Healthcare logistics company Marken is to be acquired by UK-based financial investor Apax Parnersand management to strengthen its financial position.
Apax announced that a consortium of funds and company management has reached agreement to buyMarken for an undisclosed sum from Intermediate Capital Group (ICG). The transaction is subject tothe relevant anti-trust clearances and is expected to complete in early 2010.
Marken, a British company specialising in clinical trial logistics, was formerly part of Exelplc. Following the latter’s acquisition by Deutsche Post in 2005, it was sold to investor 3i for anundisclosed sum. UK media had previously referred to a £210 million transaction. In July 2007,management bought a majority holding while ICG replaced 3i as the institutional investor.
Marken specialises in logistics and support services for the biopharmaceutical industry,fulfilling a key role in the early phase II + III stages of research and drug development,responsible for the export of trial medication, vaccines and clinical trial material, cold-chainmanagement, protocol support and regulatory advice, investigator liaison and biological samplemovement on a global basis. It is currently involved in some 2,500 clinical trials around theworld, according to website information. Marken’s clients and partners include pharmaceutical andbiotechnology companies, Contract Research Organisations, clinical trial supply companies andacademic and government organisations.
“We are delighted to have the opportunity to back Marken and its excellent management team.Marken is a world leader in providing clinical logistics services to the biopharma industry, andits top quality offering means that it is poised for substantial growth as the industry continuesthe process of globalisation. Apax Partners’ considerable expertise in healthcare and our globalnetwork means we are the natural partners to assist Marken in the next phase of its growth,” saidKhawar Mann, Partner and Global Co-Head of the Apax Healthcare team.
Apax Partners has invested significantly in the healthcare sector in recent years.Investments include General Healthcare Group (the largest private hospital group in the UK), Capio(a leading pan-European hospital group), Unilabs (a leading European clinical laboratory business),Apollo (India’s largest private hospital group), Trizetto (a leading healthcare IT company in theUS) and Qualitest (the 6th largest generic pharmaceutical manufacturer in the US).
Apax Partners is one of the world’s leading private equity investment groups and operatesacross the United States, Europe and Asia. Funds advised and managed by Apax globally total around$40 billion, providing long-term equity financing to build and strengthen world-class companies.The focus sectors are Tech & Telecom, Retail & Consumer, Media, Healthcare and Financial& Business Services.
