LUCID GROUP PARTNERS WITH NEW INVESTOR ICG
Mar 10, 2021
Lucid Group has secured a new investment from Intermediate Capital Group (ICG) to support its continued ambition to build a global business that delivers life transforming value for everyone.
Founded in 2007, Lucid Group is a strategic healthcare communications company committed to advancing patient health outcomes through healthcare communications that improve the way patients and diseases are managed, and medicines are used. Lucid Group’s pioneering approaches have received industry-wide recognition and have consistently led to above industry growth.
With offices in the UK, US and Asia, Lucid now employs around 250 people. Lucid works in partnership with the world’s leading pharmaceutical and biotech organisations and has played a pivotal role in providing healthcare communication solutions for many of the industry’s innovative blockbuster assets.
LDC will exit after nearly four successful years during which Lucid has completed two successful acquisitions – HealthCare21 and Bluedog – strengthening its digital, creative and scientific offering, expanding its high-profile client base and significantly strengthening its team and operations. Lucid also expanded internationally, launching into new markets in Singapore and Dubai and adding to its established presence in the US. These accomplishments, with LDC’s support, have enabled Lucid to reach key milestones in the first phase of its ambitious growth plans.
ICG brings deep healthcare sector expertise, a global network and significant availability of additional capital to support Lucid on its journey. ICG will support Lucid’s ambitious team to acquire and build new capabilities that will add value to its clients, attract new talent and evolve its people development offering. They will also support further expansion across geographies, with a particular focus on the US.
On securing this investment Dennis O’Brien, Lucid Group CEO, commented, “This marks the start of an exciting new chapter for Lucid, which drives increased investment to help us realise our vision of transforming lives. We have a tremendous team and a great client base, our goal is to continue to strengthen this by bringing new capabilities and more value to our partnerships. With ICG we feel we have the perfect partner who shares our vision and matches our level of ambition to transform the value we bring to our industry and to patients. ICG are deeply committed to investing in this sector and are perfectly positioned to help bring the best capabilities to our business and support us to further internationalise.”
Peter Kirtley, ICG Managing Director, commented, “ICG is a leading global alternative asset manager, with a long and successful track record of providing capital to support founder-led growing businesses like Lucid Group. We have admired Lucid Group and its reputation within the industry for many years. Through our partnership, together, we can leverage Lucid’s ambition and our sector expertise to build a truly global healthcare communications organisation.”
For more information please contact:
Laura Gaskell, Marketing Director