IDIS acquired by CLINIGEN GROUP
Context
Clinigen Group acquired IDIS from private equity firm CBPE Capital. This acquisition brings together the two leading players in the ethical unlicensed medicines market. For CBPE, this exit represents a phenomenal success story: after backing the management buyout in 2005 and holding the asset for a decade, they achieved a 22x return on their original investment. The industrial logic for Clinigen is to consolidate the fragmented $5 billion unlicensed medicines market, combining IDIS's regulatory expertise and broad geographic footprint with Clinigen's existing infrastructure to serve healthcare professionals and pharma clients more effectively worldwide.
IDIS, which reported an EBITDA margin of [members only] in 2015, is valued in this transaction at an EV/EBITDA multiple of 10x–18x, representing a level close to the average currently observed in the Healthcare & Pharma sector (14.3x).
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Target
Founded in 1987 and headquartered in Weybridge (with a US base in Princeton), IDIS is a specialized provider of "Managed Access Programs" (MAPs). The company helps pharmaceutical companies provide ethical access to unlicensed medicines for patients with unmet medical needs (e.g., providing a cancer drug to a patient in a country where it is not yet approved). It navigates the complex regulatory landscape to supply medication in nearly 100 countries.
Ent. Value
£100–350M
Equity Value
[members only]
Multiples
EV / Revenue
1x–3x
EV / EBITDA
10x–18x
EV / EBIT
[members only]
Historical Financials (GBP)
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| 03/2020 | LDC | AGENTIS HEALTH GROUP | UNITED KINGDOM | Healthcare Services |
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REFERENCES
Valuation range: EV £100–350M
Revenue range: £100–200M
EBITDA range: £5–25M
EV/Revenue range: 1x - 3x
EV/EBITDA range: 10x - 18x
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Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.