CLINIGEN GROUP PLC Clinigen, the global, specialist pharmaceutical services and products platform, is pleased to announce it has been acquired by a newly-formed company indirectly owned by the Triton Funds, Triley Bidco Limited.
On 17 January 2022, Clinigen and Bidco jointly announced that they had agreed the terms of a recommended all-cash offer for Clinigen by Bidco, pursuant to which Bidco has acquired the entire issued and to be issued ordinary share capital of Clinigen at a price of 925 pence in cash per share. On 31 March 2022, Clinigen announced that the Court had sanctioned the Scheme of Arrangement, which was approved by shareholders on 8 February 2022.
Triton was attracted to the differentiation Clinigen has created through a combination of services across the pharmaceutical product lifecycle, from phase II clinical trials to commercialization of both licensed and unlicensed medicines. Triton intends to support Clinigen in accelerating its growth through extending its geographical reach, competing more effectively for inorganic growth opportunities, and strengthening its differentiated services and digital platform to better serve its clients, healthcare professionals and patients.
Triton has been investing in healthcare businesses since 2002 and it is one of the firm's core sectors. Triton has a strong track record of transforming healthcare businesses across Europe, partnering with management to drive operational change and supporting companies fulfil their potential. Today, Triton has a broad portfolio of healthcare businesses, with specialist expertise in the pharma and pharma services sectors; select investments include UK-headquartered specialty pharmaceutical business Pharmanovia and leading pharma primary packaging manufacturer Bormioli Pharma.
Shaun Chilton, Chief Executive Officer, Clinigen, said:
"In Triton, we have found an excellent partner to support Clinigen on the next stage of its growth journey. The firm's established track record of partnering with management teams to deliver transformational growth within healthcare companies will be of great benefit to Clinigen and its customers, and we look forward to working together to realise our full potential under Triton's ownership."
Jan Pomoell, Co-Head Healthcare, Triton, said:
"We are delighted to complete the acquisition of Clinigen, a leading provider of services to pharma and biotech companies, and pharmaceuticals to healthcare professionals and patients. Triton's deep expertise in healthcare will enable Clinigen to achieve its full potential as a private company, growing its offering in the global pharmaceutical ecosystem."
Contact detailsClinigen Group plc
Shaun Chilton, Group Chief Executive Officer
Rob Fox, VP Investor Relations and Corporate Development
+44 (0) 1283 495010
investors@clinigengroup.com
Consilium Strategic Communications
Mary-Jane Elliott / Matthew Cole / Jessica Hodgson
Tel: +44 (0) 20 3709 5700
Clinigen@consilium-comms.com
About Clinigen
Clinigen is a global, specialist pharmaceutical services and products company focused on providing ethical access to medicines. Its' mission is to deliver the right medicine to the right patient at the right time.
Clinigen operates from sites in North America, Europe, Africa and the Asia Pacific and has more than 1,000 employees across five continents in 14 countries, with supply and distribution hubs and operational centres of excellence in key long-term growth regions. Clinigen currently works with more than 30 of the top 50 pharmaceutical companies and supplies medicines into more than 120 countries.
For more information on Clinigen, please visit http://www.clinigen.com
About Triton
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial tech, services, consumer and healthcare sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvement and growth.
The 49 companies currently in Triton's portfolio have combined sales of around EUR 18 billion and employ around 104,000 employees. For more information: www.triton-partners.com
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Clinigen Group plc published this content on 05 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2022 09:37:07 UTC.
