Pharma Insight Co NHiS Sold to Wilmington Group

Seven managers of pharma market intelligence and insight specialist NHiS have sold the company to business information and training organisation Wilmington Group, for a possible total sum of £9.35m.

Founded in 2007, NHiS (NHS Insights) provides business intelligence, data analysis, workflow tools and other services to pharma companies in the UK. For its last fiscal year, the firm reported a 45% increase in revenue to £1.8m, and profits before tax and nonrecurring costs of £0.8m.

Following the transaction - which includes an initial cash consideration of £5.6m and a further consideration of up to £3.75m dependent on achieving certain targets - NHiS will become part of the Wilmington Healthcare Division, working closely with the group's Binley's Healthcare Information firm.

As part of the deal, the existing NHiS management team, led by founding MD Nick Merryfield, and Director Paul Midgley will remain with the business.

Charlie Brady (pictured), CEO of Wilmington Group, comments: 'NHiS is an innovative business that has built up a major business intelligence and technology capability in a complementary area where our own Binleys Healthcare Information continues to see good growth potential. We are particularly pleased that the existing highly experienced management team are joining the Wilmington Group and look forward to working with them as they continue to develop NhiS.'

Web sites: www.wilmington.co.uk and www.nhis.info .