American Preclinical Services’ offers state-of-the-art laboratory and analysis tools to NAMSA, the world’s only specialist in end-to-end medical device testing.
March 2, 2021 – NAMSA – one of three key investments of ArchiMed’s MED Platform I – Europe’s largest healthcare fund – has purchased American Preclinical Services (APS). NAMSA and APS are leading contract research organizations, offering cost-efficient, outsourced services for healthcare-related testing.
Toledo, Ohio-based NAMSA, founded in 1967, is the only CRO in the world focused exclusively on end-to-end services for medical devices, offering consulting, testing and project management through every development stage, from conception to global regulatory approval and commercialization. Minneapolis, Minnesota-based APS, founded in 2005, significantly enhances NAMSA’s already robust lab solutions with cutting-edge surgical instrumentation, testing spaces and advanced imaging capabilities.
“We’re excited to join forces with NAMSA, the pioneer and long-standing leader of the medical device testing industry,” says APS President and CEO Michael Conforti. Adds NAMSA President and CEO John Gorski: “Together, we look forward to advancing patient healthcare by efficiently and safely helping sponsors deliver innovative, life-saving medical technology throughout the world.” The deal increases NAMSA’s footprint in Minnesota, one of three U.S. states dominating medical device development (along with California and Massachusetts), and opens up NAMSA’s large global client base to APS.
The proprietary debt-and-equity deal – done outside of an auction and without intermediaries – was arranged by ArchiMed and is NAMSA’s second acquisition since the global private equity healthcare specialist acquired control of the group in August 2020. Staff and the founding family took some 30 percent of NAMSA at the time of its purchase, illustrating ArchiMed’s partnership model.
“Trust built up over years between the leaders of all our groups, a glove-like fit in terms of services and shared long-term vision were the essentials making the APS deal possible,” says André-Michel Ballester, one of ArchiMed’s three Managing Partners.
MED Platform I, which holds NAMSA, partners with growth companies, buying majority stakes for €50-€500 million, in association with owners and managers. MPI provides its platforms with resources to broaden product lines and expand geographically, accelerating growth through aggressive acquisition. The fund owns two platform companies in addition to NAMSA: Italy-based BOMI Group, a specialist in complex healthcare logistics, and UK-based DHG, a developer of products for patients with mobility issues. Multiple buy-and-build acquisitions by all of these firms have been completed with more in the pipeline. A fourth platform investment is expected shortly. MPI closed on €1 billion in August 2020, making it the largest healthcare fund ever raised by a European-headquartered firm.
Debt financing for NAMSA’s acquisition of APS was provided by funds managed by Ares Management Corporation.
About ArchiMed www.archimed-group.eu
ArchiMed is a leading private equity firm focused exclusively on the healthcare industry. ArchiMed serves as a strategic and financial partner to European and North American small and middle-market businesses in targeted segments of healthcare, including pharmaceuticals, medical devices & technology, healthcare IT and consumer health. ArchiMed’s strategy is based upon healthcare specialization, integrated private equity, medical and operating expertise, and its unique trans-Atlantic platform that supports growth through internationalization. Over the last 20 years, ArchiMed’s leadership team has directly managed and invested in over 40 small to large-size healthcare companies globally, representing over €5 billion of invested capital. ArchiMed currently manages nearly €2 billion in assets across four funds, small-cap focused MED I and MED II, gene & cell therapy focused PolyMED and mid-cap-focused MED Platform I. The latter is Europe’s largest healthcare fund at €1 billion. ArchiMed’s MED I is the top performing buyout fund on a global level for the 2014 vintage, returning in excess of six times invested capital on a gross basis. ArchiMed is an impact investor and a signatory of the Principles for Responsible Investment, pledged to uphold the United Nations’ Sustainable Development Goals.
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