Visit Technologyholdings.com

Technology Holdings advises Healthcare Design and Innovation Consultancy Worrell Design on its sale to Veranex

Dec 2021
Has been acquired by

MedTech Design & Innovation Consulting

View Transaction Details
Technology Holdings advises Healthcare Design and Innovation Consultancy Worrell Design on its sale to Veranex
Seller Worrell Design
Buyer Veranex
Focus Sector MedTech Design & Innovation Consulting
Date December 2021

Technology Holdings is pleased to announce the strategic sale of Worrell, a healthcare design, innovation and product engineering firm, to Summit Partners-backed Veranex Solutions.

quote We are pleased to have chosen Technology Holdings as the advisory firm to work with us to find the right strategic fit. As a design and innovation services firm that focuses exclusively on healthcare, together with Veranex we can now offer a broader array of services to meet a growing demand from our clients. This year is shaping up to be a record year for our firm and Veranex is well positioned to help us sustain and accelerate our growth trajectory. We couldn't be more pleased with the Technology Holdings team, their understanding of the market and their process that delivered such a great outcome for us.
Kai Worrell Chief Executive Officer

Headquartered in Minneapolis, with offices in London and Shanghai, Worrell provides research & strategy, digital design, product engineering and human factors consulting services to 24 of the largest 40 medical device, life sciences and biotech companies.

Technology Holdings acted as the sell side adviser to Worrell, and this is our third successful healthcare design and product engineering transaction in the last 3 years. Founded in 2021 with the acquisitions of five platform companies, Veranex is the first company exclusively focused on providing concept-to-commercialization services for medical technology companies. Together, Veranex and Worrell provide best-in-class design and engineering, market access, data management, medical device evaluation, as well as clinical, quality and regulatory expertise, to help healthcare companies develop products that bring value to patients and providers worldwide. The combined client roster includes some of the largest global medical device and life sciences companies such as Novartis, Roche, Boston Scientific and Medtronic. Worrell’s product engineering services will enable Veranex to better engage with clients during the initial phases of a product development lifecycle.

Terry Kavanaugh of Technology Holdings said, “Having recently delivered successful outcomes for other leading healthcare design firms such as Continuum (EPAM) and Insight Product Development (Nemera), we were aware of Worrell’s work and held the company in high regard. When afforded the opportunity to advise Kai and the team, we were incredibly enthusiastic as services-based M&A transactions are driven first and foremost by the quality of the people. The Worrell team is impressive and the strong level of strategic interest reflected as much. Congratulations to Kai and the entire team on the successful outcome and we look forward to supporting you as part of Veranex.”

Vivek Subramanyam, CEO of Technology Holdings said “As companies across the healthcare continuum embrace a culture of innovation to improve patient outcomes, the need for specialized digital and product engineering capabilities will continue to drive M&A appetite in the market, both from strategic and financial investors. Technology Holdings’ focus on digital transformation, design, innovation and product engineering is a differentiator for digital and human-centered design companies looking for growth opportunities.”

About Veranex
Veranex is the only truly comprehensive, global, tech-enabled service provider dedicated to the medical technology industry. Offering expert guidance from concept through to commercialization and across the development continuum, Veranex enables accelerated speed to market, controlled development costs, development risk mitigation, and accelerated market viability assessment. At every stage, Veranex customers realize efficiencies in cost and time, while its integrated and comprehensive solutions unify the entire development process. For more information, visit VeranexSolutions.com.

About Worrell
Worrell is a product design, development and strategy firm that works with 24 of the 40 largest medical device, life sciences and biopharma companies to improve lives globally through design. Worrell has expertise in product design, engineering, digital experience, human factors and FDA compliance.

Transactions
May 2023
Has been acquired by

Life Sciences Commercialization & Marketing

View Transaction Details
Technology Holdings advises The Kinetix Group, a Life Sciences Commercialization and Marketing company, on its sale to Petauri Health
Mar 2023
Technology Holdings is pleased to announce that it has acted as the exclusive financial advisor to SUAZIO, a leading data-driven Life Sciences and MedTech consultancy on its strategic sale to NAMSA, the world's leading MedTech CRO, an Archimed portfolio company headquartered in the United States.
Has been acquired by

Life Sciences & MedTech Consulting

View Transaction Details
Technology Holdings advises SUAZIO, A Data-Driven Life Sciences and MedTech Strategic Consultancy, on its strategic sale to NAMSA
Dec 2021
Has been acquired by

MedTech Design & Innovation Consulting

View Transaction Details
Technology Holdings advises Healthcare Design and Innovation Consultancy Worrell Design on its sale to Veranex
Feb 2021
Has been acquired by

Life Sciences Omnichannel Consulting & Insights IP

View Transaction Details
Technology Holdings advises Omnichannel Life Sciences leader, Across Health, on its strategic sale to Precision Medicine Group
Aug 2019
Has been acquired by

Healthcare Innovation Consulting

View Transaction Details
Technology Holdings advises healthcare innovation consultancy, Insight Product Development, on its strategic sale to Nemera
Dec 2018
Has been acquired by

Strategic Healthcare Marketing Consultancy

View Transaction Details
Technology Holdings advises leading strategic healthcare marketing consultancy, Blue Latitude Health on its strategic sale to Fishawack
Jan 2016
Has been acquired by

Healthcare Analytics Software

View Transaction Details
Technology Holdings advises SCIO Health Analytics on its acquisition of Clear Vision Information Systems
Mar 2015
Has been acquired by

Care Management & Wellness Automation

View Transaction Details
Nov 2014
Has been acquired by

Healthcare Revenue Cycle Management

View Transaction Details
Technology Holdings advises Millennium Practice Management Associates on its acquisition by Medigain Services, Inc.
Feb 2011
Has been acquired by

Health Claims Audit & Recovery

View Transaction Details
Jun 2008
Has been acquired by

Healthcare Analytics & Consulting

View Transaction Details
May 2008
Has been acquired by

Payor Subrogation

View Transaction Details
Aug 2007
Has been acquired by

Medical Billing & Practice Management

View Transaction Details
May 2005
Pvt Equity investment

Healthcare IT & BPO

View Transaction Details
Mar 2005
Has been acquired by

$23.5 Million Healthcare Payor Platform

View Transaction Details
Jul 2003
Investment from

Claims Processing

View Transaction Details