Instem Swoops for Market Leader Logos

Instem plc, a leading provider of IT applications to the global early development healthcare market, has acquired Logos Holdings Ltd along with its subsidiaries Logos EDC Solutions Ltd and Logos Technologies Inc (“Logos”) for a consideration of up to £5m.

The acquisition represents a strategic move by Instem into the early phase clinical market, with the company expecting to enhance earnings in the first full financial year of ownership.

Logos’ ALPHADAS® software suite is the market leading, e-source data capture system and site automation software suite for early phase clinical studies.  With very little overlap between the two customer bases, there will be opportunity for cross-sale, whilst Logos will also benefit from Instem’s global sales and marketing capability.

James Sheridan, Andrew Sturge, David Hayes and Simon Weinberg from Turner Parkinson advised Instem on the transaction.  They worked alongside Neil Mitchell and Alex Wilson at corporate finance firm Rickitt Mitchell and Adrian Gare of Diagnostic Capital, with Gary Houghton leading a team at Baker Tilly who advised on financial due diligence.

Phil Reason, CEO of Instem plc, commented: “This earnings-enhancing acquisition is an important part of our growth strategy. Logos’ ALPHADAS® suite is an acknowledged leader in the early phase e-source data capture industry and the integration of the business expands our product portfolio, increases our market opportunity and provides avenues for additional cross-sales of our Provantis and Centrus suites. We are delighted that the talented team at Logos will be joining the Instem group and we look forward to working together to provide valuable automation tools to enable our clients to bring new products to market quickly and cost effectively.”