CIBC Innovation Banking announced today that it has provided credit facilities to support MediSpend’s acquisition of Real Life Sciences (“RLS”), a leading provider of advanced anonymization and redaction solutions for clinical trial data. Backed by Susquehanna Growth Equity (“SGE”), MediSpend provides commercial compliance solutions for the largest pharmaceutical, medical device and dental companies as well as emerging biotech companies across the world.
“CIBC Innovation Banking has been a great to work with over the years and having a collaborative relationship is critical,” said Leigh Powell, Executive Chairman of MediSpend. “By working with CIBC Innovation Banking to complete the acquisition of Real Life Sciences, we are able to expand our product suite into R&D around clinical trial data compliance and create a comprehensive GRC platform to continue to support our life sciences customers.”
“We are thrilled to support SGE and the MediSpend team in the acquisition of RLS, enabling the company to deliver cutting-edge solutions that ensure compliance, protect participant privacy, and drive transparency in clinical trials," said Oleg Dudchenko, Executive Director, CIBC Innovation Banking. “This strategic move underscores MediSpend’s commitment to advancing compliance and transparency in the life of sciences sector.”
About CIBC Innovation Banking
CIBC Innovation Banking delivers funding, strategic advice, and cash management to innovation companies across North America, the UK, and select European countries at each stage of their business cycle, from start up to IPO and beyond. With offices in San Francisco, Menlo Park, New York, Toronto, London, Austin, Boston, Chicago, Seattle, Vancouver, Montreal, Atlanta, Reston, Durham and Denver, the team has extensive experience and a strong, collaborative approach that extends across CIBC’s commercial banking, private banking, wealth management and capital markets businesses.
About MediSpend
MediSpend's best-in-class solutions empower life sciences companies to grow their business compliantly through top-rated solutions and client services. MediSpend provides commercial compliance solutions for the largest pharmaceutical, medical device and dental companies as well as emerging biotech companies across the world. MediSpend is headquartered in Portsmouth, N.H., with offices in Minnesota, New York, Pennsylvania and the Netherlands. Visit MediSpend online at www.medispend.com .
About Susquehanna Growth Equity
Susquehanna Growth Equity ("SGE") is an entrepreneur-centric growth equity fund with flexible capital and time horizons. SGE is exclusively focused on growth-stage software, services, internet, and information services companies. The firm has invested over $4 billion in 100+ market-leading technology and services companies over the last 18 years and has portfolio companies across the US, Canada, Europe, and Israel. SGE is backed by a unique and patient source of capital, enabling the firm to give entrepreneurs and management teams freedom and flexibility to maximize growth. To learn more, please visit www.sgep.com .
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Deborah Rowe, deborah.rowe@cibc.com , 416-586-7019
