Connect with us

Technology

Valinor Pharma Announces Acquisition by Grünenthal with a Total Deal Value of Approximately $250 Million

Published

2 months ago

on

Grünenthal acquires Valinor Pharma in an all-stock deal and becomes the owner of the global rights to Movantik® (naloxegol)

Valinor Pharma had owned Movantik since early 2023 and leveraged Apollo Care’s commercial platform to grow Movantik volume in the U.S. while reducing gross-to-net and operating costs

First quarter financial highlights include revenue growth of 150% and highest-ever EBITDA

CHICAGO, July 22, 2024 /PRNewswire/ — Valinor Pharma, LLC (“Valinor”) announced today it was purchased by Grünenthal for a total deal value of approximately $250 million in upfront cash consideration.

“Today’s announcement recognizes the significant value we have built for our patients and shareholders,” said Todd N. Smith, CEO of Valinor. “This acquisition comes at a great time as Valinor has implemented an innovative commercial platform of sales and patient access tools that will provide Grünenthal with a strong foundation for future growth.”

Over the last 12 months, in partnership with Apollo Care, Valinor has implemented a suite of integrated sales, analytics, patient access, and gross-to-net management solutions that have provided the basis for record prescription growth while reducing gross-to-net and operating costs.

“We are proud of the remarkable achievements of our team,” said Ben Bove, President of Valinor. “In short order, we have been able to transform the commercial and financial performance of Movantik by executing on an innovative commercial strategy that has reduced gross-to-net costs while simultaneously driving prescription growth and improved access for patients.”

Movantik’s performance was steadily declining prior to Valinor’s acquisition but has grown consistently since 2023. Driven by Movantik, Valinor’s net revenues in the first quarter of 2024 were 150% higher than the first quarter of 2023, and the business recorded its highest-ever EBITDA.

“The strategy executed by the Valinor team combined with the innovative Apollo Care solutions has substantially transformed Movantik in a brief amount of time,” said Clarke B. Futch, Chairman of Valinor and CEO of HealthCare Royalty. “The performance of Valinor demonstrates that differentiated products like Movantik can still be very successful in mature markets with the right strategies, tools, and execution.”

Advisors
RBC Capital Markets, LLC acted as lead financial advisor to Valinor, and Wells Fargo also acted as financial advisor. McDermott Will & Emery LLP acted as legal advisor to Valinor.

About Valinor
Valinor strives to bring significant value and impact to patients, healthcare providers, and investors. It was founded on the simple but powerful belief that serving patients is foremost and successful commercialization of therapies is achievable in today’s market. By applying commercial expertise and innovation guided by analytics, we can help address the market challenges that stand between providers, patients, and their medications. For more information, please visit www.valinorrx.com.

About Apollo Care
Apollo Care develops and deploys patient access and analytics solutions through purpose-built technology to help pharmaceutical brands address commercial challenges. With a history of industry-first innovation, Apollo Care is rethinking outdated industry practices to deliver integrated solutions that drive growth, optimize gross-to-net costs, and improve patient outcomes. Apollo Care is based in Chicago, Illinois. For more information, please visit www.apollocare.com or follow us on LinkedIn.

Media Contact
Media@biotechcomm.com

View original content:https://www.prnewswire.co.uk/news-releases/valinor-pharma-announces-acquisition-by-grunenthal-with-a-total-deal-value-of-approximately-250-million-302202977.html

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Quidax Launches $125,000 Crypto Innovation Pitch, Partners with Moonshot for TC Battlefield

Published

52 mins ago

on

September 27, 2024

By

LAGOS, Nigeria, Sept. 27, 2024 /PRNewswire/ — Quidax and TechCabal have announced a partnership for this year’s TechCabal Battlefield competition. As part of this year’s competition Quidax has introduced a Crypto Innovation Pitch for the most promising African crypto startup. This pitch is for Africa-focused seed to early-growth stage crypto and blockchain startups that are creating impactful solutions for African markets.

