Bioscript announces two acquisitions since being backed by Sovereign in March
Sovereign Capital Partners, the UK private equity Buy & Build specialist, is delighted to announce that portfolio company Bioscript, a successful global provider of medical communications and regulatory writing services for pharmaceutical companies, has acquired both Fortis Pharma Consulting (‘Fortis’), a specialist medical affairs services provider, and Valid Insight, a specialist market access consultancy. Sovereign backed the Bioscript management team earlier this year to further develop and grow the business.
Established in 2005, Fortis is a highly successful business that works with clients in refining and articulating a product’s value at launch, with specialist skills in medical education, expert engagement and strategic consultancy. The business supports access teams from smaller healthcare organisations through to leading multi-nationals.
Founded in 2016, Valid Insight is an award-winning consultancy working with clients to deliver pricing, reimbursement, market access and payer value communication strategies through the full product development cycle, supporting optimal patient access to new and innovative health technologies.
Fortis and Valid Insight are two fantastic businesses which are a great fit for Bioscript, and bring a wealth of expertise which perfectly complements our own rich scientific heritage. The acquisitions will enable us to build upon Bioscript’s extensive, integrated services at a time when increasing trial complexity, greater evidence requirements from regulators and payers, as well as pricing pressures, require a fully joined-up cross-functional approach.
Andrew Medley / Founder & CEO / Bioscript
The addition of these specialist global providers strengthens Bioscript’s end-to-end service offering by extending the breadth and depth of its services across the pharmaceutical product lifecycle, and by bringing additional capabilities in medical affairs, global market access strategy and payer value communications. The combined group has a staff of 135, which includes a large team of highly skilled specialist technical consultants and brings additional top 20 global pharma company clients.
Trevor Stokes, Investment Director, Sovereign Capital Partners commented: ‘We are delighted to support these first acquisitions for Bioscript. Both Fortis and Valid Insight are high-quality businesses that both strengthen the firm’s existing capabilities and bring opportunities to diversify, further strengthening the client offering. We look forward to continuing to partner the management team to develop the newly established group both organically and through strategic acquisition.’
Graeme Smith, Managing Director, Fortis added, ‘Our business has experienced rapid growth and we are pleased to have found a like-minded, well-invested partner with whom we believe we will continue to flourish and develop our high-quality service for clients. Cultural fit was a really important factor for us and Bioscript is well known for its respect, support and care for its teams. We are very excited about the future.’
James Wright, Senior Director, Valid Insight said ‘We have proudly grown Valid Insight into a strategic leader in global market access consulting. The culture, client focus and values at Bioscript are wholly aligned with Valid Insight, so I am confident this will bring growth and new opportunities for our employees and our clients. We very much look forward to working with the Bioscript management and Sovereign teams to contribute to long-term growth.’