Case Study: Galt Associates

Acquired by the Cerner Corporation (NASDAQ: CERN) in July 2006, Galt Associates is an example of Boston Millennia Partners’ expertise in the healthcare information technology sector and their commitment to help dedicated management teams grow their companies over the long run. Founded in 1994, Galt Associates is recognized as an international leader in the drug safety and risk management solutions industries. Boston Millennia Partners began its relationship with Galt in 2001 as the lead investor in its original Series A financing. The BMP team worked with Galt’s founders to grow their business from a niche software company in the drug safety market to a complete pharmacovigilance solutions provider. During Boston Millennia’s tenure as investors in Galt, the company developed new products to complement its initial offering and in doing so created a comprehensive solutions suite to fit the needs of life science companies of all sizes. In their five years working with the company, Boston Millennia also helped Galt extensively expand its consulting services to complement its software solutions. At the time of sale, Galt counted 16 of the world’s 20 largest life science companies as customers and had tripled its sales since BMP made its initial investment. Having the prescience to invest in the pharmacovigilance space ahead of the FDA’s increasing of post-clinical regulatory requirements, Cerner’s all cash acquisition of the company provided Boston Millennia with a strong return for the firm’s Limited Partners.

The Galt investment opportunity was sourced to BMP through our relationship with another private equity investor on the board of our portfolio company Ilex Oncology.  We were invited to invest in Galt because of our industry knowledge and specific capacity to support the company.

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