutical companies as well as niche biotechnology firms.
Abhijeet Lele, Senior Partner and Head of Principal Investments U.S. at Novo Holdings, said: “With the remarkable growth trajectory of the biopharmaceutical services industry, largely driven by more complex therapeutics reaching the market and an increased global demand for omnichannel communications targeting healthcare providers, MKG has positioned itself in a very attractive space which fits well with the strategic objectives of the Principal Investment arm at Novo Holdings. I very much look forward to joining the team and becoming part of the continuous growth of MKG.”
Jonathan Levy, Senior Partner, Principal Investments at Novo Holdings, added: “Not only has MKG demonstrated an impressive track record for maintaining their existing client base, but the leadership team has also been very successful at welcoming new clients and partners to the group. We are very pleased to be joining MKG during this exciting time when the market for medical communications is growing at such a rapid pace.”
David Nguyen, Managing Partner at Court Square Capital, said, “Leon and his team have exceeded every strategic, financial and operating target we developed together at the time of our investment. This is an incredible achievement, and it validates our assessment of Leon as one of the most outstanding operators we have ever had the pleasure to work with. Our partnership with Leon and the MKG management team is a proof-point that validates Court Square’s strategy of investing along-side of founders, families and manager-owners. We would like to thank Leon and his team for their hard work and send our best wishes for MKG’s continued business success.”
MKG was founded in 2004 by Chief Executive Officer Leon Behar. Over the past 17 years MKG has grown to more than 500 employees across four offices located in New York, New Jersey, and Georgia. Leon Behar, who will continue in his current role, said: “I am thrilled to partner with the very experienced team at Novo Holdings. Importantly, the core values of MKG are completely aligned with those of Novo Holdings, and I am confident that this partnership will even further accelerate our growth. I would like to thank the Court Square team for being a true partner in enabling us to achieve our strategic objectives, organically and through acquisitions, over the last several years.”
The transaction is subject to customary closing conditions and is expected to close in the first quarter of 2022. Kirkland & Ellis, LLP served as legal advisor and Houlihan Lokey served as financial advisor to Novo Holdings. Willkie Farr & Gallagher LLP served as legal advisor while Harris Williams served as financial advisor to MKG.
About Medical Knowledge Group
Medical Knowledge Group is a New York based, independent analytics-driven and technology-enabled multi-channel marketing solutions provider serving marketing, medical affairs, and stakeholder relations teams at biopharmaceutical companies throughout the entire product lifecycle. Medical Knowledge Group has a diverse roster of clients ranging from niche biotech and diagnostic companies to some of the world’s largest companies in the industry. The Company is an analytics-centric, strategic marketing solutions provider that partners with clients to translate the complex science and data behind their brands into market shaping strategies that maximize their clinical and commercial potential.
About Novo Holdings A/S
Novo Holdings A/S is a private limited liability company wholly owned by the Novo Nordisk Foundation. It is the holding company of the Novo Group, comprising Novo Nordisk A/S and Novozymes A/S, and is responsible for managing the Novo Nordisk Foundation’s assets.
Novo Holdings is recognised as a leading international life science investor, with a focus on creating long-term value. As a life science investor, Novo Holdings provides seed and venture capital to development-stage companies and takes significant ownership positions in growth and well-established companies. Novo Holdings also manages a broad portfolio of diversified financial assets. Further information: www.novoholdings.dk.
About the Novo Nordisk Foundation
The Novo Nordisk Foundation is an independent Danish foundation with corporate interests. It has two objectives: 1) to provide a stable basis for the commercial and research activities of the companies in the Novo Group; and 2) to support scientific, humanitarian and social causes.
The vision of the Foundation is to contribute significantly to research and development that improves the lives of people and the sustainability of society. Since 2010, the Foundation has donated more than DKK 30 billion (USD 4.5 billion), primarily for research at public institutions and hospitals in Denmark and the other Nordic countries. Read more at www.novonordiskfonden.dk/en
About Court Square Capital Partners
Court Square is a middle market private equity firm with one of the most experienced investment teams in the industry. Since 1979, Court Square has completed over 240 platform investments, helping managers, families and founder-owners to develop their companies into leaders in their respective markets. Court Square invests in companies that have compelling growth potential in the business services, industrial, healthcare, and tech and telecom sectors. Court Square has $7.5 billion of assets under management and is based in New York, N.Y. For more information on Court Square, please visit www.courtsquare.com.
About Aisling Capital
Aisling Capital is a leading life sciences investment firm that invests in products, technologies and global businesses that advance human health. Since 2000, Aisling has raised over $2 billion across five funds. The Aisling team’s combination of clinical, operational and financial experience allows the firm to partner with entrepreneurs to identify, execute and realise investments utilising a variety of structures across the life sciences industry. Aisling Capital is a registered investment advisor with the U.S. Securities and Exchange Commission. For more information, please visit www.aislingcapital.com.
Marie-Louise Jersin, Senior Communications Partner, +45 3049 4957, [email protected]