CHICAGO, IL (May 27, 2021) – ProPharma Group and The Planet Group have reached a definitive agreement to merge the two companies.
ProPharma Group, a portfolio company of Odyssey Investment Partners, is the leading global provider of outsourced regulatory, compliance, pharmacovigilance, and medical information services for pharmaceutical, biotechnology, and medical device companies.
The Planet Group, parent company of Planet Technology, is the leading global provider of specialized consulting services and outsourced human capital solutions to the Life Sciences, Energy / Engineering and Technology sectors. The combination will accelerate growth opportunities as well as support ProPharma Group’s higher purpose of improving patient health and safety and Planet’s mission of supporting clients’ diverse talent needs.
“This merger rapidly extends our size, scale and growth momentum,” said Dawn Sherman, ProPharma Group’s CEO. “Our newly combined company, which will now have over 1900 colleagues around the world, brings even more depth and breadth to the services we provide our clients and the patients we support.”
“This is a great day for the entire Planet Group family,” said Michael Stomberg, CEO of The Planet Group. “The complementary nature of this merger creates a dynamic platform with a truly global footprint and a complete line of service offerings to meet all of our clients’ needs. We are looking forward to the next phase of growth and our continued commitment to quality and excellence in everything we do.”
Planet’s specialized life sciences consulting services are perfectly aligned with, and complementary to, ProPharma Group’s core services which support clients throughout the full product lifecycle. In addition, ProPharma Group’s global footprint quickly enhances The Planet Group’s ability to further support the global talent market.
Odyssey continues as the combined company’s investment partner for strategic growth.
Tug Fisher, Principal of Odyssey Investment Partners, commented, “This is a powerful combination of two highly complementary businesses, creating an opportunity to enhance growth prospects across their collective service offerings. We are confident this merger will solidify the combined company’s reputation as a value-added partner to its clients. Odyssey is excited to continue supporting management in building a unique business poised for rapid growth.”
ProPharma Group is the leading global, independent, single-source provider of outsourced regulatory, compliance, pharmacovigilance, and medical information services serving pharmaceutical, biotechnology, and medical device companies. Founded in 2001, ProPharma Group has more than 1,300 colleagues worldwide providing a comprehensive portfolio of regulatory and compliance solutions to help solve complex challenges in a dynamic regulatory environment. With the mission to improve the health and safety of patients, ProPharma Group is focused on delivering the highest quality of services throughout the full product lifecycle. For more information, please visit propharmagroup.com.
The Planet Group consists of nine related entities, including four global consulting organizations and five renowned staffing brands, and has been purposefully built to address the professional services needs of leading companies in the Life Sciences, Technology, Diversified Energy & Engineering, Accounting & Finance, Human Resources, Healthcare, and Digital Marketing areas. The company was founded in 2009 and is headquartered in Chicago, Illinois with offices throughout the US and Europe.
Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit odysseyinvestment.com.
Jean Marie Thompson
The Planet Group