Carlyle Group And Brighton Park Capital To Invest $200 Mn In Indegene

The funds will be used to accelerate the company's global expansion and consolidate its industry-leading position in healthtech solutions

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Bengaluru-headquartered enterprise healthtech solutions provider Indegene on Wednesday announced that the Carlyle Group and Brighton Park Capital will acquire minority stakes in the company for $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.

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Torreya, Seyfarth Shaw, Deloitte, KPMG, and Tatva Legal advised the company on this transaction. Moelis & Company, EY, Shardul Amarchand Mangaldas & Company, Latham & Watkins, and Bain & Company acted as advisors for the Carlyle Group. Brighton Park Capital was advised by EY, Paul Weiss, and Bharucha & Partners.

“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,” shared Manish Gupta, co-founder, and chief executive officer, Indegene.

Founded in 1998, the company, with more than 3,000 employees across North America, Europe, China, Japan, and India, provides technology platforms and commercialization services to pharmaceutical, biotechnology, and medical device companies.

Clients partner with the establishment 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, the statement 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,” stated Neeraj Bharadwaj, managing director, Carlyle Asia advisory team.

The platform has said to have 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.

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, the report said.

Given the wider adoption of digital initiatives within the healthcare industry, the healthtech company plans to use the primary investment from the Carlyle Group and Brighton Park Capital to accelerate its mergers and acquisitions (M&A) and global expansion plans.

“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,” added Mark Dzialga, managing partner, Brighton Park Capital.

Over the last decade, the company maintained to have 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 per cent revenue compound annual growth rate (CAGR) over a decade. This growth rate is accelerating with strong industry tailwinds driving a rapid shift towards digital-first operations.