Oracle Corporation Buys Relsys International

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Assignment: Berkery Noyes was retained by Relsys International
to explore strategic options, including identifying and
approaching the best partner to take the Company
to its next stage of growth.

Company: Relsys is a leading provider of drug safety, risk
management and analytics applications for the health
sciences industry; Relsys’ best-in-class solutions
support adverse event reporting, risk management
and drug safety analysis for pharmaceutical, biotechnology, contract research organizations and medical
device companies worldwide.

Results and Contributions:

  • Successfully sold to Oracle Corporation — negotiated the sale to achieve maximum value.
    • In recent years, Relsys had received approaches from a number of interested potential
      acquirers, including Oracle.
    • Berkery, Noyes was retained to advise and represent Relsys, and to conduct a competitive,
      confidential auction process.
  • Berkery, Noyes carried out a limited auction to high-probability strategic acquirers with
    demonstrated acquisition experience and funding; and selected private equity buyers
    with demonstrated experience in and knowledge of healthcare technology.
  • Oracle’s valuation and offer directly reflected a highly competitive auction process, which
    resulted in numerous bids at very strong multiples.
  • Berkery Noyes managed an intensive, complicated and detailed due diligence process
    conducted by Oracle:
    • including a detailed source code scan and analysis; review of all IP-related documentation
      and agreements; review of all customer agreements and contracts.
  • Berkery, Noyes negotiated a purchase agreement with very limited closing conditions.
  • BNC created and maintained a competitive bidding process from start to finish.

If you’re considering growth through acquisition, the sale of a business, a timely exit strategy, or a financial restructuring, call Jeffrey Smith at 212.668.3022.