Chennai, Aug 6 (PTI): TAKE Solutions, a domain intensive services provider in life sciences, on Friday said the company has entered into a definitive agreement with an affiliate of H I G Capital, a global alternative investment firm, with USD 45 billion of equity capital under management.

"Through this strategic alliance, an affiliate of H I G Capital will be acquiring 75 per cent stake of Navitas Life Sciences, a wholly-owned subsidiary of TAKE Solutions," a statement from the company said here. The acquisition would support the current management team in accelerating their growth and enabling TAKE Solutions to capture the future Navitas' growth potential, the statement said.

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Navitas Life Sciences delivers expertise in data sciences, and regulatory and safety solutions for large blue chip pharmaceutical and biotech clients across North America, Asia-Pacific and Latin America.

"We are delighted to partner with H I G in our mission to accelerate access to outstanding drug development outcome to people across the world by harnessing the power of technology and domain knowledge," vice-chairman of TAKE Solutions Srinivasan H R said.

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"H I G, with its global network and diverse experience across healthcare and life sciences, makes them an ideal partner to support Navitas' continued growth as a global next-generation CRO (contract research organisation)," he said.

H I G has an excellent track record of building businesses and creating shareholder value, so this partnership is crucial for TAKE and its shareholders, he said. Managing director of H I G Capital Camilo Horvilleur said, "The strength of Navitas' global platform, with delivery partners in the US and India, provide unmatched solutions for blue chip, global client base.

"We are excited to partner with Navitas' leadership team and highly dedicated employees...As technology becomes an integral part of drug development value chain, we expect Navitas to become an increasingly important strategic partner to life sciences companies," Horvilleur said.

"The transaction was expected to close in the fourth quarter of FY2021, subject to shareholder, regulatory and other customary approvals," the statement said.

Navitas has over 30 years of experience across 550 phase I-IV clinical trials, over 1,100 bioequivalence studies and 20-plus therapeutic areas, among others, it added. PTI

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