Model N announces Deloitte’s Life Sciences solutions business buyout

  • This acquisition is expected to expand the company’s portfolio to well serve a larger segment of the global market.
  • The transaction deal has been valued at USD 60 million in cash.
  • The pact is expected to reach conclusion by the end of 2020.

The global healthcare and medical fraternity is undergoing a massive transformation of late, allowing various companies operating in the industry to engage in M&As in an effort to gain a major impetus in the overall market. In one such instance, a pioneer in cloud revenue management solutions, Model N, has reportedly announced acquisition of Deloitte’s life sciences contracting and pricing solutions business and fundamental technologies. The transaction for this acquisition has been reported to be valued at about USD 60 million in cash.

Apparently, this acquisition is expected to bolster the company’s product portfolio to serve a larger segment of the market ranging from new market entrants to the largest life sciences companies in the world. Moreover, this would also bring new life sciences talent, customers, and intellectual property that would complement Model N’s robust consumer base and market leading offerings.

Commenting on this initiative, Jason Blessing, President and CEO of Model N quoted that the company is elated to welcome the Deloitte’s life sciences pricing and contracting solutions team onboard. The company believes that this acquisition would allow it to offer revenue management to the broader life sciences industry.

He also stated that Deloitte’s cloud software and expert services products are built to support companies to scale up from pre-commercial to a billion dollar business, and this would indeed help Model N to move a step ahead in the overall market space.

As per credible reports, Model N anticipates the transaction to conclude by late December 2020 and to have no contribution to its Q1 2021.

Source Credit:  https://www.businesswire.com/news/home/20201217006129/en/Model-N-to-Acquire-Deloitte%E2%80%99s-Life-Sciences-Pricing-and-Contracting-Solutions-Busines