We are pleased to report that we have agreed the sale of global healthcare business, Helios Global Group (Helios), to Telemos Capital (Telemos), following a period of significant growth.
Helios, the Cheshire-headquartered full-service healthcare communications group, works with world-leading pharmaceutical and biotech clients to deliver high-quality, high-impact services for its clients – including strategic consultancy, medical and scientific communications; and commercialisation solutions, alongside HEOR and market access services.
On investment, the founders had already demonstrated a strong track record of year-on-year growth and deep therapeutic area expertise, alongside having a reputation for working on globally significant projects. Since 2021, the business has tripled its revenues, more than tripled its headcount, from 80 to almost 300, and expanded its global operations across the UK and US – all whilst maintaining market-leading EBITDA margins, high quality service delivery and strong employee engagement.
During the partnership, we have supported the business to establish a material presence in the US, significantly increasing the addressable market; expand into new therapeutic areas and clients; further develop its leading employee value proposition, which facilitated significant headcount growth and over 90% colleague retention; and upgrade the technology stack, to enhance service delivery and operational effectiveness.
In addition, earlier this year we supported Helios with the acquisition of Cogentia, a leading health economics and outcomes research (HEOR) and market access consultancy, to further expand its specialist services and increase global scale.
Phil Frame, Partner at NorthEdge, said: “We have thoroughly enjoyed supporting the Helios team since our investment in 2021. Since then, we have seen the business grow its national and international footprint, team and the number of clients it services – it’s another great example of a successful, regionally headquartered business that has global reach and a genuine impact on health outcomes. We look forward to watching the company continue to thrive with its new investment partner, Telemos.
“The exit of Helios represents our fourth regional healthcare deal in the last twelve months, following our investments into Latus Group, RoukenBio and Torbay Pharma, and demonstrates our commitment to supporting businesses in this sector to realise their strategic and social potential.”
Andrew Minnock, CEO of Helios Global Group, added: “Our journey with private equity investment to date has been an incredibly positive and enabling experience. We would like to thank the NorthEdge team for their contribution to the growth and continued success of Helios over the past three and a half years.
“Following their support, we are now ready for the next phase of our journey and remain incredibly excited about the future for Helios.”
Telemos’ investment will support the Helios team to deliver their ambitious growth plan, which includes expanding into new service lines, harnessing innovative technologies and continuing to scale the internal infrastructure to support its client base.
The exit was led by Phil Frame, Partner at NorthEdge, alongside Andrew Minnock, CEO, and the senior management team at Helios. It represents the tenth exit for NorthEdge Fund II, following the exit of Cutwel to Inflexion in August.
NorthEdge and Helios were advised by Baird (Corporate Finance) and Squire Patton Boggs (Legal).
Completion is expected in October 2024 and is subject to customary approvals.