June 2018 (Boston, MA) – Covington Associates LLC, a leading middle market investment bank announced its role as exclusive advisor to Commonwealth Informatics, Inc., a market-leading provider of cloud-based drug safety analytics products and services for medical research and healthcare delivery, in the sale of its business to Genpact, a global professional services firm. The terms of the transaction were not disclosed.
“With the integration of Commonwealth Informatics’ ground-breaking signal management solution into the Genpact PVAI suite of capabilities, we can better help life sciences companies achieve end-to-end transformations of their pharmacovigilance operating models, serving as their single go-to partner,” said Balkrishan “BK” Kalra, business leader for Life Sciences and Healthcare at Genpact. “We believe that our enhanced PVAI suite has the potential to be revolutionary in its impact across the industry, shifting resources from transaction processing to analyzing the effects of medicines on public health. Genpact’s PVAI offering is currently being implemented by a number of large pharmaceutical companies, including a top-five global pharmaceutical leader. With the added capabilities from CI, we are excited to provide a comprehensive solution capable of transforming pharmacovigilance.”
“Commonwealth Informatics is thrilled to join forces with Genpact and combine our software and expertise in close collaboration with our customers to create the future of pharmacovigilance systems,” said Geoffrey Gordon, Founder and President, Commonwealth Informatics. “We are also excited to use this strong foundation as the basis for future work with healthcare organizations to close the loop and realize the full potential of a learning healthcare system.”
Genpact currently serves the majority of the top global life sciences companies, helping pharmaceutical and medical devices companies pursue global growth, achieve cost reduction, increase speed to market, and improve regulatory compliance by providing a range of digital solutions, analytics services, and business process transformation expertise.
This transaction represents the second time that Covington Associates has facilitated a sale for the founders of Commonwealth Informatics as Covington Associates orchestrated the sale of their previous company, Lincoln Technologies, to Phase Forward. “It is always exciting to work with serial entrepreneurs and the Commonwealth Informatics team are some of the best,” said Ben Dunn, Managing Director, Covington Associates.
About Covington Associates LLC
Covington Associates is an investment banking firm offering advisory services in the areas of mergers and acquisitions (“M&A”), capital raising, strategic advisory, fairness opinions, and valuations to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals. Founded in 1991, with offices in Boston, the vision for Covington has been to provide clients with the highest caliber of senior-level attention and to remain an advice driven and results focused organization. Since its inception, Covington Associates has completed more than 200 transactions globally for both private and publicly traded companies totaling over $15 billion. To learn more about Covington Associates visit http://www.covingtonassociates.com/overview.
About Commonwealth Informatics
Commonwealth Informatics is a technology and services company with industry expertise in medical product safety and public health surveillance. Pharmaceutical and biotechnology companies, government agencies, and healthcare providers use Commonwealth’s products and services to assemble relevant data and answer complex clinical and safety analysis questions quickly and accurately. Learn more about the innovative products and services that are helping to improve the speed and accuracy of pharmacovigilance evidence generation at https://www.commoninf.com.
Genpact (NYSE: G) is a global professional services firm that makes business transformation real. We drive digital-led innovation and digitally-enabled intelligent operations for our clients, guided by our experience running thousands of processes for hundreds of Global Fortune 500 companies. We think with design, dream in digital, and solve problems with data and analytics. We obsess over operations and focus on the details – all 78,000+ of us. From New York to New Delhi and more than 20 countries in between, Genpact has the end-to-end expertise to connect every dot, reimagine every process, and reinvent companies’ ways of working. We know that rethinking each step from start to finish will create better business outcomes. Whatever it is, we’ll be there with you – putting data and digital to work to create bold, lasting results – because transformation happens here. To learn more about Genpact visit www.genpact.com.