Houlihan Lokey Advises Evaluate

Houlihan Lokey is pleased to announce that Evaluate, a portfolio company of Hg, has merged with Managed Markets Insight & Technology, LLC (MMIT), a portfolio company of Welsh, Carson, Anderson & Stowe. As part of the transaction, Hg also made an additional investment in the combined entity. The transaction closed on 29 September 2021.

Yardley, Pennsylvania-based MMIT, the trusted go-to-market partner solely focused on solving the “what and why” of market access, has joined forces with London-based Evaluate, a leading provider of commercial intelligence and predictive analytics to the pharmaceutical industry. This newly merged organization will offer customers a unique and comprehensive data solution offering both analytical and predictive data insights across the entire drug life cycle.

The two organizations will become a leading pharmaceutical commercial intelligence provider—one that aims to inform and support customers from pipeline to prescription. Combining Evaluate’s data-driven understanding of commercial opportunities with MMIT’s insight into patient coverage will offer customers an end-to-end view of the pharmaceutical market landscape, allowing them to enhance high-value strategic portfolio decisions, assess unmet needs, evaluate barriers to access, and develop pricing strategies and value propositions to ensure that treatments get in the hands of patients.

Since 1996, Evaluate has provided the life sciences industry with the data, insight, and intelligence to facilitate confident decision-making on high-value investments in treatments and markets. The company enables clients to embed its proprietary and industry data into their workflows, tools, and processes so they can work more effectively and efficiently.

Hg is a leading investor in software and services, focused on backing companies that change how people do business. Deep technology expertise, complemented by vertical application specialisation and dedicated operational support, provides a compelling proposition to management teams looking to scale their businesses. Hg has funds under management of over $37 billion, with an investment team of over 140 professionals, plus a portfolio team of more than 35 operators, providing practical support to help businesses realise their growth ambitions. Based in London, Munich, and New York, Hg has a portfolio of over 35 software and technology businesses, worth around $70 billion aggregate enterprise value, with over 50,000 employees globally, growing at over 20% per year.

For nearly two decades, MMIT has been solely focused on solving the “what and why” of market access and has been a trusted go-to-market partner. The company believes that patients who need lifesaving treatments shouldn’t face delays because accessing drugs can be confusing. As the leading provider of market access data, analytics, and insights, MMIT’s expert teams of clinicians, data specialists, and market researchers provide clarity and confidence so that clients can make better decisions.

Divisions of MMIT include AIS Health, creator of the Directory of Health Plans and leading healthcare publications; Zitter Health Insights, provider of market access insights and solutions for specialty drugs; RJ Health, the market leader in pricing and coding solutions for infusion drugs covered under the medical benefit; and The Dedham Group, the preeminent US market access oncology and specialty therapeutics consultancy.

WCAS is a leading US private equity firm focused on two target industries: healthcare and technology. Since its founding in 1979, the firm’s strategy has been to partner with outstanding management teams and build value for its investors through a combination of operational improvements, growth initiatives, and strategic acquisitions. WCAS has raised and managed funds totalling over $27 billion of committed capital.

Houlihan Lokey served as the exclusive financial advisor to Hg and Evaluate. This transaction is further evidence of the momentum in Houlihan Lokey’s Data & Analytics Group, whose recently closed transactions include the sale of eDriving to Solera; advising Informa plc and Inflexion on the combination of Informa’s FBX business with Novantas; the acquisition of Corsearch by Astorg; the sale of StormGeo to Alfa Laval; the acquisition of Itiviti by Broadridge; and the sale of Kynetec to Paine Schwartz Partners.