Health Evolution Partners and Goldman Sachs invest in CambridgeSoft
CambridgeSoft has completed a private equity investment by Health Evolution Partners and a follow-on investment by Goldman Sachs. CambridgeSoft is a leading supplier of discovery, collaboration, and knowledge management research IT enterprise solutions, desktop software, scientific databases and consulting services for the pharmaceutical, biotechnology, and chemical industries.
Health Evolution Partners chairman, David Brailer, said: 'Pharmaceutical and biotechnology companies increasingly rely on information technology to create new therapies. We are enthusiastic to be part of CambridgeSoft, the leader of that change.' In connection with the investment, Adam Grossman will represent Health Evolution Partners on the CambridgeSoft board of directors.
'I am delighted to work with Health Evolution Partners to expand CambridgeSoft,' said Michael Tomasic, president and CEO of CambridgeSoft. 'Their involvement underscores a continuing commitment to innovation, high growth and financial excellence for the company and its future of serving the life sciences industry's growing need for outsourcing of software and service for research IT.' Raheel Zia, vice president of Goldman Sachs, will continue serving on the board, based upon Goldman Sachs' original investment in 2008.
CambridgeSoft noted its software as a service (SaaS) cloud computing offerings have continued to gain broad customer acceptance, beyond their initial launch almost five years ago. Users of CambridgeSoft's ChemBioOffice Cloud benefit by joining a growing community of customers who share infrastructure and IT costs.