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.