CHICAGO, IL – November 1, 2022 – RLDatix, the leading global provider of healthcare operations software and services that drive safer care, has acquired Porzio Life Sciences, the pioneer and preeminent provider of comprehensive compliance and risk management SaaS products to the life sciences industry. Porzio Life Sciences had been a wholly-owned subsidiary of the law firm of Porzio, Bromberg & Newman since 2004.
Porzio Life Sciences simplifies and automates compliance by combining its regulatory expertise with product innovation to deliver a truly unique solution to its customers. Designed by experienced lawyers and regulatory experts, Porzio Life Sciences’ cloud-based software enables effective management of complex risk management and compliance activities for life sciences companies globally, including regulatory research, spend transparency reporting, third-party engagement, monitoring and analytics, and price transparency. Combined with RLDatix’s existing governance, risk, compliance (GRC) and workforce management offerings, Porzio Life Sciences broadens RLDatix’s capabilities across life sciences and provides a comprehensive set of tools at global scale.
“RLDatix’s acquisition of Porzio Life Sciences, when combined with our current solutions, will create a comprehensive suite of compliance offerings for the life sciences industry and a global leader in governance, risk, compliance and workforce management,” said Jeff Surges, CEO, RLDatix. “We’re excited to bring these capabilities together and to forge an innovative new path forward for our hundreds of pharmaceutical, biotech and medical device clients around the world.”
Porzio, Bromberg & Newman will continue to maintain a strategic relationship with Porzio Life Sciences. The two entities will co-market Porzio Life Sciences’ products and services and will collaborate to deliver innovative compliance solutions for the life sciences industry.
“This is a great day for our clients,” said Vito A. Gagliardi, Jr., Managing Principal, Porzio, Bromberg & Newman. “Under RLDatix’s leadership, Porzio Life Sciences will continue to simplify the compliance efforts of pharmaceutical companies while benefiting from the global scale and reach that is critical to driving ongoing success and growth.”
John Oroho, the Porzio, Bromberg & Newman lawyer who founded and developed Porzio Life Sciences, will join RLDatix as President and General Manager of RLDatix’s life sciences division. “The success of Porzio Life Sciences was always predicated on the notion of being built from the law,” said Oroho. “As we join forces with RLDatix, I am inspired by their commitment to putting the voice of the customer at the forefront of everything they do. Together, we will deliver innovative solutions that exceed the expectations of our clients.”
Fairmount Partners, a leading middle-market investment bank in the technology industry, served as the exclusive financial advisor to Porzio, Bromberg & Newman and Porzio Life Sciences on the transaction.
RLDatix is a global healthcare technology company helping organizations to provide safer care. Trusted by over 6,000 customers, RLDatix integrates and automates workflows across governance, risk, compliance (GRC), and workforce management functions to deliver critical insights that improve quality outcomes. As the only technology platform linking workforce management and GRC, RLDatix’s broad suite of enterprise software applications and services enable the identification of risk, enhance operational efficiency and compliance, and build a consistent, transparent culture of safety. RLDatix is committed to helping customers inspire trust and provide a better, safer experience for clinicians, staff, and patients alike. RLDatix is controlled by Five Arrows, TA Associates and Nordic Capital as major shareholders. Visit rldatix.com to learn more.
About Porzio Life Sciences
Porzio Life Sciences provides comprehensive compliance and risk management software and specialized services to the life sciences industry. Porzio Life Sciences’ Global Risk Management Platform features software solutions and services that are “built from the law” by a team of regulatory compliance experts. The company’s comprehensive solutions help inhouse compliance and legal professionals manage all aspects of the compliance lifecycle including regulatory research, spend transparency reporting, monitoring and analytics, price transparency, and management and tracking of high-risk engagements in jurisdictions around the country and the world — all with world-class support from dedicated regulatory experts.
About Porzio, Bromberg & Newman
Porzio, Bromberg & Newman, P.C. is a full-service law firm headquartered in Morristown, New Jersey. Founded in 1962, the firm has over 90 lawyers located in 8 offices throughout New Jersey, New York, Delaware, Massachusetts, Pennsylvania, and Puerto Rico.
About Fairmount Partners
Fairmount Partners (www.fairmountpartners.com) is an independent merger and acquisition advisory firm focused on emerging growth and middle-market companies. Fairmount helps its clients complete mergers and acquisitions, raise funds for growth, acquisitions and liquidity, and design and improve their corporate development strategies. Fairmount’s clients include successful entrepreneurs, private equity-sponsored enterprises, and global public companies. Since 2003, Fairmount has completed more than 270 transactions, representing over $15 billion in aggregate value, in 21 countries throughout North and South America, Europe, Asia and Australia. For further information, please contact: