Wilmington plc has acquired Evantage Consulting Ltd, a UK-based provider of specialist Healthcare and Pharmaceutical Analytics solutions.
Wilmington, through its healthcare analytics subsidiary NHiS, has partnered with Evantage for over five years. The acquisition will sit within Wilmington’s Insight division.
Wilmington is paying an initial £1.4m with a deferred cash consideration of up to £4.6m by 2020 based on profit based targets.
In the year to 31 October 2015, Evantage reported revenues of £1.1 million and profits before tax of £0.9 million. Gross assets were £1.2 million.
Commenting on the acquisition, Pedro Ros, Chief Executive Officer of Wilmington, said: “I am delighted to welcome Evantage to Wilmington. With this addition to our Group we advance one of our strategic objectives of building our competency in healthcare analytics which will allow us to be even better placed to deliver our clients the insight they need to optimise their businesses.”
Evantage was established in 2001 by Julian Snape and Chris Wiggins to provide outsourced analytics and resource optimisation solutions for the UK pharmaceutical industry. Snape and Wiggins will continue in the business post acquisition.
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