For Immediate Release
November 16, 2009
CambridgeSoft Announces Investment by Health Evolution Partners and Goldman Sachs
New investment allows expanded services to life sciences market
CambridgeSoft Corporation announced today that it has completed a private equity investment by Health Evolution Partners and a follow-on investment by Goldman Sachs. CambridgeSoft is a leading supplier of discovery, collaboration, and knowledge management research IT enterprise solutions, desktop software, scientific databases and consulting services for the pharmaceutical, biotechnology, and chemical industries.
Health Evolution Partners Chairman David J. Brailer, M.D. PhD, said, “Pharmaceutical and biotechnology companies increasingly rely on information technology to create new therapies. We are enthusiastic to be part of CambridgeSoft, the leader of that change.” In connection with the investment, Adam Grossman will represent Health Evolution Partners on the CambridgeSoft Board of Directors.
“I am delighted to work with Health Evolution Partners to expand CambridgeSoft,” said Michael G. Tomasic, President and CEO of CambridgeSoft. “Their involvement underscores a continuing commitment to innovation, high growth and financial excellence for the company and its future of serving the life sciences industry’s growing need for outsourcing of software and service for research IT.”
Raheel Zia, vice president of Goldman Sachs, will continue serving on the Board, based upon Goldman Sachs’ original investment in 2008. Mr. Zia stated, “CambridgeSoft continues to be a market leader with strong financial performance, a superior platform that streamlines the research and development lifecycle, and a focused and experienced management team.”
CambridgeSoft noted its software as a service (SaaS) cloud computing offerings have continued to gain broad customer acceptance, beyond their initial launch almost five years ago. Users of CambridgeSoft’s ChemBioOffice Cloud benefit by joining a growing community of customers who share infrastructure and IT costs, resulting in lower management overhead, little up-front investment and immediate access to the full range of the latest, scientist-tested ChemBioOffice Enterprise applications.
“Staffing and running an IT department is not core to the research activities for a growing number of today’s life sciences and chemical companies,” adds Mr. Tomasic. “CambridgeSoft’s ChemBioOffice Cloud provides customers of all sizes with a personalized approach to cloud computing, allowing them to create individually crafted solutions that achieve the flexibility needed to meet the changing demands of today’s competitive business environment -- while also maintaining data security, system reliability and confidence.”
CambridgeSoft is a leading provider of software and services for discovery, analysis and collaboration to the life sciences and chemical industries, academia and government. Its integrated product suite improves the productivity of researchers in the discovery, development and commercialization of chemical and biological compounds. Products include Cloud, Enterprise, Workgroup and Desktop versions of Chem & Bio Office, including Chem & Bio Draw and E-Notebook, providing knowledge management, chemical and biological informatics, and scientific database solutions. Web sites include ChemBioFinder.Com and ChemBioNews.Com for indexed database content and news, and SciStore.Com for e-commerce.
CambridgeSoft has offices in the United States, Europe and Asia. For information about CambridgeSoft products, services, and sales worldwide, please visit www.cambridgesoft.com, or call 1 617 588-9300 in America, 00 800 875 20000 in Europe or 0120-146-700 in Japan.
About Health Evolution Partners:
Health Evolution Partners invests across the health care industry, from mid- to late-stage companies to buyouts and from services to technologies. Health Evolution Partners invests in companies it views as leaders in the new era of value-based, cost-effective and consumer-driven health care. For more information on Health Evolution Partners, visit www.healthevolutionpartners.com.
About Goldman Sachs:
The Goldman Sachs Group, Inc. is a leading global financial services firm providing investment banking, securities and investment management services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in London, Frankfurt, Tokyo, Hong Kong and other major financial centers around the world.