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UK private equity firm Permira has announced an agreement to purchase Ergomed for £703m ($888.1m). Ergomed specialises in clinical trial development and management, with clients in over 100 countries, and will add to Permira’s already impressive portfolio of medical companies including Neurapharm and Cambrex.

The cash offer is £13.50 a share, which represents an approximately 28% premium on the company’s previous closing price, though the news has now brought the share price up to £13.36. The news comes after Ergomed acquired regulatory consultant ADAMAS Group last year for $34.56m, its largest investment to date and one that it hoped would broaden its client offering as well as ensure the company remained “at the forefront of specialist service provision.” The company has had a history of growth through acquisition since its floating on the London Stock Exchange (LSE) in 2014.

Ergomed has a particular focus on oncology, claiming to have performed over 450 studies in the field in areas from breast cancer to lymphoma. It also operates a subsidiary called PrimeVigilance that offers post-market surveillance to clients.

A number of public British companies have gone private this year after buyouts, including veterinary pharmaceutical company Dechra, which was bought by private equity firm EQT for £4.5bn.

The Financial Times has reported that the LSE is considering responses to the spate of buyouts, including measures that would allow shareholders in private companies to sell their shares before the company goes public.

Our signals coverage is powered by GlobalData’s Thematic Engine, which tags millions of data items across six alternative datasets — patents, jobs, deals, company filings, social media mentions and news — to themes, sectors and companies. These signals enhance our predictive capabilities, helping us to identify the most disruptive threats across each of the sectors we cover and the companies best placed to succeed. 

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By GlobalData