Exor strengthens its position in the healthcare sector. After recent investments in Philips, Institut Mérieux and Lifenet, the holding company led by CEO John Elkann has purchased, for around half a billion dollars, 10% of Clarivate, a company listed in London and New York that offers study results and scientific and academic research in various fields, including health.
Under the agreement with Clarivate, Exor will be able to increase its stake up to 17.5% of the capital. “We welcome with pleasure – explained the CEO of Clarivate, Jonathan Gear – Exor’s commitment to supporting our strategy as a long-term investor. I am encouraged by their vote of confidence, which reflects their esteem in our ability to deliver the solutions our customers rely on to achieve the world‘s greatest discoveries.”
The agreement also 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 to the Board – underlined Suzanne Heywood – our experience in building large companies and we look forward to helping Clarivate express its full potential to achieve ambitious goals”.
50% of Clarivate’s revenue comes from solutions and content for academic and government institutions. The main products in this area are ProQuest and Web of Science. ProQuest provides services and information for libraries, offering access to theses, digital books, journals, historical collections, government and cultural archives, as well as other aggregated databases. Web of Science is the main database with references and citations on scientific content consulted by academics and researchers all over the world. Among Clarivate’s customers there are also important universities.
The rest of the turnover comes from data, software and services for patents, trademarks and domains, and from databases and services in the medical field. Customers include major pharmaceutical and biotechnology companies that use Clarivate’s products to improve patient care outcomes and accelerate drug innovation and development.