Fri, 04 Mar 2022 | BUSINESS SALE
Prescient Healthcare Group has acquired London-based pharma consultancy Strategic North in a move that expands its strategy offering to clients. The move comes amid an ongoing wave of professional services M&A, in which medical and pharma related firms have played a key part.
Strategic North was founded in 2010 and supports clients through the planning and marketing of new products. The firm also provides market and customer insights for a range of global brands, working alongside regional and overseas marketing teams to help clients gain market share.
A core factor in Strategic North’s acquisition by Prescient was the firm’s brand strategy offering, through which it develops deep insights into stakeholder needs and behaviour. Post-acquisition, this will enable Prescient to enhance its insights capabilities.
Prescient Healthcare is a biopharma product strategy and decision support firm based in London. Following its founding in 2007, the company has expanded to have a presence in eight cities over three continents, with a team of over 350 experts working with 23 of the world’s top 25 biopharmaceutical firms. The business also works with emerging biotech firms and fast-growing mid caps.
Prescient CEO Jamie Denison-Pender said: "Strategic North's strengths in commercial strategy, brand strategy and stakeholder insights will add depth to Prescient's existing client partnerships. This integration supports cross-functional teams across the life cycle by helping unlock the full potential of assets from molecule through to brand and ensuring that the voices of the payer, prescriber and patient are central to business decision making."
Strategic North co-founder and Managing Director Steve Padgett added: “Our core objectives for 2022 will be to effectively integrate our respective teams and cultures, expand the Strategic North capability in the US and further differentiate our core service lines by leveraging our combined capabilities.”
Having been a key part of the growth of professional services M&A prior to the pandemic, the COVID-19 pandemic, which has fluctuated and persisted for two years now, has made professional services firms working in life sciences, healthcare and pharma even more attractive to potential buyers.
At the start of the 2020, 25 per cent of respondents in a study of professional services buyers named life sciences and healthcare as a key priority. By the end of 2020, 49 per cent named the sectors as their key priority vertical for 2021. Read more about the M&A boom in professional services in this recent BSR insight.
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