Arsenal Capital Partners completes GBP182m acquisition of Cello Health

Arsenal Capital Partners (Arsenal), a specialised private equity firm investing in healthcare and industrials companies, has completed the acquisition of Cello Health, a global healthcare-focused advisory firm, for a total enterprise value of GBP181.8 million.

The acquisition of Cello Health provides the foundation for a new enterprise to enable healthcare and biopharmaceutical clients to maximise the value of their products. In doing so, it aims to help clients accelerate and optimise patient access to medical and technological advances that have a transformative effect on patient’s lives. Through a series of investments to acquire, invest in and develop best-in-breed companies, the new enterprise that is backed by Arsenal is assembling a differentiated set of capabilities across critical domains including strategy and insights, evidence generation, data and analytics, and communications – all rooted in world-class science and enabled by the latest technology.

Cello Health’s capabilities and culture are highly complementary with those of BresMed, a leader in health economic research and submissions to payers, which was acquired by Arsenal in February 2020.
Jon Williams, CEO of Arsenal’s new enterprise, says: “We are delighted to complete the acquisition of Cello Health as the foundation of this ambitious enterprise. I’m proud to be associated with a company that has such an exceptional reputation, a rare combination of commercial and scientific credentials, and a culture that’s dynamic and collaborative.
The opportunity in front of us is significant and exciting. Our clients are developing and commercialising new products in a world that’s complex, uncertain and often risky. But medical science and technology are moving quickly, leading to major breakthroughs and numerous opportunities. We are creating an enterprise that supports better strategic decisions, generates robust data and evidence, undertakes advanced analytics to draw out critical insights, and supports communication with a range of critical stakeholders. We look forward to working with our new colleagues as we embark on the next important phase of our journey.”
Mark Scott, CEO of Cello Health, says: “Today’s announcement marks an exciting moment for Cello Health. We have a shared belief with Arsenal that clients need a partner that combines industry expertise, commercial experience, scientific depth, and cutting-edge technology and data. We’re confident that we can accelerate growth by expanding support for our clients, investing in innovation, and continuing our ambition to become a world-class, truly global company.”
Gene Gorbach, Investment Partner of Arsenal, says: “We are excited that Cello Health’s management and employees will be at the heart of this critical effort to build a market-leading enterprise. We look forward to leveraging Arsenal’s capabilities in North America and Europe to achieve our shared vision for Cello Health as a foundation for a new company that will enable clients to achieve commercial success with their products, and for patients to gain access to life-changing innovations.”
Ropes & Gray International LLP provided legal advice to Arsenal. Marriott Harrison LLP provided legal advice to Cello Health. Greenhill acted as financial adviser, and Cenkos acted as nominated adviser and broker, to Cello Health. Rothschild & Co acted as financial adviser to Arsenal.