June 7, 2022

Clearsight Advises Inovalon on the Divestiture of Avalere to Fishawack Health

Clearsight Advisors, Inc. (“Clearsight”) is pleased to announce another successful transaction in its Healthcare & Life Sciences practice. Clearsight served as the exclusive financial advisor to Inovalon, Inc. (“Inovalon”) on the divestiture of its healthcare consulting and advisory business, Avalere Health, LLC (“Avalere”), to Fishawack, Ltd. (“Fishawack”), a portfolio company of Bridgepoint Advisers, Ltd. (“Bridgepoint”).

Inovalon is a leading provider of cloud-based platforms empowering data-driven healthcare. The previously publicly-owned company was taken private by an equity consortium led by Nordic Capital and Insight Partners in 2021. Inovalon’s healthcare consulting business, Avalere, is a leading provider of advisory services for today’s most complex healthcare challenges. The Washington, DC-based consultancy emphasizes understanding policy changes and delivering insights on the healthcare sector to help clients adapt to industry trends and advance business operations.

Fishawack is a UK-based global commercialization partner for biopharmaceutical, medical technology and wellness companies, with additional offices across the US, Greece and Singapore. Fishawack’s core capabilities include healthcare consulting, marketing and communications, medical analysis and value, evidence and access services. The addition of Avalere’s 200+ advisors deepens Fishawack’s US market presence and diversifies its customer base. The move marks the largest expansion of Fishawack to date and allows clients to benefit from integrated offerings spanning value, evidence, access and policy.

Jonathan Boldt, Inovalon CFO, commented on the transaction, “Clearsight’s relevant insights into the healthcare and life sciences market, and deep knowledge of the acquirer universe, made them a valuable partner to the Inovalon team. Clearsight helped position us for the successful divestiture of Avalere and we are excited to watch the business continue its strong trajectory with Fishawack and Bridgepoint.”

“This transaction will drive increased focus by both Inovalon and Avalere on our respective core differentiators,” said Dr. Keith Dunleavy, CEO of Inovalon. “At Inovalon, this focus is on providing the industry’s most advanced platform of cloud-based SaaS solutions empowering data-driven healthcare.”

Elizabeth Carpenter, President of Avalere, added, “Avalere is looking forward to combining its unmatched understanding of the US healthcare market with Fishawack’s truly global perspective. We are grateful to the Clearsight team for helping us begin this exciting new chapter.”

Joel Kallett, Clearsight Co-founder and Managing Director, applauded the transaction, “We’re delighted to have supported Inovalon and Avalere in this critical divestiture transaction. Avalere, the true leader in healthcare policy, has developed an impressive reputation over the years and we are thrilled to see them continue to grow as part of Fishawack.”

“It was truly a pleasure to represent Inovalon and Avalere throughout this process. We believe there are key parallels between Avalere and Fishawack’s service offerings and team cultures, and we are eager to follow the newly combined organization as they continue to innovate and expand their global perspective,” added, Tory Steel, Director at Clearsight.

The Clearsight deal team included Joel Kallett, Greg Treger, Tory Steel, Jonathan Holland, Emily Shepherd and Matt Levinson.