GP Strategies acquires IC Axon

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By Ted Liu

GP Strategies Corporation (NYSE: GPX) has acquired IC Axon, a leader in developing science-driven training for pharmaceutical and life science companies, from Brooks Capital Group and Merck Capital Ventures.

Founded in 1995 and formerly backed by Caisse de dépôt et placement du Québec (CDPQ), Montréal based IC Axon merged with MEDCASES Inc. in 2003 and with Informed Medical Communications in 2011.

GP Strategies acquired the entire share capital of IC Acquisition Corporation, a Delaware corporation, and its subsidiary, IC Axon Inc., a Canadian corporation (IC Axon), for an upfront purchase price of US $30.0 million in cash, subject to a working capital adjustment to be calculated within 90 days following the closing of the acquisition. In addition, the purchase agreement requires up to an additional US $3.5 million of consideration, contingent upon the achievement of an earnings target during a twelve-month period subsequent to the closing of the acquisition.

photo credit: IC Axon

News Release

GP Strategies Acquires IC Axon Expanding Pharmaceutical and Life Sciences Capabilities

COLUMBIA, Md. and MONTREAL, May 3, 2018 /PRNewswire/ — Global performance improvement solutions provider GP Strategies Corporation (NYSE: GPX) announced that it has acquired IC Axon, a leader in developing science-driven training for pharmaceutical and life science companies. This acquisition will strengthen GP Strategies’ ability to deliver comprehensive sales training and digital learning services to its diverse global pharmaceutical customer base.

IC Axon highlights include:

Founded in 1995 and headquartered in Montreal, Canada
Designs and deploys customized clinical and sales training solutions for global clients
A large team of in-house clinical experts, including medical writers, editors, and dedicated referencing systems managers
Award-winning visual communications team
Focused on instructional and blended learning solutions, leveraging digital innovations

“IC Axon brings deep complementary pharmaceutical learning and development expertise to the existing GP Strategies team,” stated Don Duquette, Executive Vice President, Workforce Excellence, of GP Strategies. “We can now offer our pharmaceutical customers expanded capability that delivers the best and most successful digital learning strategies. I believe that GP Strategies is now one of the most credentialed and experienced pharmaceutical sales training companies in the world.”

“The opportunity to combine with GP Strategies to create truly global, full-service pharmaceutical sales training agency is extremely exciting,” said Carole Gins, CEO of IC Axon. “We have found GP Strategies and IC Axon to be very closely aligned with respect to delivering high-quality services as a strategic partner for all our customers.”

About IC Axon
IC Axon is an industry leader that designs and develops clinical and skill-based learning solutions. Leveraging 23 years of expertise working with the pharma, biotech, medical devices and diagnostics industries, IC Axon is a strategic learning partner for success in creating and deploying customized solutions for commercial and medical teams for the US and Global markets. IC Axon’s collaborative, cross-departmental approach ensures the right learning solution meets each customer’s unique technology and deployment strategy. Their team of over 90 employees is one of the largest in-house team of experts in the industry. Working closely with client partners for many years has fostered deep understanding of each client’s methodologies and unique business needs.

About GP Strategies
GP Strategies Corporation (NYSE: GPX) is a global performance improvement solutions provider of training, digital learning strategies and solutions, management consulting, and engineering services. GP Strategies’ solutions improve the effectiveness of organizations by delivering innovative and superior training, consulting, and business improvement services, customized to meet the specific needs of its clients. Clients include Fortune 500 companies, manufacturing, process and energy industries, and other commercial and government customers.

SOURCE GP Strategies Corporation