In conjunction with Asset Chain, Quidax will award the selected startups $15,000 in funding. In addition to the funding, Quidax is collaborating with Huawei, Fincra, and Asset Chain to offer $110,000 worth of startup support credits. The support will be in the form of $80,000 worth of cloud services credit from Huawei, $20,000 worth of payment processing credit from Fincra, and $10,000 in crypto tokens from Asset Chain.

The top 5 crypto startups chosen from applications will get a chance to pitch at Tech Cabal’s Moonshot event between 9th – 10th, October, 2024 at the Eko Convention Centre, Lagos, Nigeria. The winning startup will be announced and awarded on the TC Battlefield stage at the Moonshot event.

Interested crypto startups can apply here for the Crypto Innovation Pitch.

TechCabal’s Battlefield, first held in 2014 and is now in its 10th year. It involves a rigorous selection process which will culminate in a high-stakes pitch at the Moonshot conference.

About Quidax

Quidax is an African-founded cryptocurrency exchange that makes it easy for anyone to buy, sell, store and transfer cryptocurrencies.Quidax additionally enables OTC trading and offers a Crypto API. The Crypto API enables businesses to build and offer crypto products.

About Moonshot

Moonshot by TechCabal is TechCabal’s flagship event that brings together industry leaders and key players in the African tech ecosystem. The event is an opportunity for tech enthusiasts to network, collaborate, and share ideas that define the ecosystem.

Contact:
***@quidax.com

Photo(s):
https://www.prlog.org/13040687

Press release distributed by PRLog

View original content:https://www.prnewswire.com/news-releases/quidax-launches-125-000-crypto-innovation-pitch-partners-with-moonshot-for-tc-battlefield-302261310.html

SOURCE Quidax

Continue Reading

Technology

“The Reckoning of Third-Party Risk Management” presented by Lori Frank, President and CEO, at UMACHA’s Navigating Payments Conference

Published

52 mins ago

on

September 27, 2024

By

Navigating Payments 2024 – Celebrating UMACHA’s past 50 years – Looking Back. Moving Forward.

MINNEAPOLIS, Sept. 27, 2024 /PRNewswire-PRWeb/ — Lori Frank, President & CEO of Argos Risk, joined the stage and presented her compelling insights on “The Reckoning of Third-Party Risk Management” at UMACHA’s Navigating Payments 2024 Conference in Brooklyn Center, Minnesota.

“It’s a privilege to contribute to this important conversation at such a milestone event,” said Frank. “Looking back at what we’ve learned, we can move forward with stronger, more resilient practices.”

 

Celebrating UMACHA’s 50-year legacy, this highly anticipated event drew key stakeholders across the payments industry. “Looking Back. Moving Forward.” was this year’s theme, which emphasized the historical progress and pivotal shifts in the landscape of payments while paving the way for innovation and forward-thinking strategies.

One pivotal shift is the complexity of third-party relationships and the need for comprehensive risk management. Lori Frank’s session, “The Reckoning of Third-Party Risk Management,” highlighted the rising significance of robust risk management strategies for organizations as they depend on external partners to support and optimize their operations.

Drawing from her extensive banking and risk management background, Frank’s session also emphasized the lessons learned from past challenges and the evolution of Third-Party Risk Management. She offered actionable strategies to assess, manage, and reduce vulnerabilities to safeguard against future third-party partnership risks.

“It’s a privilege to contribute to this important conversation at such a milestone event,” said Frank. “Third-Party Risk Management is more important than ever, and organizations must adapt to new risks and challenges that come with outsourcing and vendor relationships. Looking back at what we’ve learned, we can move forward with stronger, more resilient practices.”

UMACHA’s Navigating Payments Conference is a cornerstone event for professionals in the payments industry, offering thought leadership on pressing issues and providing invaluable insights into emerging trends and best practices. Frank’s presentation delivered valuable insights for attendees committed to enhancing their risk management capabilities while advancing industry standards.

About Argos Risk
Argos Risk is a leading provider of third-party risk intelligence solutions, helping organizations mitigate the risks associated with third-party relationships. The company offers innovative, easy-to-use solutions designed to assess and monitor the financial health, operational stability, and compliance standing of third-party vendors, partners, and customers. With a commitment to empowering businesses with actionable risk intelligence, Argos Risk continues to lead the way in Third-Party Risk Management.

Media Contact

Public Relations, Argos Risk, LLC, +1 (952) 446-7582, marketing@argosrisk.com, https://www.argosrisk.com/

Twitter

View original content to download multimedia:https://www.prweb.com/releases/the-reckoning-of-third-party-risk-management-presented-by-lori-frank-president-and-ceo-at-umachas-navigating-payments-conference-302261358.html

SOURCE Argos Risk, LLC

Continue Reading

Technology

Raintree Systems Accelerates Innovation and Growth with Strategic Appointment to Board of Directors

Published

2 hours ago

on

September 27, 2024

By

30-Year Tech and Healthcare Veteran, Bill Lucchini, to Advise on Driving Customer Value Through Automation and Efficiency

CHANDLER, Ariz., Sept. 27, 2024 /PRNewswire/ — Raintree Systems, inc., a leading rehabilitation therapy software provider backed by Serent Capital, announced today the appointment of Bill Lucchini to its Board of Directors.

This strategic addition comes at a pivotal time as Raintree continues its rapid growth and solidifies its position as a leader in technology solutions for physical therapy, occupational therapy, speech-language pathology, and multidisciplinary therapy practices.

Lucchini brings an outstanding track record in scaling healthcare technology solutions. As CEO of Nextech Systems, a prominent healthcare technology solution for specialty providers, Lucchini focused on customer-centric innovation that led to the company being the preeminent EHR and payments solutions in its specialties. Lucchini’s emphasis on creating meaningful workflow and efficiency benefits for its customers included AI-empowered patient journey innovations. He has also served as CEO of Dealer-FX Group, Inc., SVP and GM of Sophos Cloud, COO at OnForce, and held an impressive 16-year tenure at Intuit. His experience and expertise will help advise and accelerate Raintree’s product roadmap.

“We are thrilled to attract a leader of Bill’s caliber to our Board,” said Nick Hedges, CEO of Raintree Systems. “He is renowned for transforming Nextech through product innovation, including AI, that reset the bar for customer value. I am excited for the Board and I to have Bill as a close advisor as we chart a similar path at Raintree to redefine innovation in the rehab therapy EHR space.”

“I’m excited to work with Nick, the board, and the executive team to further Raintree’s mission to help therapy professionals provide better care and achieve superior outcomes for their patients,” said Lucchini. “Therapy professionals are making a difference for patients every day, and as an industry leader Raintree drives innovation that helps them focus on patient care while enabling them to grow and thrive. I look forward to working with all the great people at Raintree to leverage AI and other new technologies to do even more for our customers.”

About Raintree Systems 
Raintree is the preeminent platform for enterprise and mid-sized therapy provider organizations. With a proven track record of success and client satisfaction, Raintree provides solutions in patient engagement and communications, clinical documentation, revenue cycle management (RCM), and business intelligence/analytics for adult and pediatric physical therapy, occupational therapy, speech therapy, and multidisciplinary practices across all treatment settings. Raintree clients make up over 2,500 implementations nationwide and more than 25,000 users daily. Raintree leads the industry in compliance and security, offering the first ONC-certified EHR designed specifically for rehabilitation therapy. To learn more about Raintree, visit https://www.raintreeinc.com/

Contact: 
Sorella Andersen
sorella.andersen@raintreeinc.com 

View original content to download multimedia:https://www.prnewswire.com/news-releases/raintree-systems-accelerates-innovation-and-growth-with-strategic-appointment-to-board-of-directors-302261383.html

SOURCE Raintree Systems

Continue Reading

Trending