Home » Exor invests 500 million in biomedical for 10% of Clarivate

Exor invests 500 million in biomedical for 10% of Clarivate

by admin
Exor invests 500 million in biomedical for 10% of Clarivate

Exor invests 500 million in biomedical for 10% of Clarivate

Exor continues to invest in the healthcare sector and biomedical technologies. After recent funding for Philips, Institut Mérieux and Lifenet, the company led by CEO John Elkann has purchased, for approximately $500 million, 10% of Clarivate, a company listed in London and New York that provides results of scientific and academic studies and research in various fields, including Health. According to what was reported by La Stampa, based on the agreement with Clarivate, Exor will have the possibility to increase its stake up to 17.5% of the capital. The Agnelli – Elkann family holding company built this 10.1% position over the course of a year through market purchases.

We are pleased to welcome Exor’s commitment to support our strategy as a long-term investor”, explained Jonathan Gear, CEO of Clarivate. “I am encouraged by their vote of confidence, which reflects confidence in our abilities to deliver solutions that our customers use to make the world‘s most important discoveries.” Furthermore, the agreement provides that Suzanne Heywood, chief operating officer of Exor and president of CNH Industrial and Iveco, will join the board of Clarivate starting from May. “We bring our experience building large companies to the board and are excited to help bring out Clarivate’s full potential to achieve ambitious goals.i,” Heywood emphasized. “Suzanne will bring with her a wealth of experience from various roles on the boards of large global companies, and her contributions will be invaluable as we continue to transform Clarivate into a leading global provider of information and knowledge. “.

See also  MSC launches cruises to Arabia

Clarivate closed 2023 with revenues of $2.6 billion, up 2.1% from 2022 at constant exchange rates. Half of Clarivate’s revenue comes from solutions and content for academic and government institutions, including ProQuest and Web of Science. The rest of the revenue comes from data, software and services for patents, trademarks and domains, as well as databases and services in the medical field, also used by leading pharmaceutical and biotechnology companies to improve patient care outcomes and accelerate innovation and the development of new drugs. Clarivate has a market capitalization of approximately $4.7 billion. Among the main shareholders of Clarivate, in addition to Exor, are the financial institutions Leonard Green and Partners, Clarkston Capital Partners and Impactive Capital.

You may also like

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy