(Bloomberg) -- Envision Pharma Group's private equity owners are considering a sale of the medical communications company in a deal that could value the business at more than $500 million, people with knowledge of the matter said.
Ardian SAS and GHO Capital are speaking with advisers about the potential divestment after receiving approaches from suitors, according to the people, who asked not to be identified because the information is private. They could kick off a sale process later this year, the people said.
The health-care industry has been a bright spot for dealmaking at time when the coronavirus has been hampering mergers and acquisitions globally. U.S. buyout firm Warburg Pincus said last week it bought a stake in French biotechnology company Polyplus-Transfection SA. In April, Canada's Onex Corp. said it would acquire medical staffing provider Independent Clinical Services.
No final decisions have been made, and Envision Pharma's owners could decide to keep the business for longer, the people said. A spokesperson for Ardian declined to comment, while representatives for GHO and Envision didn't immediately respond to requests for comment.
Envision Pharma, founded in 2001, helps medical affairs teams manage projects, publications and data. It has 10 offices globally and employs around 450 staff, according to Ardian's website.
Paris-based Ardian and health care-focused GHO acquired the company from Halifax Group in 2016.
©2020 Bloomberg L.P.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
