H.I.G. to support Navitas Life Sciences’ and its continued growth as a Global Next Generation CRO
Friday, August 6, 2021 CHENNAI and MIAMI - TAKE Solutions, a globally recognized domain intensive services provider in life sciences, today announced it has entered into a definitive agreement for a strategic partnership with an affiliate of H.I.G. Capital, a leading global alternative investment firm with $45 billion of equity capital under management. Through this strategic alliance, an affiliate of H.I.G. will be acquiring a 75% stake of Navitas Life Sciences, a wholly owned subsidiary of TAKE, to support the current management team in accelerating their growth plan and enabling TAKE to capture future Navitas growth potential.
Headquartered in Princeton, NJ, Navitas Life Sciences delivers full-service CRO, FSP expertise in data sciences, and regulatory and safety solutions for large blue chip pharmaceutical and biotech clients across North America, Asia Pacific, and Latin America. Navitas has over 30 years of rich experience across 550+ phase I-IV clinical trials, 1100 bioequivalence studies, 20+ therapeutic areas, and 40+ successful GCP/non-GCP audits.
The H.I.G. family of funds includes private equity, growth equity, real estate, debt/credit, and a dedicated life science fund. Their seasoned investment team has extensive and diverse experience across the entire value chain of healthcare and life sciences, from novel products targeting unmet medical needs, API or medical device manufacturers and distributors, large pharmaceutical and small biotechnology companies, to healthcare payors and benefit managers.
“We are delighted to partner with H.I.G. in our mission to accelerate access to outstanding drug development outcomes to people across the world by harnessing the power of technology and domain knowledge. H.I.G., with its global network and diverse experience across healthcare and life sciences, makes them an ideal partner to support Navitas’ continued growth as a Global Next Generation CRO”, said Srinivasan H R, Vice Chairman & Managing Director, TAKE Solutions. “H.I.G. has an excellent track record of building businesses and creating shareholder value, so this partnership is crucial for TAKE and TAKE’s shareholders. This transaction is a validation of our business model and its future growth prospects.”
"The strength of Navitas’ global platform, with delivery centers in the U.S. and India, provides unmatched solutions for its blue chip, global client base. We are excited to partner with Navitas’ talented leadership team and highly dedicated employees to further enhance the power of the platform and invest in delivery additional value for clients.” said Camilo Horvilleur, Managing Director at H.I.G. Capital. “Navitas’ capabilities go well beyond a traditional CRO as the Company leverages its expertise and technology for innovation and growth. As technology becomes an integral part of drug development value chain, we expect Navitas to become an increasingly important strategic partner to life sciences companies.”
The transaction is expected to close in the fourth quarter of 2021, subject to shareholder, regulatory and other customary approvals.
Avendus Capital served as financial advisor, Cyril Amarchand Mangaldas and Stark & Stark acted as legal counsels, and Ernst & Young as accounting and tax diligence advisor to TAKE Solutions. Crosstree Capital Partners served as advisor to H.I.G., McDermott Will & Emery and AZB & Partners provided legal advice.
About TAKE Solutions
TAKE Solutions is a full-service CRO & technology company supporting pharma, biotech and devices companies across the globe.
In the fast-growing Life Sciences space, TAKE offers clients a unique combination of full-service Clinical Research, Generics Development, Data Sciences, Regulatory Affairs, and Pharmacovigilance/Safety services backed by unique technology expertise. Our range of services span from clinical trials to regulatory submissions to post- marketing safety, all backed by insights derived through proprietary industry networks forums. With a team of leading Life Sciences experts, best-in-class systems and processes, and bespoke, industry-specific technology and analytics, TAKE delivers successful outcomes for clients. Our global roster of clients includes large and small innovator biopharmaceutical and devices companies as well as generics manufacturers.
With operations spread across the globe, TAKE is a Public Company, listed in India on the Bombay Stock Exchange and the National Stock Exchange.
For more details, please visit www.takesolutions.com.
About Navitas Life Sciences
Navitas Life Sciences delivers platform-driven full-service Clinical, Regulatory, and Safety solutions and services. As the dedicated life sciences brand of TAKE Solutions, Navitas Life Sciences operates across North America, Asia Pacific, and Latin America. Navitas brings together the capabilities of a full-service CRO, a technology-led life sciences services provider, and expertise in analytics and data sciences to address critical challenges and drive outcomes for life sciences.
Navitas has over 30 years of rich experience across 550+ phase I-IV clinical trials, 1100 bioequivalence studies, 20+ therapeutic areas, and 40+ successful GCP/non-GCP audits. Our trial expertise is augmented by OneClinical, a platform that delivers trial oversight, analytics, and insights to drive successful study outcomes. With over 50 strategic regulatory consulting engagements, Navitas has delivered 180,000+ submissions to a range of regulatory authorities across the globe.
Backed by insights derived from our proprietary industry networks, and over 300 strategic safety consulting engagements, Navitas supports both in-trial and post-authorization pharmacovigilance to ensure better patient safety. Over the last 17 years, our 10 proprietary industry networks have provided a platform for industry peers to share with and learn from each other. With over 120 members, the ‘nets’ drive the development and adoption of industry best practices and innovations.
Navitas Life Sciences brings together the best minds in the industry to provide life sciences companies with an adaptive, innovative, and reliable partner who delivers better outcomes consistently, across the value chain.
To learn more, visit www.navitaslifesciences.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with $45 billion of equity capital under management*. Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm's current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.
* Based on total capital commitments managed by H.I.G. Capital and affiliates.
For media information, contact:
Rajeswari Pradeep Kumar, TAKE Solutions, +91 99400 64483, This email address is being protected from spambots. You need JavaScript enabled to view it.
Giselle Jordan, H.I.G. Capital, +1 305-379-2322, This email address is being protected from spambots. You need JavaScript enabled to view it.
