- OPEN Health was acquired by Astorg in May 2021
- The CM Group is a US-based medical communications platform
- The deal will look to expand The CM Group’s global reach and portfolio of scientific solutions
Astorg-backed OPEN Health today announced it is set to acquire Hingham, Massachusetts-based medical communications platform The CM Group from NaviMed Capital. The CM Group provides integrated solutions to the US domestic biotech and pharma industry. The partnership between OPEN Health and The CM Group will expand the platform’s global reach and portfolio of scientific solutions.
OPEN Health was acquired by Astorg in May of 2022 as reported by PE Hub. London-headquartered Astorg has assets under management of €17 billion. It looks to invest in global companies headquartered in Europe or the US valued between €150 million and to €2 billion via a variety of funds.
“The CM Group provides us with a significant scientific communication offering within the US domestic marketplace,” said Rob Barker, CEO of London-headquartered OPEN Health. “Our clients are global and need providers who understand not only the increasing complexity of the science, but also the ever-changing global and local landscapes. We are excited to welcome The CM Group into the OPEN Health family and look forward to working with our new colleagues to offer our clients innovative, scientific solutions around the globe.”
Navimed Capital is a Washington, DC-based private equity firm that focuses on the healthcare industry. It looks for fast growing lower middle-market healthcare businesses. It looks to target profitable private companies with up to $10 million of EBITDA and double-digit growth revenue.
“Our journey with The CM Group began with a strong foundation, which enabled acquisitions and expansions that further entrenched its market position across US scientific communications,” said Bijan Salehizadeh, co-founder and managing director, and Ryan Ross, principal of NaviMed. “We believe that OPEN Health is an ideal partner to lead the company’s next growth phase as a global scientific leader, and we are excited about the company’s bright future.”