Model N to acquire Deloitte’s Life Sciences pricing and contracting solutions business
Model N expects the transaction to close in late December 2020
Model N announced that it has entered into a definitive agreement to acquire Deloitte’s life sciences pricing and contracting solutions business and underlying technology.
Model N plans to acquire Deloitte’s life sciences pricing and contracting solutions business and underlying technology for $60 million in cash. Model N expects the transaction to close in late December 2020.
The acquisition broadens Model N’s portfolio to better serve a larger segment of the market from pre-commercial to the largest life sciences companies in the world. It also brings new life sciences customers, talent and intellectual property.
“We believe the acquisition of this business allows us to offer revenue management to the broader life sciences market. Deloitte’s cloud software and expert services solution is purpose-built to help companies scale from pre-commercial to billion-dollar enterprises. Model N has not historically gone after the pre-commercial segment so this is an exciting addition to our total addressable market,” said Jason Blessing, President and CEO of Model N.
More financial details of the transaction will be provided on Model N’s first-quarter fiscal year 2021 earnings conference call after the transaction has closed.