Nordic Capital Considering Sale of ERT

(Bloomberg) -- Buyout firm Nordic Capital is considering a sale of health-care data collection company ERT Operating Co., people with knowledge of the matter said.

Nordic has held talks with potential advisers about strategic options for Philadelphia-based ERT, said the people, who asked not to be identified because they weren’t authorized to speak publicly. ERT could fetch about $2.5 billion in a sale, one of the people said. Nordic hasn’t made a final decision on whether to pursue a sale and could still elect to keep the business, they said.

A representative for ERT referred request for comment to Nordic. A spokeswoman for Nordic, with offices including Stockholm, declined to comment.

Nordic agreed to buy ERT from peer Genstar Capital in March 2016 in a deal that valued the company at about $1.8 billion. The company, which provides patient data collection solutions for use in the development of clinical pharmaceutical products, has grown via acquisitions including Biomedical Systems Corp. and iCardiac Technologies Inc. in 2017, according to its website.

Nordic, which is led by Managing Partner Kristoffer Melinder, has invested about 13 billion euros ($14.7 billion) since being founded in 1989. The company also owns stakes in air-treatment firm Munters Group AB and consumer loans and deposits company Nordax Group AB, according to its website.

To contact the reporters on this story: Kiel Porter in Chicago at kporter17@bloomberg.net;Gillian Tan in New York at gtan129@bloomberg.net

To contact the editors responsible for this story: Elizabeth Fournier at efournier5@bloomberg.net, ;Alan Goldstein at agoldstein5@bloomberg.net, Michael Hytha, Matthew Monks

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