Nordic Capital Considering Sale of ERT
(Bloomberg) -- Buyout firm Nordic Capital is considering a sale of health-care data collection company ERT Operating Co., people with knowledge of the matter said.
Nordic has held talks with potential advisers about strategic options for Philadelphia-based ERT, said the people, who asked not to be identified because they weren't authorized to speak publicly. ERT could fetch about $2.5 billion in a sale, one of the people said. Nordic hasn't made a final decision on whether to pursue a sale and could still elect to keep the business, they said.
A representative for ERT referred request for comment to Nordic. A spokeswoman for Nordic, with offices including Stockholm, declined to comment.
Nordic agreed to buy ERT from peer Genstar Capital in March 2016 in a deal that valued the company at about $1.8 billion. The company, which provides patient data collection solutions for use in the development of clinical pharmaceutical products, has grown via acquisitions including Biomedical Systems Corp. and iCardiac Technologies Inc. in 2017, according to its website.
Nordic, which is led by Managing Partner Kristoffer Melinder, has invested about 13 billion euros ($14.7 billion) since being founded in 1989. The company also owns stakes in air-treatment firm Munters Group AB and consumer loans and deposits company Nordax Group AB, according to its website.
To contact the reporters on this story: Kiel Porter in Chicago at kporter17@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.net
To contact the editors responsible for this story: Elizabeth Fournier at efournier5@bloomberg.net, ;Alan Goldstein at agoldstein5@bloomberg.net, Michael Hytha, Matthew Monks
©2019 Bloomberg L.P.
-
Talking Points This Week: Tech Nerves, FII Buying, And A Faraway Banking Shock
The global markets are not shining this Diwali. The exception in the large markets is, India.
-
Midterm Rally Lasted A Day. The Hard Reality Of A Divided US May Last Two Years | Opinion
Between a contested AI boom, a debt ceiling that arrives in 2027 and a president with every incentive to act alone, the next two years may prove more volatile than the first day's rally suggests.
-
Blue Wave Will Derail the AI Trade but Won't Dismantle the AI Era | Unhedged Position
The Democrats' sweep of the US Congress will see politics collide with economic forces both over the long and short term.
-
It's Time To Take The GST Council's Bet On Trust Global
Payment records can prove India's services exports, and clear, proportionate rules can bring foreign digital sellers into the tax net.
-
Opinion | India at 38: From Innovation Overperformer to Innovation Powerhouse
India now has 453 VC-backed deep science startups, 18 of them late-stage, after 117 percent growth since 2020. Laurus Labs, at USD 9.3 billion, is the most valuable deep science company in any middle-income economy outside China.
-
Navigating Energy Crossroads: S Jaishankar's Call For Diversified Supply Chains At G20 Ministerial Meeting
As geopolitical fault lines continue to test maritime trade routes and commodity flows, Jaishankar's message remains pertinent: true economic resilience requires open markets, protected transit lines, and a genuine commitment to multilateral cooperation rather than coercion.
-
Indians Are Travelling, But Not Every Journey Is A Holiday | The Week In Whys
Pilgrims, patients and working women are the real travellers, and the system hasn't quite caught up with them.
-
Getting To Work Costs Women More | The Reason Why
It is not just about women paying more than men. It is about women paying much more in cities than in villages.
-
AI Bias In Investing Cannot Be Eliminated, But It Can Be Governed
Framing is a particularly important example as identical financial information presented in terms of gains rather than losses can lead an LLM to reach a different assessment.
