Inflexion invests £434m in GlobalData’s healthcare biz

The transaction values the business at £1.1 billion.

  • The investment is being made by Inflexion’s minority equity strategy, Partnership Capital Fund
  • The healthcare data business is the largest division of AIM-listed GlobalData
  • Inflexion is a mid-market private equity firm

Inflexion has agreed to carve out GlobalData’s healthcare division as a standalone entity in a transaction valuing the business at £1.1 billion (€1.2 billion; $1.3 billion). This represents a 22x multiple of June 2023 LTM EBITDA for the division on a standalone basis.

Inflexion is investing £434 million in the healthcare business via its minority equity strategy, Partnership Capital Fund. As part of the transaction, Inflexion acquires a 40 percent shareholding in GlobalData’s healthcare division.

GlobalData will retain 60 percent of the division and it will remain a subsidiary of the company.

The healthcare data business is the largest division of AIM-listed GlobalData and employing over 1,000 people across 10 countries. GlobalData’s subscription service offers data for customers across large global pharma, pharma and biotech, pharma suppliers, professional services and medical devices manufacturers. The company is based in London.

The healthcare division represented 36 percent of GlobalData’s June 2023 LTM revenue, according to a press statement.

Inflexion will work together with GlobalData to accelerate organic growth primarily through securing new clients globally and cross-selling to existing clients, continuing to invest in the product and content, as well as pursuing selective M&A, according to a press statement.

Inflexion is a mid-market private equity firm that invests £10 million to £400 million of equity in each deal. Funds advised by Inflexion Private Equity Partners have funds under management of around £8 billion. The firm has offices in London, Manchester, Amsterdam and Stockholm.