Our Corporate Finance team has successfully advised the shareholders of medical communications and insights specialist, Porterhouse Medical Group, on the sale of the company to imc group, backed by Waterland Private Equity.
Based in Reading and with offices in the US, Porterhouse Medical Group offers strategic medical communications, publication planning and insights research. The medical communications sector has been attracting significant interest of late, with a number of prominent organisations merging and acquiring to increase market share. Recent market predictions anticipate a growth of circa 9 per cent a year in the sector, fuelled by factors including the high demand for new drug treatments, R&D investment, increasing regulation and outsourcing, which in turn lead to a rising demand for effective healthcare communications.
The team were appointed by the shareholders of Porterhouse Medical Group to act as lead adviser on the sale of the business, helping to structure the deal and project manage the process within a tight timeframe. Established in 2006, imc group specialises in medical communications solutions to global pharmaceutical, biotech and medical device clients. In May 2020 Waterland Private Equity invested in the company, to support its ambitious plans to create an international independent healthcare communications agency group with Porterhouse identified as the first bolt-on acquisition. Significant follow on funding will enable the continued growth of the enlarged business both organically and through a global buy and build strategy.
“We’re excited to be building the future of strategic healthcare communications as we join forces with imc group, together extending our reach and service provision across North America and Europe. We’re confident that Porterhouse and imc together will continue to deliver innovative solutions for our clients during their most challenging period yet. We simply couldn’t have done the deal so smoothly and within the timeframe without the team; Clive and Bilal were consummate professionals with a unique perspective on the inside track, we can’t recommend them enough.” Jon Hallows, Co-Founder and Joint MD of Porterhouse Medical Group.
“We were delighted with the advice and expertise that the team provided us during the transaction. In particular, the way they conducted the negotiations during due diligence and the rapport they built with their counterparts was a testament to their experience in M&A. We worked predominantly with Clive and Bilal and they were a pleasure to do business with.” Brian Parsons, Co-Founder and joint MD of Porterhouse Medical Group.
“It was our first experience working opposite the team. We were pleased with the level of senior engagement from Clive and Bilal throughout. They adopted a collaborative and transparent approach which meant we overcame any barriers during the transaction with minimal fuss. This led to a smooth process delivered on the timetable set out at the start despite the difficult circumstances caused by Covid-19. We’d be happy to work opposite or alongside the team in the future.” Dominic Graham, Senior Investment Manager at Waterland Private Equity.
“We’re delighted to be welcoming Porterhouse to the imc family. Combined, we will have over 165 employees across four countries, offering seamless solutions for all our clients. Together we can build on the fantastic capabilities that imc and Porterhouse collectively have, I couldn’t be more thrilled.” Shairose Ebrahim, imc group Co-Founder, President & CEO.
“This transaction was started and concluded within the Lockdown period which is testimony to the positive and collaborative approach taken by both sides in the process. imc group was a natural partner for Porterhouse and the directors have known each other in the industry for many years. Med Comms and Insights is an exciting, growth service area which has seen Porterhouse more than double revenue and profits in the last few years. No doubt they will continue this success within the imc group and enjoy being part of a major new global consolidator.” Clive Hatchard.
Technology, Media and Telecoms (TMT)
Selling a business
We were delighted with the advice and expertise that the team provided us during the transaction. In particular, the way they conducted the negotiations during due diligence and the rapport they built with their counterparts was a testament to their experience in M&A.Brian Parsons Co-Founder of Porterhouse Medical