Singapore’s sovereign wealth fund GIC has partnered with US private equity firm Linden Capital Partners to acquire a minority stake in Canada’s Klick Group, one of the world’s largest healthcare marketing agencies, according to an announcement.
GIC and Linden Capital Partners will acquire the minority stake from private equity firm GTCR. Financial terms of the transaction were not disclosed, but a report by The Financial Times said the deal values the Toronto-based company at nearly $2.5 billion.
The investment follows a series of strategic acquisitions by Klick, including US-based Peregrine Market Access and the Singapore operations of Ward6, aimed at strengthening the company’s capabilities in market access, medical communications, and professional marketing.
The company now operates in key hubs including New York, Toronto, London, São Paulo, and Singapore.
Founded in 1997, Klick helps pharmaceutical and biotech companies develop, launch, and grow their brands. Its services span marketing and advertising, media planning and buying, medical affairs, medical communications, market access, and enterprise omnichannel solutions.
Most recently, Klick worked on Bayer’s Super Bowl TV commercial for aspirin, which aimed to address denial among Gen Xers and millennials over heart disease.
Per the announcement, Klick co-founders Leerom Segal and Aaron Goldstein will continue to lead the company they established nearly three decades ago.
“We are excited about how this new investment will help accelerate the expansion of the breadth and depth of services Klick offers to support life sciences brands in achieving their full potential,” Segal said.
The investment marks GIC’s continued push into life sciences and healthcare services while aligning with Linden’s strategy of supporting high-growth healthcare platforms.
GIC has about $800 billion of assets under management, while Linden has $12.5 billion.
“We’ve looked at every company in this space and no one comes near Klick in terms of its calibre of people, quality of work, or depth of client relationships,” Linden Capital Partners co-founder Tony Davis said.
GIC recently injected an additional $135 million into Vietnam-based paediatric and maternity clinic chain operator Nhi Dong 315. The investment brought the total capital invested by GIC in the clinic chain operator to $194 million.
