Greenwich private-equity firm acquires British health business
Greenwich private-equity group Amulet Capital Partners announced this week the acquisition of health communications and data firm Open Health, with plans to merge the British company with a similar business that it already owns.
Financial terms of the deal were not disclosed.
The new organizing, comprising Open Health and medical-communications firm Peloton Advantage, will operate with approximately 520 employees. Open Health CEO David Rowley will continue in the role, supported by an executive team including Open Health co-founder Sandy Royden and Peloton co-founders Carolyn Clark and Michael McLaughlin.
“This is a transformational merger creating attractive pathways for growth for both Peloton and Open Health,” Ramsey Frank, Amulet partner and co-founder, said in a statement. “We look forward to supporting the combined team’s efforts to offer personalized solutions to biopharmaceutical clients across a range of medical affairs, commercial, health-economics outcomes research, real-world evidence and market access functions.”
Parsippany, N.J.-based Peloton focuses on publication planning and related content development for medical-education programs.
“We have known David for many years and are delighted to merge with the Open Health team,” Clark said in a statement. “This merger significantly expands our client footprint and financial profile globally, adding meaningful scale and profitability to our company.”
Founded in 2011, Marlow, England-based Open Health focuses on oncology, rare diseases and specialist medicines.
“The merger of Peloton and Open Health provides very strong strategic, geographic, therapeutic and management synergies,” Rowley said in a statement. “Both teams believe that as a combined entity we can provide a wider range of services to our current clients, as well as allowing for geographic expansion of core competencies on both sides of the Atlantic and beyond.”
Amulet focuses solely on health care. Its investments generally range from $25 million to $150 million.
The firm is based in downtown Greenwich, at 55 Railroad Ave., with a team that has approximately 50 years of private equity experience.
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