Under the terms, Zensar said will make an aggregate upfront payment of $14.0 million subject to customary adjustments for working capital, debt and cash on closing and additional payment upto $11.0 million by 31 December, 2027 contingent on achievement of performance and employment continuity thresholds.
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“This strategic move strengthens Zensar’s Healthcare and Life Sciences (HLS) vertical and expands its data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/pharma-commercial” target=”_blank” rel=”noopener”>pharma commercial and product launch expertise. The data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/definition/acquisition” rel=”noopener”>acquisition positions Zensar to offer a more comprehensive suite of solutions to pharmaceutical, biotechnology, and medical device companies,” Zensar said in a statement.
Pune-based Zensar Technologies, part of the $4.8 billion conglomerate data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/rpg-group” target=”_blank” rel=”noopener”>RPG Group, has a total services revenue at $591.3 million as on FY24 with the US contributing to 67.2% of the revenue share. In FY24, its HLS vertical’s share had declined to 9.6% from 10% in FY23. For the fourth quarter ending March, the HLS vertical had degrown by 6.4%.
“BridgeView Life Sciences brings a team of seasoned professionals with deep life sciences knowledge and a successful track record. This aligns perfectly with our vision to be a leader in the HLS space. BridgeView’s expertise in biopharma cloud CRM, information management, analytics, and program management combined with their established client base will significantly enhance our HLS offerings and accelerate our go‐to‐market strategy,” said Manish Tandon, CEO and managing director of Zensar Technologies.
Incorporated in March 2021, BridgeView (formerly known as COEUS Solutions) is engaged in the business of providing technology consulting and system integration services to biopharma and life sciences customers (services business). BridgeView also had a smaller data warehouse and data aggregation products business (i.e. product business) which has recently been divested.
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The data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/us-firm” target=”_blank” rel=”noopener”>US firm provides a range of advisory, transformation, and managed services exclusively for life sciences customers endeavouring to launch products or new indications, assess and optimize their operations, or engage in merger or acquisition transactions, Zensar further said. BridgeView’s revenue for calendar year 2021, 2022 and 2023 stood at $2.1 million (entirely services revenue), $7.5 million (services business revenue at $7.3 million and $12.9 million (services business revenue at $11 million), respectively.
Zensar’s global reach and digital expertise will help us offer more solutions and reach a wider audience. This synergy allows us to address customers’ transformational programs effectively, improving patient lives faster,” said James Corbett, co‐founder and COO, and Mihales Karasavas, co‐founder and CCO of BridgeView data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/life-sciences” target=”_blank” rel=”noopener”>Life Sciences, in a joint statement.
