GlobalData PLC on Thursday said Inflexion Private Equity Partners LLP has bought a 40% stake in the company’s healthcare division.
The London-based data analytics and consulting firm also said it will split operations into three divisions: healthcare, consumer and technology.
Shares were up 22% at 195.00 pence in London on Thursday afternoon.
GlobalData will receive £434.0 million in cash from Inflexion. The price values the healthcare division at £1.12 billion, representing a 22-times multiple of its annual earnings before interest, tax, depreciation and amortisation.
This division’s valuation compares to a market capitalisation of £1.65 billion for GlobalData as a whole following Thursday’s share rise.
As of June, the healthcare division represented 36% of group revenue.
The majority stake of 60% will remain with GlobalData. The deal is expected to close during the second quarter of 2024.
The cash proceeds ‘will provide flexibility for accelerated value-creating mergers and acquisitions across the group’ GlobalData said.
Chief Executive Officer Mike Danson said: ‘This is a significant milestone in GlobalData’s evolution, and we are delighted to welcome Inflexion as a shareholder in our healthcare division. The investment highlights the significant value in our unique data platform and gives us the flexibility to launch a more ambitious approach to growth investment across our portfolio.’
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