BOSTON, May 23, 2022--(BUSINESS WIRE)--Silversmith Capital Partners ("Silversmith") is pleased to announce that the acquisition of Market Access Transformation ("MAT") by Genesis Research has closed. MAT’s co-founders, Baiju Aurora and Paul Howard, will continue to lead MAT as a wholly owned subsidiary and will remain shareholders.
Silversmith served as MAT’s first institutional investor in November 2020 when it led a $30 million investment in the company to support its next phase of growth. During the partnership, MAT solidified its market leading position in global payer research by executing on several strategic initiatives, including expanding its Rapid Payer Response (RPR) stakeholder network and customer base, growing its senior leadership team, implementing new go-to-market strategies, and launching a new product platform with a focus on the Oncology market—all while maintaining consistent, profitable growth.
Based in Short Hills, NJ, MAT specializes in developing agile technology platforms that enable life sciences companies to gather insights and assess the commercial viability of their products quickly and with rigor. The Company’s two technology platforms, Rapid Payer Response and Envison, have revolutionized the way healthcare companies conduct payer research and evaluate the market access viability of their products. The addition of MAT will further enhance Genesis Research’s offering by complementing its HEOR offering with Market Access capabilities, strengthening its technology and subscription focus and helping life sciences companies generate insights and evidence faster and more comprehensively than has ever been done before.
"Brian, Jim and the Silversmith team have been incredible partners as we built out our team and accelerated product development," said Baiju Aurora, Chief Executive Officer of Market Access Transformation. "We are proud of what we have achieved with Silversmith’s support and are excited to work with Genesis Research’s world-class leadership team as we fulfill our mission of helping life sciences companies generate insights and evidence faster and more robustly than has ever been done before through innovative approaches."
"When we met the MAT team, they had not only developed an innovative and disruptive product in RPR that addressed unmet needs within healthcare research and analytics, but one that had achieved significant customer traction across the pharma landscape," said Brian Peterson, General Partner of Silversmith. "MAT has achieved extraordinary momentum over the past 18 months and we look forward to watching their continued success."
About Market Access Transformation
Founded by industry veterans, MAT specializes in developing cutting edge technologies that enable the healthcare community to gather and exchange insights that assess the real-world potential of their products. MAT offers an online, information exchange platform, Rapid Payer Response™ (RPR), that allows healthcare stakeholders to secure immediate, expert feedback from the largest and most diverse online global payer network. For more information, visit www.marketaccesstransformation.com
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $2.0 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative investments include ActiveCampaign, DistroKid, impact.com, Iodine Software, LifeStance Health, and Webflow. The partners have served on the boards of numerous successful growth companies including ABILITY Network, Dealer.com, Liberty Dialysis, Passport Health, SurveyMonkey, and Wrike. For more information about Silversmith, please visit www.silversmith.com or follow the firm on LinkedIn
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Kate Castle, Silversmith Capital Partners