International Finance

Nordic Capital agrees to acquire majority stake in ArisGlobal for $700 mn

Nordic Capital, ArisGlobal
With the deal, Nordic plans to set up its first US office in New York and boost its investments in the US healthcare sector

Private equity fund Nordic Capital will soon purchase a majority stake in ArisGlobal, an American healthcare software company for $700 million including debt, according to the Wall Street Journal.

The deal comes after ArisGlobal’s industry rival Medidata Solutions announced its plans to sell its business to a European software company Dassault Systèmes for $5.8 billion, including debt. This indicates that there is an increase in adoption of software in the pharmaceutical industry to lower costs and minimise the risk of drug development.

With the deal, Nordic plans to set up its first US office in New York and boost its investments in the US healthcare sector. According to media reports, ArisGlobal Chief Executive Sankesh Abbhi will continue in his current role. Abbhi and his family would retain a small stake in ArisGlobal.

ArisGlobal employs 1,200 people across its US headquarters and regional offices in Europe, India, Japan, and China.

Since its founding in 1989, Nordic Capital has invested more than $6.01 billion in healthcare companies. Of the investment,  $1.4 billion targeted US businesses.

Partner at Nordic Capital Raj Shah said, “The US is a key global market for healthcare companies and offers opportunities that are consistent with Nordic Capital’s healthcare investment strategy for both new investments as well as existing portfolio companies.

“Nordic Capital has been investing in the US healthcare market for many years and establishing an advisory office in the US for healthcare is a natural evolution. We look forward to building on Nordic Capital’s thirty-year track record in global healthcare investment.”

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