Carlyle and Brighton Park agree to invest US $200 million in Indegene
BANGALORE, India and PRINCETON, N.J., The Carlyle Group (NASDAQ: CG), Brighton Park Capital and Indegene, the Bangalore-headquartered enterprise healthtech solutions provider, today announced that Carlyle and Brighton Park Capital will acquire minority stakes in the company for US$200 million. The transaction, which is subject to customary regulatory approvals, consists of a secondary sale from existing shareholders of Indegene and a primary investment into the company.
Founded in 1998 by five first-generation entrepreneurs, Indegene has emerged as the leading digital transformation partner to the global life sciences industry. With more than 3,000 employees across North America, Europe, China, Japan and India, Indegene provides technology platforms and commercialization services to pharmaceutical, biotechnology, and medical device companies. Clients partner with Indegene to design, build, and manage digital-first operations that leverage data and automation to accelerate clinical development, improve regulatory compliance, enhance customer experience, and drive commercial success.
Rising competition in the global pharmaceutical market is shifting business models and driving multi-year digital transformation programs. Decisions are increasingly data-driven and leading healthcare enterprises are seeking partners with strong domain knowledge and modern technology skills as a result. Given the wider adoption of digital initiatives within the healthcare industry, Indegene plans to use the primary investment from Carlyle and Brighton Park to accelerate its M&A and global expansion plans.
Manish Gupta, Co-Founder and CEO of Indegene, said: "We are excited about our partnership with Carlyle and Brighton Park as their collective strengths will bring significant value to Indegene as we build on the deep domain knowledge and vertical technology we have developed over the past 20 years. Carlyle's commitment to the healthcare sector with their global network and deep pharmaceutical expertise, coupled with Brighton Park's deep experience in the technology sector and nuanced understanding of our space, makes the two firms the ideal partners to support our company's continued growth."
Neeraj Bharadwaj, Managing Director of the Carlyle Asia advisory team, said: "We have been impressed by the strong entrepreneurial energy of the management team at Indegene and their technology-led, data driven, differentiated global delivery model, as well as by their ability to scale relationships with global healthcare enterprises. We believe this puts Indegene in a strong position to benefit from the significant growth drivers we are seeing in the healthcare space. We look forward to leveraging our global healthcare network and capabilities to help the company further strengthen and expand its portfolio while deepening relationships with its global client base."
Mark Dzialga, Managing Partner of Brighton Park Capital, said: "With a strong technology platform and a digital-first approach, Indegene has established a reputation for high-quality content, analytics, and other healthcare solutions provided through a seamlessly integrated system. We have tremendous respect for Manish and the talented Indegene team, who have built the largest standalone digital transformation and commercialization partner for healthcare enterprises globally. We are excited to partner with the company as we bring to bear our significant technology expertise to help accelerate Indegene's global growth."
Over the last decade, Indegene has made significant organic and inorganic investments in building a technology portfolio that caters exclusively to healthcare. This has enabled the company to grow at more than 25% revenue CAGR over a decade. This growth rate is accelerating with strong industry tailwinds driving a rapid shift towards digital-first operations.
Torreya, Seyfarth Shaw, Deloitte, KPMG and Tatva Legal advised Indegene on this transaction. Moelis & Company, EY, Shardul Amarchand Mangaldas & Company, Latham & Watkins and Bain & Company acted as advisors for Carlyle. Brighton Park Capital was advised by E&Y, Paul Weiss and Bharucha & Partners.
Indegene is a global enterprise health tech solutions organization. It accelerates medical and commercial outcomes, and personalizes experiences by applying deep medical knowledge and verticalized technology across the value chain. 18 of the top 20 global biopharma organizations lean on its domain experts for an agile, customized, enduring partnership. With over 3,000 Indegeons in the US, Europe, China, Japan and India, it has delivered over 100 strategic engagements, managed full commercialization of an approximately $2 billion product portfolio, and created over 1 million medical and commercial content assets. To learn more, please visit www.indegene.com
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across three business segments: Global Private Equity, Global Credit and Investment Solutions. With $230 billion of assets under management as of September 30, 2020, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. Carlyle employs more than 1,800 people in 30 offices across six continents.
Carlyle has been making investments in India since 2000, and has a well-established history of investing in the healthcare sector. The firm's India investments including global pharmaceutical company Piramal Pharma, India's largest pure-play animal healthcare company SeQuent, the leading hospital in the National Capital Region of Delhi Medanta Medicity Hospital, and diagnostic center and laboratory operator Metropolis Healthcare. Globally, Carlyle has invested more than US$13 billion of equity in approximately 80 deals in the healthcare sector as of September 30, 2020.
Further information is available at www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
About Brighton Park Capital
Brighton Park Capital is a Greenwich, Conn.-based investment firm that specializes in software, information services, technology-enabled services, and healthcare. The firm seeks to invest in companies that provide highly innovative solutions, partner with great management teams, and bring purpose-built, value-add capabilities that match the unique requirements of its companies.
For more information about Brighton Park Capital, please visit www.bpc.com.
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Brighton Park Capital
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