JULY 10 2024
Combined entity bolsters expertise to help Pharma optimize commercial performance in the face of mounting regulatory and commercial pressures on net revenue
PHILADELPHIA, July 9, 2024 /PRNewswire/ -- IntegriChain, delivering pharma's comprehensive technology, data, consulting, and outsourcing platform for data-driven commercialization, today announced the acquisition of Federal Compliance Solutions (FCS), a leading Pharma advisory and managed services firm. This transaction creates the industry's deepest team of experts in government pricing and payer/provider contracting, areas that have simultaneously become more outsourced in Pharma and the focus of significant regulatory and commercial changes. The combination builds on the technology, people, and process capabilities that the two firms have developed to help the industry develop more profitable drug commercialization strategies, drive more profitable daily business decisioning, and improve net revenue controls around growing price concessions to payers, providers, and channels.
"As drug pricing and reimbursement have grown increasingly complicated, more and more Pharma manufacturers have embraced outsourcing options where service providers perform price calculations and adjudicate rebates and chargebacks on their behalf," said Josh Halpern, CEO of IntegriChain. "This is a dynamic market with rapidly changing regulations, vertically integrating ecosystems, and increasingly diverse drug archetypes. IntegriChain and FCS together support more than 200 manufacturer's contracts and pricing, gross-to-net, channel, and data operations with outsourcing solutions. We know that the success of the outsourcing model rides on delivering differentiated expertise to our customers, and doing so proactively. That's hard to do without depth. We welcome FCS to our extensive organization of more than 200 experts across our Strategy Consulting, Advisory Services, SaaS & BPaaS, and Product & Technology – all of whom proudly represent the leading team focused on improving the profitability of drug commercialization."
"Now more than ever, Pharma companies need a trusted partner – both to guide commercialization decisioning as well as to drive technological efficiencies," said Rick Moore, Managing Partner of FCS. "FCS has proven its trusted status through our focus on domain knowledge and quality. IntegriChain has established itself as a proven data and technology innovator, combining forces with others to create a leading net revenue management outsourcing and consulting capability. We are excited to join IntegriChain's family and platform and look forward to our combined teams continuing to partner with Pharma manufacturers of all sizes and types and driving innovation in contracts & pricing and gross-to-net."
The companies plan to jointly advance their portfolio of solutions and consultative services for today's top commercial challenges, including increasingly complicated drug contracting, 340B's explosive growth, the Inflation Reduction Act's impact on pricing and reimbursement, and rapidly evolving drug distribution channels.
For the foreseeable, there will be no changes to IntegriChain's nor FCS's Advisory Services delivery teams, systems, or processes. In 2025, the combined company will work to integrate the Advisory Services and BPaaS offerings in the ICyte Platform, driving innovation to deliver best-in-class offerings.
Under terms of the agreement, IntegriChain acquired the equity of Federal Compliance Solutions LLC. The entire leadership and professional team will join IntegriChain's global workforce that spans nearly 750 professionals. This acquisition is IntegriChain's seventh expansion. Fairmount Partners acted as exclusive financial advisor to FCS.
About Federal Compliance Solutions
FCS, founded in 2017 by Pharma industry experts, is a leading life sciences consulting firm, specialized in helping pharmaceutical and biotech companies with strategies and solutions to optimize their government pricing, contracting, and gross-to-net revenue management. FCS's accomplished team of more than 60 professionals has extensive experience in a diverse range of government programs, SPTR, contracting, GTN, and FMV matters. FCS also supports pharmaceutical and biotechnology companies of all sizes with a wide range of day-to-day operational processes and ongoing compliance requirements through its managed services offerings, including government pricing calculating and reporting, rebate and fee services, VA support, FMV and BFSF support, and GTN forecasting and accrual management.
About IntegriChain
IntegriChain helps pharma manufacturers bring their science to market, ensuring patients have affordable, timely, and sustainable access to therapy. IntegriChain delivers Pharma's only data-driven commercialization platform — from strategy to operational execution. The Company's unique focus on data, technology, consulting, and outsourcing helps connect the commercial, financial, and operational dimensions of drug access and profitability. Through the ICyte Platform, IntegriChain enables pharmaceutical innovators to achieve better commercial outcomes by digitalizing daily and recurring business activities and by integrating data and operations across contracting, pricing, channel and distribution, and gross-to-net. IntegriChain is backed by Nordic Capital, a leading sector-specialized private equity investor with a broad portfolio in Healthcare and Technology, and is headquartered in Philadelphia, PA, with offices in Ambler, PA, and Pune, India. For more information, visit www.integrichain.com or follow on LinkedIn.
Contact
Jennifer Guinan, Sage Strategic Marketing, jennifer@sagestrat.com
About Nordic Capital
Nordic Capital is a leading sector-specialist private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested over EUR 25 billion in more than 145 investments. The most recent entities are Nordic Capital XI with EUR 9.0 billion in committed capital and Nordic Capital Evolution with EUR 1.2 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, the UK, the US, Germany, Denmark, Finland, Norway, and South Korea. For further information about Nordic Capital, please visit www.nordiccapital.com.
“Nordic Capital” refers to, depending on the context, any, or all, Nordic Capital branded entities, vehicles, structures, and associated entities. The general partners and/or delegated portfolio managers of Nordic Capital’s entities and vehicles are advised by several non-discretionary sub-advisory entities, any or all of which are referred to as “Nordic Capital Advisors.”
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