Nordic Capital and Astorg have announced an agreement to jointly acquire Cytel Inc from New Mountain Capital.
Cytel is one of the largest providers of statistical software and advanced analytics for clinical trial design and biometrics execution, states the companies. Building on Cytel’s advanced software platform and leading biometrics services offerings, the new owners will invest in the continued development of the business and its software. Cytel’s management team, led by CEO Josh Schultz, will continue to lead the organization.
Headquartered in Waltham, Massachusetts, Cytel has more than 1,500 employees across North America, Europe and Asia. Cytel’s software and services are used by over 500 life sciences customers, including the world’s 30 top pharmaceutical companies, as well as regulatory bodies such as the FDA.
“Cytel is a fantastic company. We’ve been impressed with its unique position, outstanding reputation and trust within complex clinical trials and statistical science, and we look forward to supporting Cytel’s expansion in partnership with the management team and founders,” said Judith Charpentier, Partner and Head of Healthcare, Astorg. “Together, we will fuel Cytel’s growth, with a shared vision of building a leading provider of advanced analytics and software for the life sciences industry,” said Daniel Berglund, Partner, Nordic Capital Advisors.
The terms of the transaction were not disclosed. The transaction is subject to customary regulatory approvals.
About Nordic Capital
Nordic Capital is a private equity investor, it focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 15.5 billion in over 110 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US.