Mubadala joins investor group to acquire stake in Envision Pharma

The consortium was led by Europe-based specialist healthcare investor GHO Capital Partners

Mubadala Investment Company will be investing in Envision Pharma Group. Alamy

Mubadala Investment Company joined a consortium of investors on Thursday to invest in health tech firm Envision Pharma Group in an effort to diversify its portfolio.

Europe-based healthcare investor Global Healthcare Opportunities (GHO Capital Partners) consortium of investors, headed by Mubadala Investment Company, also included global private equity investment firm HarbourVest Partners and the US-based financial services firm Northwestern Mutual, Mubadala said in a statement.

GHO Capital Partners, already an investor in Envision, has further increased its stake in the company following this deal.

It did not give further details about the transaction.

“Having worked alongside GHO for 4 years, we are delighted they have chosen to extend and deepen the partnership in a new investment cycle,” David Thompson, chief executive of Envision, said. “We see a clear commitment to expanding our reach across the healthcare services spectrum, most notably in medical affairs, with the ultimate goal of enhancing physicians’ abilities to improve patient outcomes.”

France’s private equity firm Ardian exited its investment in Envision following the group's investment, Mubadala said.

Founded in 2001, Envision helps biopharmaceutical and medical device companies commercialise new compounds through medical strategy, strategic publications planning, and medical communications delivery. The company employs 800 people across 14 offices with its global reach extending to Australia, Japan, Serbia, and Hungary.

GHO was advised by Ropes & Gray and Alvarez & Marsal on the deal while Envision was advised by Irwin Mitchell and EY.

“We will be partnering with a team who already has a deep understanding of both the healthcare sector and our business.. and can positively contribute to our new 5-year business plan,” Brian Hepburn, co-chairman and founder of Envision, said.

Mubadala is looking to boost its investments in companies which specialise in technologies related to the healthcare sector. It recently announced an investment of €250 million ($296m) in drug discovery and development firm Novotec along with Denmark-based Novo Holdings.

Mubadala will invest €200m to subscribe to about 5.6 per cent of Evotec's outstanding shares, the company said last month.