Symphony Technology Group acquires a division of United BioSource Corp.
Addition of UBC's HEOR/Market Access Division ushers in a new portfolio company called Evidera, in a move intended to expand STG’s presence in healthcare research and services
PALO ALTO, Calif.—Symphony Technology Group (STG),a technology and services-focused private equity firm, recently announced that ithad acquired the health economics, health outcomes, market access andretrospective epidemiology and data analytics divisions of United BioSourceCorp. (UBC), a wholly owned subsidiary of Express Scripts HoldingCo.
Terms of the deal were notdisclosed, but STG has revealed that its newly acquired asset will be used to create Evidera, an independent portfolio company under the STG umbrella, with a goal of adding to STG's reach in the health information andresearch services space.
STG also ownsSymphony Health Solutions, a Horsham, Pa.-based provider of high value data,analytics and technology solutions for life science manufacturers, payers andproviders. Evidera, STG sayus, "adds complementaryand highly specialized research capabilities focused on optimizing marketaccess and product value to the existing portfolio of patient-centeredinsights."
SOURCE: STG news release
"We believe in a rapidly evolving ecosystemwhere evidence-based and analytically empowered decision making will shapeevery corner of the industry. Acquiringthese businesses will extend Symphony's offerings and further our strategiceffort to help our clients shape and participate in this excitingtransformation. We are developing solutions to enable our clients'understanding of the complex multi-dimensionality of their commercialmodels. These new capabilities willhelp us leverage and expand our data, analysis, and research capabilities byaddressing, head on, the strategic and empirical challenges of delivering highquality, cost-effective healthcare interventions," said Dr. Romesh Wadhwani, chairman and CEO ofSymphony Technology Group. "We believe the businesses we are acquiring, aswell as the experts that lead our teams in these capabilities, are the best inthe industry at understanding evidence and creating value for life sciencescompanies. We are investing in them as afundamental building block for us to expand these capabilities throughinnovation to a broader set of customers, both within life sciences and also tothe broader health ecosystem."
Evidera partners with life sciences organizationsworldwide to optimize the market access and commercial success of theirproducts. Their scientists, researchersand consultants leverage deep knowledge of the global payer and regulatorylandscape and offer expertise in developing, capturing and communicating theevidence required to demonstrate the value of treatment interventions.
"Symphony Technology Group is the ideal matchfor our business," said Jon Williams, president of Evidera. "Symphony brings fresh ideas, gamechanging innovation, operational excellence and a wealth of experience acrossmultiple industries, which will allow us to serve our clients better than everbefore. We share a commitment to leadthe industry through science, insight, and innovation."
SOURCE: STG news release