Amulet Capital Partners L.P., a middle-market private equity investment firm in Greenwich, Connecticut, announced it has acquired Parsippany-based OPEN Health, a health communications and market access group.
OPEN Health is also merging with its existing portfolio company, Peloton Advantage, a provider of medical communications services to medical affairs departments at pharmaceutical, biotechnology and medical device companies.
Current CEO of OPEN Health, David Rowley, will continue to serve as the company’s CEO. He will be supported by the executive team consisting of Sandy Royden, co-founder of OPEN Health, and Carolyn S. Clark and Michael J. McLaughlin, co-founders of Peloton.
“The merger of Peloton and OPEN Health provides very strong strategic, geographic, therapeutic and management synergies. Both teams believe that as a combined entity we can provide a wider range of services to our current clients, as well as allowing for geographic expansion of core competencies on both sides of the Atlantic and beyond. We are very excited to be starting this new chapter in our corporate history with the founders of both businesses committed to a strong future together,” Rowley said.
Financial terms of the deal were not disclosed.
The new company will operate in seven locations across three continents with about 520 employees.
“We have known David for many years and are delighted to merge with the OPEN Health team. This merger significantly expands our client footprint and financial profile globally, adding meaningful scale and profitability to our company. Working with OPEN Health to leverage our complementary offerings to 90% of the world’s top 40 pharmaceutical companies will fuel continued growth, while maintaining best‐in‐class client service. We are pleased to have Amulet’s financial support as we combine our efforts with OPEN Health to further enhance our results and expand our reach for our clients,” Clark said.