Inflexion invests in Phlexglobal
Inflexion Private Equity, the mid-market private equity investor, today announces that it has completed the buyout of Phlexglobal, the market leading healthcare support services company.
Established in 1997, Phlexglobal delivers a specialist service across the pharmaceutical, biotechnology, medical device and healthcare industries. The company offers a support service for all administrative and operational aspects of the clinical trial process, ranging from document management, and pre and post inspection support to tracking systems support, archiving and training.
Phlexglobal’s main area of expertise is in the management of Trial Master Files (TMFs). A TMF is the collection of all of the essential documents involved in a clinical trial required to demonstrate the compliance with the applicable regulatory requirements. In 2006, Phlexglobal developed its own electronic system, or eTMF, called PhlexEview, which combined with the related services of scanning and archiving, is now the principal thrust of the business.
Employing c.200 people in the UK and US, Phlexglobal has relationships with most of the top ten global pharmaceutical companies. The pipeline is impressive, including many of the remaining top fifty.
Richard Swann, Investment Director at Inflexion Private Equity commented: “Phlexglobal operates in an interesting niche market and is an excellent example of the type of business that Inflexion seeks to invest in, offering a superior service and product to its customers. We look forward to working with the experienced management team to drive further growth in the company.”
Kevin James, Chairman of Phlexglobal commented: “There is absolutely no doubt in my mind that the outsourcing market for pharmaceutical R&D will continue to grow significantly and the eTMF sector will follow that trend set by electronic data capture for patients. Phlexglobal, with its unique software and service model, will remain at the forefront of this evolving part of the market. Inflexion is a great partner to work with, for the next stage of our growth”
Richard Swann, Nicola Boydand Charles Thompson led the transaction at Inflexion, with Richard and Nicola both joining the Board as Non Executive Directors.
In addition to this new investment, Inflexion continues to grow its team and is pleased to welcome Edward Fraser to the team, as Investment Executive.