Revenue Management Leader Expands Footprint to Serve Broader Life Sciences Market
SAN MATEO, Calif.–(BUSINESS WIRE)–#ModelN–Model N, Inc. (NYSE: MODN), the leader in cloud revenue management solutions, today announced that it has completed its acquisition of Deloitte’s life sciences pricing and contracting solutions business and underlying technology.
With the acquisition, Model N has broadened its portfolio to better serve life sciences companies from pre-commercial to the largest enterprises in the world, deepened its domain expertise, and strengthened its offering by adding purpose-built, cloud-native software. In addition to increasing Model N’s addressable market, the acquisition will immediately provide cross-sell opportunities to customers of all sizes.
“This is an exciting acquisition for Model N not only because of the sizable expansion of our TAM but also because of the talented team of employees, complementary technology and significant customer base,” said Jason Blessing, president and chief executive officer of Model N. “With the addition of Deloitte’s cloud software and expert services solution, we can serve the entire life sciences market from pre-commercial to large enterprises. We now offer a complete range of revenue management solutions that support our customers as they move through various stages of development.”
Model N acquired Deloitte’s life sciences pricing and contracting solutions business and underlying technology for approximately $60 million in cash.
About Model N
Model N enables life sciences and high tech companies to drive growth and market share, minimizing revenue leakage throughout the revenue lifecycle. With deep industry expertise and solutionspurpose-built for these industries, Model N delivers comprehensive visibility, insight and control over the complexities of commercial operations and compliance. Its integrated cloud solution is proven to automate pricing, incentive and contract decisions to scale business profitably and grow revenue. Model N is trusted across more than 120 countries by the world’s leading pharmaceutical, medical technology, semiconductor, and high tech companies, including Johnson & Johnson, AstraZeneca, Stryker, Seagate Technology, Broadcom and Microchip Technology. For more information, visit www.modeln.com.
As used in this document, “Deloitte” means Deloitte & Touche LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of its legal structure. Certain services may not be available to attest clients under the rules and regulations of public accounting.