Nordic Capital, Astorg, and Novo Holdings A/S to invest in ERT for future growth

Building on ERT's leading technology platform and reputation for operational excellence, the new broadened ownership group, together with management, will invest in the continued development of the business with the aim of further expanding operational capabilities and selectively pursuing add-on investments to support future growth.

ERT is a U.S. headquartered global clinical trial technology company, providing clinical endpoint data collection, predictive analytics, and real-world evidence solutions to aid in drug development. The Company offers a compelling combination of technology, services, and clinical expertise, helping their customers to deliver successful outcomes, by ensuring high quality data-capture, reduced costs, and shortened study timelines. With more than 40 years of clinical and therapeutic experience, ERT has supported more than 50% of all FDA drug approvals in the U.S. over the last 5 years, during which time it has worked with over 5 million patients around the world.

Following Nordic Capital and Novo’s investment in 2016, ERT has grown significantly, having doubled revenue through a focus on operations, as well as strategic add-on acquisitions to expand capabilities.

Raj Shah, Partner and Co-Head of Healthcare at Nordic Capital, stated: “Since Nordic Capital’s investment in 2016, we have been very pleased by the investments made and the development of ERT, as a trusted healthcare service partner and a leading healthcare technology provider. We are excited about the opportunity to continue Nordic Capital’s investment in ERT in partnership with Astorg and Novo." Jonas Agnblad, Partner and Co-Head of Healthcare at Nordic Capital, added: “We are extremely excited to continue Nordic Capital’s journey with ERT and partner with Astorg and Novo who share our vision of building the leading clinical trial technology company.”

Judith Charpentier, Partner and Head of Healthcare at Astorg, commented: “We have been actively monitoring developments in the eClinical space, and in particular at ERT, for many years, and have been very impressed by their proven ability to drive innovation in clinical trials, ensuring a safer and more efficient drug development process.” François de Mitry, Managing Partner at Astorg, added: “ERT represents a strong fit with Astorg’s strategy of investing in differentiated leading global B2B players headquartered in North America and Western Europe. We are delighted to partner with Nordic Capital and Novo and look forward to working closely with management to support growth and further reinforce ERT’s established industry position.”

Christoffer Søderberg, Senior Partner at Novo, added: “ERT is a great company, and we’ve been impressed with its ability to develop innovative solutions that improve the speed and efficiency of clinical trials. We look forward to continuing our investment alongside Nordic Capital and Astorg.”

“Astorg’s investment validates the growth strategy we embarked upon with Nordic Capital and Novo, the capabilities of our team, and the value we deliver for our customers every day. This broadened ownership supports our development plans and deepens our service offerings, helping us better meet the evolving needs of our customers”, said Jim Corrigan, President and Chief Executive Officer of ERT.

Following Nordic Capital’s initial investment in ERT through Fund VIII, Nordic Capital will re-invest alongside Astorg and Novo through Fund IX.

Financial terms of the transaction were not disclosed, with completion of the transaction remaining subject to satisfactory clearance from relevant anti-trust authorities.