Astorg buys Open Health in SBO from Amulet

Amulet acquired Open in late 2018, merging it with its US portfolio company Peloton Advantage. 

The company provides scientific communications and market access services to the pharmaceutical industry. It works across 15 locations and six countries in North America, Europe and Asia. 

It has over 170 clients in the life sciences sector, including 48 of the top 50 pharmaceutical companies, Astorg said in a statement. 

Open's management team, led by CEO Rob Barker, will continue to lead the organisation. 

The company had an estimated EBITDA of USD 50m in 2022 and the deal was expected to reach USD 1bn EV, as reported. 

The deal is Astorg's second recent buyout in the healthcare space after the GP recently acquired CordenPharma from ICIG.  

Last year, Astorg filed its eighth flagship fund in Luxembourg, which will invest in companies with an enterprise value greater than EUR 600m, according to documents on Astorg's website.

That fund's predecessor, Astorg VII, held a final close in January 2019 at EUR 4bn.

The GP also recently closed its inaugural mid-cap fund on its EUR 1.3bn hard cap.

Advisors

Amulet - Houlihan Lokey (M&A)

Astorg - Rothschild & Co (M&A)

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