BOSTON & SAN FRANCISCO–(BUSINESS WIRE)–Audax Private Equity (“Audax”), a leading alternative investment manager and capital partner for North American middle market companies, announced today it has completed the previously announced sale of CorEvitas, LLC (“CorEvitas”), a leading provider of regulatory-grade, real-world evidence (“RWE”) for approved medical treatments and therapies. Thermo Fisher Scientific Inc. (NYSE: TMO) (“Thermo Fisher”) acquired the company in a deal that closed on August 14, 2023.
Based in Waltham, MA, CorEvitas is a provider of real-world evidence, leveraging proprietary data to help pharmaceutical customers uncover clinical insights that lead to safer, more effective treatments and better patient care.
Audax invested in CorEvitas in December 2019. Over the past three and half years, Audax and management executed on an investment thesis to build an industry-leading platform in the RWE space through strategic M&A and de novo expansion into new therapeutic areas, capabilities, and geographies. Under Audax’ hold, CorEvitas completed the integration of five add-on acquisitions and launched six new syndicated clinical registries. The company also completed a comprehensive ERP implementation and onboarded key leaders across business development, finance, HR, and IT. The successful realization of the CorEvitas investment builds on Audax’ experience and track record in healthcare, one of the firm’s six core industry specializations.
Audax invested in CorEvitas through its sixth flagship fund. The firm has since completed fundraising for its successor, Audax Private Equity Fund VII, which closed on $5.25 billion in commitments earlier this year. Audax also raised $774 million for its debut lower middle market strategy, Origins Fund I, which combined with an additional $1.8 billion commitment from the Audax team, provides approximately $7.8 billion to deploy across the middle and lower middle markets.
About Audax Private Equity
Based in Boston and San Francisco, Audax Private Equity is a leading middle market investment firm with approximately $16 billion of assets under management, over 185 employees, and 85-plus investment professionals. Since its founding in 1999, the firm has invested in more than 160 platforms and 1,200 add-on acquisitions. Through our disciplined Buy & Build approach, across six core industry verticals, Audax helps portfolio companies execute on organic and inorganic growth initiatives that fuel revenue expansion, optimize operations, and significantly increase equity value. For more information, visit audaxprivateequity.com or follow us on LinkedIn.
Julie Rudnick / Catherine Livingston