New Delhi, Oct. 1 -- Life sciences and healthcare services company Indegene Ltd, which counts private equity firm Brighton Park Capital and two Indian family offices as investors, has inked a deal to acquire a US marketing services company.
Mumbai-listed Indegene said in a stock exchange filing on Wednesday that it has agreed to acquire Pennsylvania-based BioPharm Parent Holding Inc for about $106 million in cash from Omnicom Health Group.
The takeover will strengthen Indegene's commercialization portfolio with ad-tech, which combines AI and digital advertising for pharma companies, thereby bolstering its position in the omnichannel and media space, it said.
"BioPharm has built an impressive growth flywheel, with advanced tech capabilities, deep therapeutic expertise, and long-standing client relationships," said Manish Gupta, Chairman and CEO of Indegene.
The acquisition comes at a time when many pharma companies find it difficult to manage mature product portfolios and ramp up capabilities for new launches, given healthcare professionals favor limited engagement. Indegene said with the acquisition it can provide commercialization models which combine rich data assets that will drive "significantly higher media ROI (return on investment) and enable more effective agentic operations."
"Their [Indegene's] life sciences-contextualized approach to AI will open up new possibilities, helping us deliver deeper value to clients," said Steve Carickhoff, President, BioPharm.
BioPharm was founded in 2005. The marketing agency provides omnichannel strategy, end-to-end media journey which spans across strategy, planning and operations, and data-driven campaign execution. Its clients include 17 of the 25 major global biopharma companies.
For the financial year ended December 2024, the company recorded a revenue growth of 6% to $38.13 million, as against a 12% decline to $35.97 million in 2023.
Indegene has acquired a few other overseas companies previously to ramp up its service offerings. Last year, it purchased medical writing consultancy firm Trilogy Writing & Consulting GmbH. In 2022, it bought US-based CultHealth. The year before, it purchased US-based Medical Marketing Economics LLC.
Bengaluru-based Indegene was founded in 1998 by first-generation entrepreneurs Manish Gupta, Sanjay Parikh, Rajesh Nair, Gaurav Kapoor and Anand Kiran. The company went public last year through an IPO that included an offer for sale by PE firms Carlyle and Brighton Park Capital and Infosys co-founder Nadathur S Raghavan's family office.
Carlyle and Brighton Park had acquired a minority stake in the company for $200 million in 2021. Carlyle fully exited the company earlier this year. Its current investors include Brighton Park, the Nadathur Family Office and PremjiInvest, the family office of Wipro's Azim Premji which acquired a stake earlier this year.
Published by HT Digital Content Services with permission from VC Circle.