(Photo by Tony Abraham)
Center City-based IntegriChain, which provides data services to pharma companies such as Merck and Sanofi, announced Monday that it had acquired Tennessee-based healthcare consulting and services firm Cumberland’s Life Sciences Division.
IntegriChain initially moved to Philly five years ago from Princeton, and in 2016, came under new ownership, with Silicon Valley based Accel-KKR. The acquisition of Cumberland marks the fourth expansion since IntegriChain entered its strategic partnership with Accell-KKR, the Philly company said.
“With this acquisition, IntegriChain delivers the life science industry’s most comprehensive and scalable data and business process platform for commercialization and market access of cell and gene therapy, specialty and retail pharmaceuticals,” the company said in a statement.
Jeff Lee, former managing partner of the Life Sciences Division of Cumberland, will now serve as IntegriChain’s senior VP, and all of Cumberland’s life sciences leadership and roughly 140 employees will move under IntegriChain. The merged workforces now include about 350 people, including 120 contract operations and finance specialists and 80 advisory and systems integration consultants. Cumberland employees will not be ask to relocate to Philadelphia.
The companies said that customers should expect “no changes or interruptions to the delivery of their solutions and servicing of their accounts.”
An IntegriChain spokesperson said that the company will now provide managed services for rebate adjudication, government pricing and gross-to-net financial operations for more than 150 manufacturers. And between the two companies, they’ve supported 73 pharma launches — or 71% of all such launches in the United States — over the last two years, including 35 for younger biotech companies introducing their first pharma product.
IntegriChain cofounder and CEO Kevin Leininger said that the company will deliver the industry’s “first and only data and managed services platform that unifies all of the critical business functions for commercialization and market access” like contracts and pricing, gross-to-net, channel and patient services.
“As a result of this transaction, we are uniquely positioned to address critical therapy access challenges and ensure patients have access to specialty and precision medicines,” Leininger said.
Under terms of the agreement, IntegriChain has acquired all assets of the Life Sciences Division of Cumberland and moving forward, Cumberland will continue to serve the payer and provider markets by delivering healthcare advisory consulting services, technology services and outsourced managed services, the company reported.
The IntegriChain spokesperson said that both entities had worked over the last month to integrate the teams, and are doing so remotely as the coronavirus pandemic continues.
While IntegriChain said it used investment banking company Lincoln International as a financial advisor, the company didn’t disclose monetary details of the deal.
Thanks @AccelKKR for your support as we continue to grow our company and deliver on our promise to the Life Sciences industry to help solve their access challenges from operations to insights. https://t.co/Eob112g84a
— IntegriChain, Inc. (@IntegriChain) April 13, 2020
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