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news.Global investment company Permira has entered into a definitive agreement to make a substantial investment in PharmaCord, a pharma services company.
The substantial investment will enhance services of the company and support the patient journey in the pharma sector. Credit: fernando zhiminaicela from Pixabay.
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The investment is managed by the funds of Permira and is expected to close by the fourth quarter of 2024, subject to necessary approvals and conditions.
The companies did not disclose the financial terms of the deal.
PharmaCord, known for its role as a commercialisation partner for life sciences organisations, focuses on enhancing the patient experience with specialty medications.
Its comprehensive solutions support the patient journey by increasing awareness, facilitating access to treatment, improving affordability, and promoting therapy adherence.
The company’s tech-enabled approach has secured relationships with over 30 pharmaceutical company clients and supports more than 100 pharmaceutical products.
PharmaCord’s founder and CEO Nitin Sahney, along with the company’s management team, will continue to lead the company and will continue to function as significant investors alongside Permira funds.
Centerview Partners served as financial advisor and Willkie Farr & Gallagher as legal counsel to PharmaCord.
Permira received financial advice from Jefferies and Leerink Partners, with Skadden, Arps, Slate, Meagher & Flom providing legal counsel.
Sahney said: “We are very excited to partner with a leading, growth-oriented, technology-focused investment firm like Permira to help us broaden our tech-enabled offerings and support our ambitious expansion efforts.
“We are guided by our commitment to innovation and our strength in developing and deploying effective technology-supported solutions to enable our clients to improve the patient experience. I’m incredibly proud of what our team has accomplished thus far and look forward to bringing even more services to our clients while capturing the exciting growth opportunities ahead with the benefit and support of a global investor like Permira.”
