CM acquires IC Axon

Healthcare communications company ClinicalMind (CM) has completed its acquisition of Canada-based IC Axon, a provider of training services for pharmaceutical and life science businesses.

No financial details were announced.

Headquartered in Montreal, IC Axon designs and delivers customised clinical and sales training services to clients worldwide.

The group offers strategic planning and curriculum management programmes, mobile learning strategies and assessment and coaching tools, among others.

Its clients include the likes of Abbot Medical Optics, Pfizer, Bristol-Myers Squibb and Boehringer Ingelheim.

Jeanne Martel, chief executive of the acquiror, said: “IC Axon brings a unique blend of learning and development expertise to the CM family of companies.

“We are excited to now offer our clients the expanded capabilities of IC Axon’s digital learning strategies and training approaches for the benefit of new sales and clinical field teams.”

In November 2019, Renovus Associated completed a recapitalisation of CM for an undisclosed sum.

At the time, the buyer said the transaction would allow the company to maintain its growth and expand its technology services for clients.

Rob Charasidis, general manager of the target, noted: “We have found that culturally and in terms of business goals, IC Axon and CM are well aligned and will be a value-added strategic partnership for all our customers.”

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Formed in 2011, the purchaser operates as a partner for biotech and pharmaceutical companies, especially those preparing to launch new and first-in-class therapies.

CM has over 2,600 users and has supported nine launches within the last six years, according to its website.

Zephyr, the M&A database published by Bureau van Dijk, shows there have been 8,005 deals targeting data processing, hosting and related services providers announced worldwide in 2020 to date.

In the most valuable of these, Teladoc Health agreed to buy US-based Livongo Health for USD 18.50 billion.

The transaction represented the fourth-largest transaction on record for this sector.

© Zephus Ltd

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