Pannone Corporate advises Spirit on sale to OPEN Health Group

Pannone Corporate has advised North West-based medical communications agency, Spirit, on the sale to OPEN Health Group.

Our UK law firm acted as legal adviser to the shareholders of Spirit, which has been acquired by the global medical affairs specialist. OPEN Health Group is a portfolio company of Amulet Capital Partners LP, a US-based private equity firm focused exclusively on the healthcare sector. The team was led by Tom Hall, Corporate partner, with support from senior associate, Arshnoor Amershi and corporate paralegal, Behzad Borang.

Founded in 2006 by Asif Zaman, and based at premises in Didsbury and Alderley Park, Spirit offers full-service medical communications throughout the product lifecycle, with deep expertise across a range of therapy areas. Services include publication planning, medical strategy, medical education, scientific meetings, training and digital solutions.

As part of the undisclosed deal, Spirit will benefit from OPEN Health Group’s global network, with more than 850 people based in 15 locations across six different countries, including the USA, UK, The Netherlands, Germany, India and China.

Tom Hall said: “Over the last 15 years, Spirit has built an enviable reputation as a leading medical communications agency – not just in the North West, but across the globe.

“We’re delighted that a company of OPEN Health’s stature has recognised the exciting potential that Spirit possesses through its unique approach to scientific communications and its unwavering commitment to exceptional client experience. Having worked alongside Asif and the team for more than 10 years, as a long-standing client of Pannone Corporate, we have no doubt that the deal – one of a number in the sector over the last 12 months – will undoubtedly help to expand Spirit’s global reach and the range of innovative services it offers to clients worldwide.”

Asif Zaman, founder and chairman of Spirit, added: “I am delighted to see the business I started in 2006 move to the next level with OPEN Health. This transaction has exceeded my expectations, and not just in terms of my own personal outcome, but more importantly in finding the right home and cultural fit for Spirit and its fantastic team of medcomms professionals.

“Tom and the team at Pannone Corporate have been outstanding in terms of providing service excellence, adding value throughout the process and quite simply being a great team of people to work with and rely on.”

Spirit was also advised by corporate finance advisors, BCMS and accountants/tax specialists Mitchell Charlesworth LLP