Veranex Announces Investment From Summit Partners to Form Comprehensive Concept-to-Commercialization Medtech Services Company

$PRAH
Biotechnology: Commercial Physical & Biological Resarch
Health Care
Get the next $PRAH alert in real time by email

Veranex today announced the formation of the first concept-to-commercialization global service provider dedicated to the medtech industry. Formed in partnership with global growth investor Summit Partners, the Veranex platform is designed to provide the global medical technology industry with access to real-time integrated strategy across the product life cycle. As the first phase in building this global entity, Veranex has acquired three complementary solution providers: Ximedica, Quartesian, and Boston Healthcare Associates. By bringing these companies together, Veranex combines the industry's key pillars of design and engineering, regulatory, clinical, and market access into a single-source solution.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210616005710/en/

"We are thrilled to partner with Pat Donnelly, David Dockhorn, and the rest of the Veranex management team to help them execute on their vision of building a fully integrated design, development, and commercialization solution for the medtech industry," said Darren Black, managing director at Summit Partners. "This team has a demonstrated history of building leading clinical research businesses and we look forward to supporting the Veranex platform through both organic and acquisition-driven growth."

"Veranex is designed to bring a single-partner medical technology solution to our industry for the first time," said David Dockhorn, CEO of Veranex. "Veranex is a comprehensive, international one-stop medtech service provider, and we plan to continue building the platform organically and through acquisition in order to enhance our ability to help clients control costs and accelerate speed to market, all while mitigating development risk and delivering rapid global market viability assessments."

With the extensive product development experience of the three companies — now merged as Veranex — customers have access to real-time integrated strategy driven by industry-leading expertise and underpinned by advanced technologies across the medtech development life cycle. The combined company brings deep experience in the areas of device, in vitro diagnostics, companion diagnostics, digital health, and combination products/drug delivery. Therapeutic areas of focus include cardiovascular, orthopedic, women's health, wound care, ophthalmology, and gastrointestinal.

"We saw an opportunity to address current market challenges and the lack of a full-scale global service provider by combining this solution set of three leading companies to work in a complementary way and redefine what it means to be a comprehensive medtech service provider," said Veranex Executive Chairman Pat Donnelly. "We believe the Veranex platform will serve to unify the medtech development process, helping clients create synergies across every stage of the development spectrum in ways not previously available in the market."

Veranex is designed to deliver market access and strategic positioning expertise — globally and across complex and emerging markets — to drive early health economics and outcomes research (HEOR) decisions that optimize commercialization strategies and improve market adoption. The company's leadership brings a wealth of well-established global regulatory guidance experience, strong relationships with the FDA, and a demonstrated track record of successful approvals.

Veranex CEO David Dockhorn has 32 years of life sciences operating experience in various leadership roles. Most recently, he was executive vice president and chief compliance officer at PRA Health Sciences (NASDAQ:PRAH). Veranex Executive Chairman Pat Donnelly has been a pharma services founder and executive for over 28 years. He was one of the founders of PRA International (now PRA Health Sciences) where he served as CEO and president. Pat was formerly chairman and CEO of both Advarra and Aptiv Solutions as well as having served on the board of directors for Celerion, ProPharma Group, MedGenesis Therapeutix, and Rediscovery Life Sciences.

Financial terms of the transactions were not disclosed.

About Veranex

Veranex is the only truly comprehensive, global, tech-enabled service provider dedicated to the medical technology industry. Offering expert guidance for each of its four concept-through-commercialization pillars — engineering and design, clinical, market access, and regulatory — Veranex enables accelerated speed to market, controlled development costs, development risk mitigation, and accelerated market viability assessment. At every stage, Veranex customers realize efficiencies in cost and time, while its comprehensive solutions unify the entire development process. For more information, visit VeranexSolutions.com.

About Summit Partners

Founded in 1984, Summit Partners is a global alternative investment firm that is currently managing more than $28 billion in capital dedicated to growth equity, fixed income and public equity opportunities. Summit Partners invests across growth sectors of the economy and has invested in more than 500 companies in healthcare and life sciences, technology and other growth industries. Notable healthcare and life sciences companies backed by Summit Partners include Abode Healthcare, Integrated DNA Technologies, InnovaCare Health, LifeStance Health, PharmScript, Sound Physicians, U.S. Renal Care and Viroclinics-DDL. Summit Partners maintains offices in North America and Europe and invests in companies around the world. For more information, please see www.summitpartners.com or follow on LinkedIn.

