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CambridgeSoft receives investment from Health Evolution and Goldman Sachs

CambridgeSoft has completed a private equity investment by Health Evolution Partners and a follow-on investment by Goldman Sachs.

CambridgeSoft is a supplier of discovery, collaboration, and knowledge management research IT enterprise solutions, desktop software, scientific databases and consulting services for the pharmaceutical, biotechnology, and chemical industries.

Health Evolution chairman David J. Brailer says: "Pharmaceutical and biotechnology companies increasingly rely on information technology to create new therapies. We are enthusiastic to be part of CambridgeSoft, the leader of that change."

In connection with the investment, Adam Grossman will represent Health Evolution Partners on the CambridgeSoft board of directors.

"I am delighted to work with Health Evolution Partners to expand CambridgeSoft," says Michael G. Tomasic, president and chief executive of CambridgeSoft. "Their involvement underscores a continuing commitment to innovation, high growth and financial excellence for the company and its future of serving the life sciences industry’s growing need for outsourcing of software and service for research IT."

Raheel Zia, vice president of Goldman Sachs, will continue serving on the board, based upon Goldman Sachs’ original investment in 2008.

Zia says: "CambridgeSoft continues to be a market leader with strong financial performance, a superior platform that streamlines the research and development lifecycle, and a focused and experienced management team."

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