About the deal
MeDiNova is a fast-growing network of 33 active clinical research sites in key markets in Europe and Africa. Founded in 2000, the company has experience operating a number of different site models, including dedicated research sites, integrated research sites and working with third party affiliate sites. MeDiNova Research sites have a proprietary database of 400,000 patients and interested potential study participants and have access to over 5 million patients via electronic medical records through strong healthcare partnerships.
NASDAQ listed ICON plc is a global provider of drug and device development and commercialisation services to pharmaceutical, biotechnology, medical device industries. The acquisition of MeDiNova further enhances Dublin-based ICON’s patient recruitment capabilities in EMEA and compliments ICON’s existing site network in the US, PMG Research.
Kumar Muthalagappan OBE, Chief Executive Officer of MeDiNova Research said “ICON provides MeDiNova with a great opportunity for continued growth through scaling our knowledge, infrastructures and healthcare relationships. The MeDiNova-ICON combination will further enhance our highly productive models to deliver the ‘best in class sites performance’ for the industry.”
Partner Simon Ward and Manager Matthew Guest advised the shareholders of MeDiNova on the transaction. Simon Ward commented “MeDiNova is an outstanding UK success story. The business has seen strong growth over recent years and we worked with the shareholders over a long period to prepare for the next stage of its development. ICON are a global player and this strategic acquisition represents a great outcome for all”.
How we made a difference
- Worked with shareholders over several years to position the business for sale with a number of acquirers worldwide;
- Structured a transaction that recognised the significant recent and projected growth in the business; and
- Project managed due diligence and legal processes.
Kumar Muthalagappan OBE, Chief Executive - MeDiNova Research
Springboard worked alongside my fellow shareholders and I for a number of years to prepare and position Medinova. Ours was a fast growing global business that was attractive to a number of international players. The experienced, straightforward advice of Springboard was invaluable in the ultimate delivery of the transaction.