Waud Capital Partners, a growth-oriented middle-market private equity firm specializing in the software and technology and healthcare sectors, announced the acquisition of Science Exchange – which is a leading provider of life sciences procurement and supplier management SaaS solutions. This deal marks a major milestone in Science Exchange’s journey and will enhance the company’s impressive performance, growth trajectory, and software capabilities. Plus, Waud Capital’s partnership will enable the company to accelerate its mission to transform the purchasing and supplier orchestration landscape for life sciences organizations.
Waud Capital’s strategic acquisition comes following a thorough evaluation of the life sciences procurement technology market, during which Science Exchange separated itself as a standout leader. And the company is distinguished by its innovative, modern cloud supplier orchestration platform, delivered through a transparent SaaS subscription model.
This platform digitizes procurement workflows, including initial supplier and product discovery, contracting and compliance management, RFP management, purchase and change orders, internal approvals, spend and pricing intelligence, and invoicing and payment. And the solution has rapidly gained traction among the scientists and procurement teams of top global pharmaceutical companies and biotech organizations as it drives substantial cost savings, streamlines supplier collaboration, and accelerates project execution.
With Waud Capital’s ownership, Science Exchange plans to expand its product portfolio, invest in innovative technologies, and elevate its market presence to reinforce its standing as the premier SaaS supplier orchestration platform in the life sciences sector. And Elizabeth Iorns, Ph.D, CEO & Co-Founder, along with Dan Knox, COO & Co-Founder, and Tzlil Hadass, Chief Revenue Officer, will retain their leadership roles, ensuring continuity for customers and stakeholders.
Houlihan Lokey acted as financial advisor to Waud Capital. And Kirkland & Ellis acted as legal counsel to Waud Capital. Union Square Advisors acted as financial advisor to Science Exchange. Fenwick & West acted as legal counsel to Science Exchange. The terms of the deal were undisclosed.
KEY QUOTES:
“With Waud Capital’s support, we are poised to further solidify our position as the premier SaaS supplier orchestration platform in the life sciences industry. Our platform has already transformed how life sciences companies work with their suppliers, and this partnership will enable us to accelerate our product innovation, drive even faster growth, and expand our impact across the industry. Waud’s proven track record in scaling technology companies, combined with their deep experience in healthcare and life sciences, make them the ideal partner to help us unlock the next phase of Science Exchange’s evolution. I am excited to work closely with the Waud team to broaden our offerings, deliver unparalleled value to our customers, and ultimately, help bring therapeutics to market more efficiently and effectively.”
- Elizabeth Iorns, Ph.D., CEO & Co-Founder of Science Exchange
“Waud Capital’s acquisition of Science Exchange is a testament to the strength of their technology and the leadership team’s vision. This partnership combines our experience investing in software, HCIT, and pharma services and aligns perfectly with our strategy of investing behind strong leaders with differentiated solutions in attractive end markets.”
- Matthew Clary, Partner at Waud Capital
“It’s rare to find procurement software that customers rave about, and that’s what impressed us the most. Forward-thinking procurement leaders are leveraging Science Exchange’s subscription model and extensible cloud platform into increasingly complex parts of their organizations, driving significant time and cost savings which they can re-invest into R&D and drug development.”
- Paul Sutphin, Principal at Waud Capital
“I am incredibly excited to join Science Exchange at this pivotal moment in its growth journey,” said Mark. “Elizabeth and Dan have built an exceptional business with a truly innovative platform that is already transforming the life sciences sector. With Waud’s backing and the strength of this talented leadership team, I am confident that Science Exchange will continue to set the standard for supplier orchestration, driving even greater value for its customers and unlocking new opportunities for growth and innovation across the industry.”
- Mark Layden, Operating Partner at Waud Capital, who will join the company as Executive Chairman
