Perficient, an information technology consulting firm serving Global 2000 and other large enterprise customers throughout North America, has acquired BioPharm Systems, a business and information technology consulting firm focused on the life sciences industry, for approximately $17.6 million, including about $11.4 million in cash and $6.2 million of Perficient common stock.
Perficient’s annualized revenues now are approaching $450 million, and the transaction is expected to be accretive to adjusted earnings per share immediately. BioPharm Systems’ services revenue is about $15 million annually.
Jeffrey Davis, Perficient’s CEO and president, said, “With the addition of BioPharm Systems, Perficient has strengthened our ability to create even more powerful management and IT consulting solutions for our healthcare and life sciences customers. Furthermore, BioPharm Systems brings impressive bill rates and margins, important intellectual property assets and a proven track record of growth, profitability and client satisfaction.”
“BioPharm Systems’ outstanding reputation and expertise within the life sciences industry further positions Perficient as a leading solution provider for healthcare and life sciences enterprises across North America,” said David Hastoglis, Perficient vice president of industry verticals. “Their comprehensive information management solutions and deep business consulting expertise enable companies to improve the productivity, safety and effectiveness of their clinical trials.”
The acquisition deepens Perficient’s current clinical trial management, clinical data management and safety and pharmacovigilance solutions and strengthens Perficient’s overall Oracle partnership and capabilities by bringing extensive experience in the implementation, integration, migration and hosting of Oracle's Health Sciences applications.
BioPharm Systems president and CEO Alex Sefanov will join Perficient in a key leadership role.