Results Healthcare   |   Results International

Insights

We add value by understanding our sectors inside out, and release regular industry research and reports

Medaxial has been acquired by Covance.

03 Aug 2015

Medaxial is a specialist value communication business with more than 17 years’ experience serving the global healthcare industry.

Situation

Medaxial is a specialist value communication business with more than 17 years’ experience serving the global healthcare industry. Since its inception in 1996 the Company has developed into one of the largest and most respected independent companies in its field, providing a focused portfolio of market access services to clients in the pharmaceutical and medical devices sectors.

Medaxial delivers a range of market access, pricing, evidence and value message solutions across multiple therapy areas and geographies, and is highly regarded for its scientific excellence, technical know-how and exceptional communication skills, including an industry-leading programming and design team.

Based in London, with an office in New York, Medaxial’s clients include virtually all the world’s top pharmaceutical companies. The Company has experience in over 50 therapy areas, across all major global markets and works on 7 of the world’s top 10-selling pharmaceutical products. Medaxial was awarded the Queen’s Award for Enterprise in 2012.

Opportunity

The founders of Medaxial, having led the Company to its industry-leading position and transitioned responsibility for running the business to the senior management team, saw an opportunity to take Medaxial to the next stage in its development as part of a larger organisation. Significant opportunities exist to develop Medaxial’s business by expanding the Company’s service offering and geographic reach. The Company’s founders were keen to exploit these opportunities whilst securing the best outcome for Medaxial’s expert staff.

Results Healthcare worked with Medaxial for over three years. Prior to launching a formal process, Results helped the founders formulate and evaluate the Company’s strategic options and to prepare the business for sale.

Outcome

Results Healthcare organised a competitive process to identify the best partner for Medaxial. The strength of the Company’s offering and its positioning in the attractive pharmaceutical outsourced services sector generated a high level of interest, both from private equity and strategic partners and both across Europe and in the US. Covance was chosen as the best fit for Medaxial and its employees.

Based in the US, Covance (NYSE: CVD)  is one of the world’s largest and most comprehensive drug development services companies with more than 12,500 employees located in over 60 countries, generating revenues of over $2.4 billion in 2013. Covance is a leading drug development services company, providing a wide range of early and late-stage development services and the full range of market access services to the pharmaceutical, biotech and medical device industries. Covance also provides nutritional chemistry and food safety testing to companies across the world.

John Fanshawe & Paul McLoughlin, founders of Medaxial commented:

“We have worked with Results for over three years and they have advised us every step of the way. They really know the healthcare sector and they took the time to get to know us and our business.

We have received consistently excellent advice along every stage of our journey. Results were hands-on in helping us prepare our business for sale. They have unparalleled access to the buyer universe and understand how best to position our business and communicate with potential buyers. Finally, they are strong negotiators and were instrumental in securing the best outcome for our company.

We have been very impressed with the expertise and enthusiasm of the entire team. They have been great to work with and we would strongly recommend them.”

If you would like any further information on this transaction, or about our people, please don’t hesitate to contact Anthony Harrington (0207 514 8256), who helped lead the transaction.

To view the official press release please click here.

Insights

Weekly Public Healthcare Sector Analysis, News, Blogs & White Papers

View our insights

Connect with us

Follow Results Healthcare on Twitter Follow Results Healthcare on LinkedIn

Your Nearest Office