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners LLP, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners LLP is a limited liability partnership registered in England and Wales with registered number OC388179 and its registered office is at 11-12 Hanover Square, London, W1S 1JJ, UK. This document is intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.

Get the next $PRAH alert in real time by email

Chat with this insight

Save time and jump to the most important pieces.

Recent Analyst Ratings for
$PRAH

DatePrice TargetRatingAnalyst
More analyst ratings

$PRAH
Press Releases

Fastest customizable press release news feed in the world

See more
  • Kent Lake Nominates Three Highly Qualified, Independent Candidates for Quanterix Board

    Believes Incumbent Board's Approval and Ongoing Pursuit of Reckless and Dilutive Proposed Merger with Akoya Biosciences Demonstrates Urgent Need for Refreshment Nominees Would Bring Deep Healthcare and Financial Experience Necessary to Properly Oversee a Standalone Quanterix, Prevent Further Capital Misallocation and Improve Shareholder Value Kent Lake Urges Shareholders to Vote Against Merger with Akoya to Protect the Future Value of Their Investment Kent Lake PR LLC ("Kent Lake"), a holder of 6.9% of the outstanding common stock of Quanterix Corporation ("Quanterix" or the "Company") (NASDAQ:QTRX), announced today it has nominated three highly qualified, independent candidates for e

    $AKYA
    $CMBM
    $CSCO
    $DOMO
    Biotechnology: Laboratory Analytical Instruments
    Industrials
    Radio And Television Broadcasting And Communications Equipment
    Technology
  • DT Midstream Set to Join S&P MidCap 400

    NEW YORK, June 28, 2021 /PRNewswire/ -- DT Midstream Inc. (NYSE:DTM) will replace PRA Health Sciences Inc. (NASD: PRAH) in the S&P MidCap 400 effective prior to the open on Friday, July 2. ICON plc (NASD: ICLR) is acquiring PRA Health Sciences in a deal expected to be completed soon pending final closing conditions. S&P 500 constituent DTE Energy Co. (NYSE:DTE) is spinning off DT Midstream in a transaction expected to be effective prior to the open on Thursday, July 1. Post spin-off, DTE Energy will remain in the S&P 500.   Following is a summary of the change that will take place prior to the open of trading on the effective date: Effective Date Index Name       Action Company Name Ticker

    $SPGI
    $DTE
    $ICLR
    $PRAH
    Finance: Consumer Services
    Finance
    Electric Utilities: Central
    Utilities
  • Veradigm and PRA Health Sciences Partner to Create the Industry's Leading EHR-Based Clinical Research Network

    Through this strategic partnership, the network aims to reach more than 25,000 physicians and 40 million patients, accelerating trial recruitment and enrollment efforts and expanding patients' access to clinical research Veradigm®, a leading provider of healthcare data and technology solutions and a business unit of Allscripts Healthcare Solutions (NASDAQ:MDRX), and PRA Health Sciences, Inc. (NASDAQ:PRAH), one of the world's leading global contract research organizations, announced today the creation of the industry's leading electronic healthcare records-based clinical research network that reaches more than 25,000 physicians and 40 million patients across the United States. This press re

    $PRAH
    $MDRX
    Biotechnology: Commercial Physical & Biological Resarch
    Health Care
    EDP Services
    Technology

$PRAH
Analyst Ratings

Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

See more

$PRAH
Insider Trading

Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

See more

$PRAH
SEC Filings

See more

$PRAH
Leadership Updates

Live Leadership Updates

See more
  • Anavex Life Sciences Announces Appointment of Ms Jiong Ma, PhD to Board of Directors

    Strengthening Board of Directors with Expertise in Innovative Product Launches NEW YORK, May 26, 2021 (GLOBE NEWSWIRE) -- Anavex Life Sciences Corp. ("Anavex" or the "Company") (NASDAQ:AVXL), a clinical-stage biopharmaceutical company developing differentiated therapeutics for the treatment of neurodegenerative and neurodevelopmental disorders including Alzheimer's disease, Parkinson's disease, Rett syndrome and other central nervous system (CNS) diseases, today announced the appointment of Ms. Jiong Ma, PhD to its Board of Directors. Ms. Ma is Senior Board executive with over 25 years of experience in investing, building, scaling of companies with focus on innovative product launches in

    $AVXL
    $TMDX
    $PRAH
    Biotechnology: Biological Products (No Diagnostic Substances)
    Health Care
    Biotechnology: Electromedical & Electrotherapeutic Apparatus
    Biotechnology: Commercial Physical & Biological Resarch

$PRAH
Large Ownership Changes

This live feed shows all institutional transactions in real time.

See more