Transactions

February 2019
New York
has received a $61mm investment from
Boston, MA


Background

SERMO is the largest social network for doctors and offers a platform for doctors to discuss cases, conduct market research and rate prescription drugs, and is fueling the medical crowdsourcing movement within the healthcare industry. The platform enables doctors to inquire with other certified and credentialed healthcare professionals to ask each other real-life questions, gather advice and obtain second opinions about diagnoses. SERMO’s platform allows healthcare professionals to conduct anonymous peer-to-peer collaboration and discussions to help better serve the global healthcare practitioner community. SERMO has over 800,000 verified and credentialed physicians actively engaged on the platform across 150 countries.



SERMO hired M&A to assist in refinancing the Company’s senior secured lending facility and recapitalize certain other preferred equity shareholders. M&A is intimately familiar with the healthcare IT and market research space, having completed multiple transactions involving both healthcare IT and the broader market research space. After a number of transactions in the space, M&A was able to articulate the strong value proposition of SERMO’s solutions and position the company in front of the most interested parties active in the space.

Following a thorough review of potential options, SERMO decided to accept a recapitalization offer from ABRY Partners whereby ABRY Partners would eliminate SERMO’s senior secured debt holders as well as certain other preferred equity shareholder.

SEMRO plans to utilize this new source of funding to expand upon both organic and acquisitive growth opportunities.

Marlin & Associates served as exclusive strategic and financial advisor to SERMO on a complex restructuring. M&A led the preparation of detailed transaction marketing materials, conducted discussions with potentially interested parties, facilitated information exchange, advised on the negotiation and evaluation of alternative offers, managed preliminary and confirmatory due diligence reviews, and coordinated the preparation of final legal documents.

Peter Kirk, SERMO’s CEO, said: "The Marlin & Associates team was instrumental in completing this transaction. Their understanding of the market, commitment to the process, professionalism, deal expertise and execution capabilities directly resulted in a successful outcome that will allow us to accelerate the innovation and adoption of the SERMO platform globally.”

Rob Nicewicz, a Principal with Abry Partners, said: “The Marlin & Associates team expertly navigated the SERMO transaction on behalf of the Company.”

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