Model N, Inc., a provider of cloud-based revenue management solutions provider, on Thursday said it has completed its acquisition of Revitas, Inc., a provider of life sciences revenue management software.
“Through this transaction, Model N now provides life sciences companies with a broader portfolio of best-in-class solutions and expanded options to leverage cloud computing to transform the management of revenue into a strategic, end-to-end process that drives growth and maximizes revenue,” the company said in a press release.
“We are excited to welcome the Revitas customers, partners and employees to the Model N family,” said Zack Rinat, founder, executive chairman and CEO of Model N. “Together we will deliver increased value to our joint customers by delivering innovative revenue management solutions in the cloud.”
Model N’s acquisition of Revitas unites more than 40 years of combined revenue management experience, more than 80 life sciences customers and a presence in 10 major locations around the world.
The acquisition will enable Model N to accelerate innovation across a broad set of applications to the benefit of the life sciences industry at this critical moment when revenue management is becoming a strategic imperative, one in which the industry is experiencing unprecedented and evolving global regulation, increasing price transparency, a transition from traditional consumption-based pricing to new outcome-based models and the need to acquire and divest in an M&A-centric industry.
JMP Securities served as exclusive financial advisor to Model N and Robert W. Baird & Co. served as financial advisor to Revitas on the transaction. Durham Capital Corporation advised on the debt financing.