Client
ArchiMed, a private equity firm specializing in small- and middle-market healthcare companies in Europe and North America.
Opportunity
Driven by the promise for optimized patient outcomes, Precision Medicine has expanded rapidly beyond therapy selection into pharmaceutical development through a confluence of capital investment, new biotechnologies, and digitization of patient information. The resulting impact is being felt across the entire drug development lifecycle, from discovery to clinical development, giving rise to highly specialized bioanalytical CROs and pharmacogenetic technology companies to speed development and deliver precision pharmaceuticals to market.
Recognizing this emerging opportunity, ArchiMed engaged Crosstree to help the firm develop and execute its growth strategy in the early drug development space.
Outcomes
Leveraging granular knowledge of the clinical development and bioanalytics markets, Crosstree’s Strategic Services group helped ArchiMed develop a well-defined growth strategy. With the strategy set, Crosstree identified and evaluated various early drug development platforms and add-on acquisition targets.
Working closely with Crosstree’s Investment Banking team, the firm’s Strategic Services group identified Pyxant Labs, a specialized CRO with an extensive bioanalytical focus, LabCorp’s Hydra site and IMA Biotech as highly strategic complementary assets needed to create a differentiated early-stage drug development platform. LabCorp’s Hydra site greatly expands the early-stage development platform’s customer access and operational capacity while IMA Biotech, a leading-edge provider of bio-analytical and imaging techniques expands the platform’s service offering to include innovative molecular imaging services from preclinical to clinical stages.
The acquisitions were executed by the Investment Banking team, establishing ArchiMed’s presence in early drug development and providing the investment platform both the financial and strategic support needed to achieve synergies and accelerate innovation in this rapidly evolving market.
Crosstree’s Role
- Development of inorganic growth strategy
- Evaluation of strategic platform and two add-on targets
- Execution of Archimed’s acquisition of Pyxant Labs
- Execution of Pyxant Labs’ acquisition of Covance by Labcorp’s Hydra site