ARCHIMED’s purchase will accelerate ActiGraph’s expansion within the complex, highly regulated global drug development industry.

Private equity healthcare specialist, ARCHIMED has acquired ActiGraph, a pioneering developer of wearable, remote monitoring technology for academic studies and drug trials. ActiGraph’s mobility and sleep tracking hardware, software and analysis solutions are the most widely used research-grade monitoring systems for activity in the world. ActiGraph’s monitoring devices resemble watches and can be worn on the wrist, waist ankle or thigh. ActiGraph’s revenues are growing 30 percent annually.

In the all-equity deal, ARCHIMED is acquiring 75 percent of ActiGraph from historic shareholders, including management. Management will retain 10 percent of the company with other historic shareholders keeping 15 percent. Financial terms were not disclosed.

Based in Pensacola, Florida and founded in 2004, ActiGraph was originally focused on providing technology for a wide range of academic studies involving the monitoring of sleep and movement. Over the last half decade, enabled by the steady refinement of its technology, ActiGraph has aggressively branched into the fast-growing field of remote activity and sleep monitoring for medical research and drug trials. The relevancy of ActiGraph’s remote monitoring – lower-cost and more scalable than non-remote monitoring of variables like ambulatory pain and sleeping patterns – has come into even greater focus as a result of the Covid-19 crisis.

“ARCHIMED has the sector expertise, industry network and financial power we need to optimize growth,” says ActiGraph President and COO, Jeremy Wyatt. “In the highly complex fields of global healthcare technology and drug development, their backing will enhance our supplier relationships, regulatory standing, product delivery capabilities, software services and product offerings.” Wyatt added, “I could not be more proud of our employees who have worked so hard to get us to this stage. Their passion, enthusiasm, and commitment to excellence are unsurpassed.”

“We’ll use our knowledge of the global healthcare industry, and more particularly of the drug research space, to help ActiGraph accelerate product development and expand, organically and through acquisition,” says ARCHIMED Partner, Robin Filmer-Wilson. “We want to bring ActiGraph’s unparalleled one-stop monitoring solutions for drug development to new areas of the pharma industry.”

ActiGraph is the fifth cross-border investment by MED II, ARCHIMED’s small-cap growth buyout fund, which raised €315 million in 2017. It follows the significant exit achieved by MED I in April, with the sale of Polyplus, and the acquisition of DHG in December by MED Platform I, ARCHIMED’s mid-market buy-and-build fund.