BOSTON, MA and SAN FRANCISCO, CA (October 18, 2023) – Aeris Partners is pleased to announce Prendio, the leading provider of cloud-based eProcurement SaaS (Software-as-a-Service) and supplier marketplace solutions for life sciences, and BioProcure, the leading provider of procure-to-pay tech-enabled services for biotech, received a significant growth equity investment from Primus Capital.
Aeris Partners served as the exclusive financial advisor to Prendio and BioProcure (“Prendio-BioProcure” or the “Company”). Terms of the transaction were not disclosed.
Since 2007, Prendio-BioProcure has been committed to the mission of simplifying and optimizing procurement processes for high growth life sciences and biotech organizations. With its leading, purpose-built procure-to-pay cloud solutions, expansive network of more than 10,000 biotech and life sciences suppliers, and best-in-class procure-to-pay support services, Prendio-BioProcure streamlines procurement processes, enhances supplier collaboration, and drives financial innovation and efficiency for life sciences and biotech companies of all stages.
“The Prendio-BioProcure platform, network and growth story is truly remarkable and we were honored to advise Vin Bologna, Laura Stack and the entire management team on the transaction,” said David Joncas, Co-Founder and Managing Director at Aeris Partners. “Prendio-BioProcure is incredibly well positioned and we’re confident Primus will be an exceptional partner to the Company during its next phase of growth and innovation.”
“Prendio-BioProcure’s industry leading, purpose-built procure-to-pay solutions address the mission-critical needs of the most innovative BioTech and Life Sciences companies in the world,“ said Gray Eklund, Director at Aeris Partners. “It was a pleasure advising Prendio-BioProcure’s founders and management team on the transaction.”
Prendio is an industry-leading, cloud-based eProcurement solution created specifically for the life science vertical. Built by a team of industry professionals with over 50 combined years of experience in biotech procurement, lab management, and finance, the Prendio software was designed to relieve the pain points felt by research teams struggling with cumbersome and inefficient procure-to-pay systems. Prendio is an affordable, intuitive, and scalable solution designed to accelerate the progress of life science teams everywhere.
Since 2007, BioProcure has been instrumental to the success of hundreds of emerging and established life science companies worldwide. By providing procurement services, accounts payable support, and other administrative assistance to research organizations, the BioProcure team has succeeded in securing billions of dollars in cost savings for the biotech research organizations they serve, and relieving lab teams of countless hours of administrative work, allowing them to invest more of their time and funding into their science and drive discovery faster.
About Primus Capital
Primus Capital invests in leading growth companies in the healthcare, software, and technology-enabled services industry sectors. Primus partners with exceptional founders and management teams to accelerate growth, improve operating performance, and increase the value of the companies in which they invest. Primus pursues a range of transaction types including primary investments of growth capital, control and minority recapitalizations, and buyouts; this flexible approach enables Primus to partner with founders and management teams to design tailored investment structures to meet their particular needs.
About Aeris Partners
Aeris Partners provides premium strategic M&A advisory services to best-in-class software and Software-as-a-Service (SaaS) companies, private equity investors and venture capital firms spanning a range of high-growth vertical markets including healthcare IT (HCIT), PharmaTech, government (GovTech), education (EdTech), architecture, engineering and construction (AECO), financial technology (FinTech), energy & power (EnergyTech), analytics, transportation and logistics, and the public sector, among others. Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $35 billion of M&A advisory assignments to date. For more information, please visit: www.aerispartners.com.
Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC.