By Liisa Vexler
In an effort to bolster its capabilities in the life sciences sector, information technology consulting company Perficient purchased BioPharm Systems, an information technology consulting company specializing in the life sciences area. Perficient, whose clients are Global 2000 and other big business entities in North America, acquires Biopharm Systems’ $15 million a year in services revenue, bringing its revenues to close to $450 million a year.
Jeffrey Davis, Perficient president and CEO explained the acquisition, “We’re excited to add to our industry capabilities with the acquisition of a reputable and growing life sciences consulting firm. With the addition of BioPharm Systems, Perficient has strengthened our ability to create even more powerful management and IT consulting solutions for our healthcare and life sciences customers. Furthermore, BioPharm Systems brings impressive bill rates and margins, important intellectual property assets and a proven track record of growth, profitability and client satisfaction.”
For Perficient, adding BioPharm Systems to its portfolio expands its expertise, adding a dedicated life sciences vertical which boosts its existing solutions centered on management of clinical trials, clinical data management, and safety. The move also strengthens Perficient’s capabilities with Oracle’s Health Sciences applications and adds more than 50 professionals in consulting, technology, sales, and support. Finally, the acquisition adds existing client relationships with leading businesses including, but not limited to, Bayer, CR Bard, Halozyme Therapeutics, Ikaria, Johnson & Johnson, Medtronic, Pfizer, St. Jude Medical, Stryker, and Sunovion.
Alex Sefanov, BioPharm Systems president and CEO, will join Perficient in an undisclosed key leadership role. The transaction is worth an estimated $17.6 million made up of approximately $11.4 million in cash and approximately $6.2 million in Perficient common stock.