TAKE Solutions, a globally recognized domain intensive services provider in life sciences, announced it has entered into a definitive agreement for a strategic partnership with an affiliate of H.I.G. Capital, a leading global alternative investment firm with US $ 45 billion of equity capital under management. Through this strategic alliance, an affiliate of H.I.G. will be acquiring a 75% stake of Navitas Life Sciences, a wholly-owned subsidiary of TAKE, to support the current management team in accelerating their growth plan and enabling TAKE to capture future Navitas growth potential.

Headquartered in Princeton, NJ, Navitas Life Sciences delivers full-service CRO, FSP expertise in data sciences, and regulatory and safety solutions for large blue-chip pharmaceutical and biotech clients across North America, Asia Pacific, and Latin America. Navitas has over 30 years of rich experience across 550+ phase I-IV clinical trials, 1100 bioequivalence studies, 20+ therapeutic areas, and 40+ successful GCP/non-GCP audits.

"We are partnering with H.I.G. in our mission to accelerate access to outstanding drug development outcomes to people across the world by harnessing the power of technology and domain knowledge. H.I.G., with its global network and diverse experience across healthcare and life sciences, makes them an ideal partner to support Navitas' continued growth as a global next Generation CRO", said Srinivasan H R, Vice Chairman & Managing Director, TAKE Solutions. "H.I.G. has an excellent track record of building businesses and creating shareholder value, so this partnership is crucial for TAKE and TAKE's shareholders. This transaction is a validation of our business model and its future growth prospects."

"The strength of Navitas' global platform, with delivery centres in the U.S. and India, provides unmatched solutions for its blue-chip, global client base. We are excited to partner with Navitas' talented leadership team and highly dedicated employees to further enhance the power of the platform and invest in delivering additional value for clients," said Camilo Horvilleur, Managing Director at H.I.G. Capital.

He further adds, ``Navitas' capabilities go well beyond a traditional CRO as the company leverages its expertise and technology for innovation and growth. As technology becomes an integral part of the drug development value chain, we expect Navitas to become an increasingly important strategic partner to life sciences companies."

The transaction is expected to close in the fourth quarter of 2021, subject to shareholder, regulatory and other customary approvals.