Double Helix Bio-Technology Limited / McCann Health
Cavendish is delighted to have advised on the sale of Double Helix Bio-Technology Development Ltd (“ Double Helix”), a leading, global provider of Market Research and Market Access services to the pharmaceutical and medical device industries, to McCann Health, owned by Interpublic Group [NYSE: IPG].
Founded by Dr Wayne Phillips and based in London, Double Helix employs over 90 employees in four offices strategically located in London, New York, Philadelphia (Fort Washington,P.A.), and Singapore. Double Helix not only specialises in the established markets of the US and Europe, but also focuses on emerging markets, providing clients with a truly global perspective. In the past year, Double Helix has performed projects across more than 40 countries for over 30 major pharmaceutical multinational clients.
McCann Health is a part of McCann Worldgroup, the largest marketing communications agency network in the world, and is a leading healthcare agency network owned by Interpublic Group [NYSE: IPG].
Dr Phillips will continue as CEO of Double Helix, reporting to John Cahill, CEO of McCann Health.
Dr. Phillips said, “ Linda and the team at Cavendish were superb. They managed a competitive sale process and generated interest from international buyers from the broad media and healthcare sectors. McCann Health is the right partner to allow us to leverage our strong reputational position and provide us with the resources to create an exciting and fulfilling future through the continued development and further internationalisation of the business.”
The deal was led by Linda Sullivan, Media and Technology Director at Cavendish. Linda Sullivan commented:
“ We are very pleased with this result. After a competitive sale process we identified a buyer who met our client’s price expectations and is the right strategic fit. The sale highlights the interest in quality market research and market access businesses in the healthcare sector from multinational media groups and healthcare consultancy businesses.
I wanted to express my personal thanks to you for all your efforts in achieving a successful sale of Yorktest. I never knew how stressful and complex the sale process could be. I really do appreciate your finding a good deal in quite difficult circumstances.
The Cavendish Team, led by Michael Jewell, did an excellent job managing a well-orchestrated auction process and ensuring the smooth closing of the transaction in a timely manner. They were professional and easy to deal with throughout and committed to achieving a successful outcome for the shareholders.
Cavendish’s Exit Review allowed us to align and mobilize all stakeholders on the key priorities that have the most impact on valuation over a 6-18 month period – a very valuable exercise.
Thank you so much for your efforts and teamwork in selling RPS! Your approach and process was vital to our successful sale of the Company. In particular, the initiation of a excellent and professional process enabled us to get the actual sales process launched and resourced effectively, which facilitated the smooth initiation of selling discussions in a thorough manner.
Gordon and Mike have built a strong relationship with the shareholders over the last three years, helping us to identify the right potential strategic partner and clearly articulating the strategic rational.
The Cavendish team were of great assistance throughout the sale process and in particular finding us the most fitting acquirer, helped by their strong networks in healthcare and their understanding of the oral care market.
Cavendish were a fantastic partner for World First throughout the investment process. We were impressed with their knowledge, level of service and professionalism and we are very excited about working with FTV to realise our growth plans.
At this critical stage in the business it has been important that we make all of the right decisions along the way and appointing Cavendish was one of these key decisions. We have worked with very professional and motivated individuals in Jonathan and Duncan on various stages of the process. We look forward to working with the Cavendish team again as our business develops toward our ultimate goals.
Cavendish were a great adviser throughout the process. They knew how to handle whatever situation occurred and the team were a total pleasure to work with. Thanks to their involvement, we drew a successful conclusion to the deal.
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