Partnership accelerates innovation and adoption for data collection powerhouse and social platform for 800,000+ physicians globally
New York, New York — SERMO, the leading global social platform for physicians and largest healthcare professional survey company, announced today that it has completed a recapitalization with Abry Partners (“Abry”), a leading Boston-based private equity firm. The investment will allow the company to significantly accelerate its growth strategy, including the upcoming launch of a new member experience that will drive impactful peer-to-peer collaboration & discussion amongst member physicians as well as enhanced automation and tooling for the healthcare market research industry.
“SERMO is committed to transforming traditional methods of physician collaboration and healthcare data collection to meet the needs of today’s fast paced healthcare ecosystems. Using a tech-first approach, we’ve led SERMO to double-digit growth and transformed the company from a services provider to a solutions platform,” said Peter Kirk, CEO of SERMO. “This milestone with Abry recognizes the continued support from both the financial community as well as our longstanding customers to continue our mission to connect the global medical community with industry partners to foster innovation through meaningful insights and data. With a new leadership team and board of directors, backed by our unique global platform, we look forward to a successful future.”
SERMO is the most trusted global platform for physicians with over 800,000 members, representing over 90 specialties and subspecialties in over 150 countries. In 2012, SERMO merged with WorldOne, a leader in healthcare market research, to form the world’s first global medical social platform with a tech-first approach to market research ahead of the digital health revolution.
SERMO clients can expect to see new product launches, differentiated technologies, physician membership growth in key specialty areas, as well as an even greater focus on client-centricity as a result of this investment.
“We’re excited to partner with SERMO as they continue to empower the healthcare industry with the tools needed to digitally collaborate with peers and improve patient outcomes,” said John Hunt, Managing Partner at Abry. “SERMO’s strong revenue growth and increase in users speaks to how they’re setting a new and improved standard for real-time medical collaboration and insights, and we look forward to supporting their continued innovation.”
SERMO will join Abry’s portfolio of investments in leading companies focused on healthcare IT services, insurance services, and business and information services. Prior healthcare investments include Executive Health Resources, Healthport, HealthTrans and U.S. Dermatology Partners.
Marlin & Associates acted as exclusive financial advisor and Taylor Wessing acted as legal advisor to SERMO. Ernst & Young (“EY”) and Chestnut Hill Partners acted as financial advisor and Kirkland & Ellis LLP acted as legal advisor to Abry.
About SERMO
SERMO is a global social platform for physicians that fosters impactful peer-to-peer collaboration & discussions through meaningful insights, data, and trends. It is the most trusted global platform for physicians with over 800,000 fully verified and licensed physicians across 150 countries. The platform enables doctors to anonymously talk real-world medicine, review treatment options via our proprietary Drug Ratings platform, collectively solve patient cases, and earn honorarium from surveys. Through SERMO’s unique community, pharmaceutical and healthcare partners can drive physician awareness and gain deep understanding of brand perceptions to benefit the medical community at large. To learn more, visit www.sermo.com.
About Abry Partners
Abry is one of the most experienced and successful sector-focused private equity investment firms in North America. Since their founding in 1989, the firm has completed over $80 billion of leveraged transactions and other private equity or preferred equity placements. Currently, the firm manages over $5.0 billion of capital across their active funds. For more information about Abry, visit the firm’s website at: www.abry.com.
Contact
Niki Franklin
Racepoint Global
+1 617 624 3264