NNIT A/S

12/2020 NNIT acquires Excellis Health Solutions

Company announcement 12/2020
November 9, 2020

The NNIT Group acquires Excellis Health Solutions and continues its Life Sciences growth journey

NNIT A/S (“NNIT”), a leading provider of IT services and consultancy announces that it has signed an agreement to acquire Excellis Health Solutions, LLC. (“Excellis”).

Excellis is a leading specialized global provider in end-to-end supply chain consulting services to the life sciences industry. With the acquisition of Excellis, NNIT strengthens its leading global position within life sciences even further.

Excellis will strengthen NNIT’s customer portfolio across the global pharma and biotech industries and enhance the Group’s ability to provide end-to-end life sciences IT services to all customers.

Per Kogut, CEO of NNIT, comments:
“We are excited to welcome Excellis and their unique experience and expert knowledge of the life sciences end-to-end supply chain. The acquisition is an important milestone in our strategy to grow the life sciences segment, further. At the same time, we are delivering on our promise to further strengthen and grow our portfolio of IT services and solutions to the benefit of our customers. Excellis will play an important role in securing our leading global position.”

Greg Cathcart, CEO and Founder of Excellis comments:
“We are extremely proud to join the NNIT Group and the journey they are on. By joining a global leading provider of IT services to the life sciences industry, the Excellis team will have an opportunity to expand much faster, and we believe that the capabilities that NNIT brings to the market is something our customers will require, and vice versa. The acquisition will support our joint goals as well as our customers’ goals.”

Transaction overview
NNIT will acquire 100% of the shares of Excellis for an upfront payment of USD 29.4 million. Further, the agreement consists of an earn-out element being realized until the end of 2023, which at target is USD 12.6 million, depending on performance.

Following the acquisition, Excellis will in daily operations continue its current business, while working together with NNIT on new and existing business opportunities. Excellis will be named “Excellis Health Solutions - an NNIT Group Company”.

NNIT will finance the acquisition through its operating cash flows and existing credit facilities. No external equity or debt financing will be needed.

Closing of the agreement is expected to be during November, 2020.