ARCHIMED invests in Title21 Health Solutions, a leading US-based healthcare software provider
Title21 Health Solutions is the only end-to-end software provider for cell & gene therapy labs. Its software digitizes all processes, thereby reducing paperwork, optimizing workflow productivity, improving traceability, regulatory compliance, and overall patient safety.
ARCHIMED reinforces its focus in the healthcare software space by investing in Phoenix, Arizona-based Title21 Health Solutions. The Trans-Atlantic private healthcare specialist is acquiring a majority of Title21. The investment was sourced through a direct contact – initiated by ARCHIMED – to founders Lynn Fischer and Kent Kirimli, via ARCHIMED’s proprietary MedDiscover® platform. Founders and management of Title 21 will retain a significant minority stake. ARCHIMED is making the investment through its MED III fund, which closed on €650 million in August, after only two months of fundraising.
Founded in 2001 and named after the regulatory code governing the food and drug industries in the United States, Title21 is the world’s largest and most highly specialized provider of paperless electronic services to cell & gene therapy labs. Title21’s clients include globally preeminent hospital and research institutions, including the Mayo Clinic, Memorial Sloan Kettering Cancer Center, Stanford University, Kaiser Permanente, and the University of Pennsylvania Health System. The fast-growing cell & gene therapy industry is transforming the treatment of life-threatening conditions including genetic disorders such as spinal muscular atrophy, as well as diseases caused by vital infection, including COVID-19. McKinsey & Company estimates that only 20 percent of cell & gene therapy labs are currently digitized.
“Title21 is clearly the best candidate to accelerate digitization in the cell and gene therapy space, not just in the US, but globally,” says ARCHIMED Founding Partner Vincent Guillaumot. “Title21’s technology is the most advanced in the world when it comes to ease-of-use, scalability and breadth of offering. As part of this new partnership, we’ll leverage long-established relationships with US hospital groups, accelerate the group’s research and development and help Title21 expand rapidly in Europe and Asia.”
ARCHIMED can more than double its investment in Title21 to support growth. It’s also appointing three C-Suite executives to the board, Peter Bailey, Brian Smith and Dan Drawbaugh. Both Bailey and Smith are part of ARCHIMED’s MedTalents®, a global network of ARCHIMED-associated senior healthcare executives who identify, facilitate and advise on deals and counsel portfolio companies. Bailey was the former CEO of LabVantage and currently sits on the Board of Xybion, a prominent laboratory information management software company. Smith, an Operating Partner at ARCHIMED, is currently the Chairman and CEO of ARCHIMED-owned Ad-Tech, which makes minimally invasive brain electrodes featuring ease of use and connectivity. Drawbaugh is currently CEO of the Steadman Clinic, and formerly CIO at the University of Pittsburgh Medical Center.
“Specialized software continues to penetrate the healthcare space to optimize workflows. We can leverage both our software knowledge and expertise in cell and gene therapy to support Title21’s next phase of growth.”
Vincent Guillaumot, Managing Partner
MED III invests in small-cap healthcare sectors in Europe and the Americas, partnering with owners and managers. The fund’s other investments are Cardioline and Corealis Pharma. The latter provides outsourced formulation development and manufacturing of tablets, capsules and granules for preclinical and clinical trials.