InVentiv Health, a provider of clinical, commercial and consulting services to the healthcare industry and a portfolio company of Thomas H. Lee Partners, announced today that it has acquired Kazaam Interactive, a provider of marketing services for healthcare agencies and brands. The acquisition of Kazaam Interactive will be funded with equity from Thomas H. Lee Partners (THL) and other existing stockholders. THL, along with Liberty Lane and other co-investors, acquired inVentiv in August 2010.
Kazaam Interactive is a digital marketing agency offering strategy and services to brands and organizations. The company has worked with over sixty of the world’s largest brands and allows the use of online channels to connect brands, organizations and customers. The company is based in Newtown, PA (www.kazaamweb.com).
InVentiv Health is a provider of clinical, commercial and consulting services to companies in the healthcare industry. Customers include more than 550 pharmaceutical, biotech and life sciences companies. The company has more than 13,000 employees in 40 countries and is based in Somerset, NJ (www.inventivhealth.com).
“Demand for digital and social media solutions has expanded rapidly among our clients as physicians, patients and payers have grown more technically savvy,” said Paul Meister, CEO of inVentiv Health. “Kazaam Interactive helps us to meet this growing demand with digitally-based programs that have been proven to deliver value. The combination of Kazaam’s cutting-edge technology with inVentiv Commercial’s broad expertise in healthcare public relations and communication will result in fully-integrated and powerful solutions for our clients.”
Thomas H. Lee, founded in 1974, is one of the oldest private equity investment firms in the United States. Industries of interest include business and information services; consumer products and retail; financial services; health care; industrial; and media & communications. Since its founding, THL has raised approximately $20 billion of equity capital and invested in more than 100 businesses with an aggregate purchase price of more than $150 billion. The firm is based in Boston, MA (www.thl.com).
“inVentiv is well-positioned to capture additional market share through its range of products and services,” said Todd Abbrecht, Managing Director of THL. “THL’s equity funding for the Kazaam acquisition reinforces our commitment to working with the senior leadership team at inVentiv to strengthen its position as a best-in- class global pharmaceutical services company. We will continue to work closely with the company to develop additional opportunities to maximize the global market opportunity for their expanded service offering.”
