Macclesfield-based Bioscript, a provider of medical communications and regulatory writing services for pharmaceutical companies, has acquired Fortis Pharma Consulting, a medical affairs services provider, and Valid Insight, a market access consultancy. Both firms are based in London.
Private equity buy and build firm Sovereign Capital Partners backed Bioscript in March to develop and grow the business.
Established in 2005, Fortis works with clients to communicate their product’s value at launch, with specialist skills in medical education, expert engagement and strategic consultancy. The business supports access teams from smaller healthcare organisations through to multinationals.
Founded in 2016, Valid Insight is a consultancy working with clients to deliver pricing, reimbursement, market access and payer value communication strategies through the full product development cycle, supporting new and innovative health technologies.
The combined group has a staff of 135, which includes a large team of specialist technical consultants and the acquisitions have added new global pharma company clients.
Trevor Stokes, investment director at Sovereign Capital Partners said: “We are delighted to support these first acquisitions for Bioscript. Both Fortis and Valid Insight are high-quality businesses that both strengthen the firm’s existing capabilities and bring opportunities to diversify, further strengthening the client offering. We look forward to continuing to partner the management team to develop the newly established group both organically and through strategic acquisition.”
Andrew Medley, founder and chief executive of Bioscript, added: “Fortis and Valid Insight are two fantastic businesses which are a great fit for Bioscript, and bring a wealth of expertise which perfectly complements our own rich scientific heritage. The acquisitions will enable us to build upon Bioscript’s extensive, integrated services at a time when increasing trial complexity, greater evidence requirements from regulators and payers, as well as pricing pressures, require a fully joined-up cross-functional approach.”
Fortis’s managing director Graeme Smith commented: “Our business has experienced rapid growth and we are pleased to have found a like-minded, well-invested partner with whom we believe we will continue to flourish and develop our high-quality service for clients. Cultural fit was a really important factor for us and Bioscript is well known for its respect, support and care for its teams. We are very excited about the future.’
James Wright, senior director at Valid Insight said: “We have proudly grown Valid Insight into a strategic leader in global market access consulting. The culture, client focus and values at Bioscript are wholly aligned with Valid Insight, so I am confident this will bring growth and new opportunities for our employees and our clients. We very much look forward to working with the Bioscript management and Sovereign teams to contribute to long-term growth.”
Date published: August 11, 2021