Clinical services company seeks fairness opinion and valuation in connection with proprietary add-on acquisition opportunity

Client need

Our client was a global data and technology company that provides pharmaceutical outsourced services, primarily offering cardiac safety and respiratory efficacy services used in conjunction with clinical trials. The company was presented with an opportunity to acquire the cardiac safety services business unit of one of the largest integrated clinical research organizations (CRO) in the world. In addition to the acquisition, the company would enter into an exclusive marketing agreement with the CRO, becoming the exclusive provider of cardiac safety services to the CRO and all of its clients.

A public company, the client had not previously completed an acquisition and the Board of Directors wanted an independent review of the valuation of the target, as well as the overall opportunity presented by the potential acquisition.

Baker Tilly Capital solution*

Baker Tilly Capital was hired as the financial advisor to provide a fairness opinion and other valuation advisory services in connection with this transaction. The team was able to mobilize quickly in order to maintain our client’s exclusivity on the deal, and this required timely development of a valuation model as well as an integrated business case model. 

Results

As a result of our team’s fairness opinion and comprehensive analysis, the company successfully received approval from its Board of Directors, allowing the company to close the highly strategic transaction in a timely manner and quickly integrate the CRO’s cardiac safety services business unit into its own.

For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.

* Services provided by Curtis Securities, LLC, which merged with Baker Tilly Capital, LLC

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