Sikich Investment Banking Advises BioBehavioral Diagnostics in its Sale to Pearson
CHICAGO, Aug. 27, 2013 /PRNewswire/ -- Sikich Investment Banking completed its most recent transaction, serving as the exclusive financial advisor to BioBehavioral Diagnostics Company (BioBDx) in its sale to Pearson, one of the world's largest publishers of educational and business information and the leader in clinical education and assessment tools. Headquartered in Plymouth Meeting, Pennsylvania, BioBDx makes and markets the Quotient® system, the first U.S. F.D.A.-cleared tool for the objective measurement of hyperactivity, impulsivity and inattention as an aid in the assessment of ADHD. The Quotient ADHD test provides quantitative analysis of motion, attention and shifts in attention states. The test quantifies the severity of deficits in brain functions related to the symptoms of ADHD and helps clinicians to accurately diagnose ADHD, as well as efficiently manage the condition using repeat assessments at critical decision points.
This acquisition marks a strategic entry into healthcare markets for Pearson, and opens a new market for BioBDx. With Pearson's support, the Quotient ADHD test will reach beyond the pediatric, neurology and psychiatry offices throughout the U.S. and expand to mental health and educational professionals.
The Sikich investment banking team was led by Rick Herbst, partner, who guided BioBDx and its Board of Directors through the acquisition process.
"Sikich was a true partner to BioBDx throughout the acquisition, from engagement to closure," said Byron Hewett, Chairman and CEO of BioBDx. "The process was remarkably efficient and the Sikich team ensured that all the critical path diligence issues were effectively addressed in a timely manner. With the support of Pearson, our team is excited about the potential for the real impact BioBDx can make for individuals living with ADHD."
Terms of the transaction were not disclosed.
BioBDx develops and markets a proprietary platform technology to objectively measure specific behaviors that correlate with brain function and deficits in inhibitory control. The Company's first product is Quotient, an FDA-cleared tool as an aid in the assessment of ADHD. The product is currently used by neurologists, pediatricians, psychiatrists and psychologists across the U.S. and supported by key opinion leaders worldwide. The Company's technology has broad applicability to other central nervous system diseases.
Pearson is the world's leading learning company, providing educational materials and services, business information through the Financial Times Group, and consumer publishing through the Penguin brand. Pearson serves learners of all ages around the globe, employing 41,000 people in more than 70 countries. For more information, visit www.pearson.com.
About Sikich Investment Banking
Based in Chicago, Sikich Investment Banking is part of Sikich LLP, a highly integrated, multidisciplinary professional services firm with more than 500 employees working out of eleven offices located throughout the country. Sikich Investment Banking is the Firm's corporate finance and advisory practice, and through its wholly-owned subsidiary, Sikich Corporate Finance LLC, a registered broker-dealer and member of FINRA/SIPC, it provides capital raising, mergers and acquisitions, and strategic advisory services tailored to middle market clients in the U.S. and abroad. The Firm's investment banking partners are known for their expertise in negotiating complicated issues and structures, and navigating through the complexities inherent in industries such as technology, life sciences, manufacturing and others. Visit Sikich Investment Banking at www.sikich.com/IB for more information.
SOURCE Sikich Investment Banking