On May 8, 2026, Certara, Inc., a global leader in model-informed drug development, completed the sale of its regulatory and medical writing business to Veristat for total consideration of up to US$135 million. The purchase price comprises US$100 million in cash at closing, subject to customary working capital and other adjustments, plus up to US$35 million in contingent earn-out tied to the future performance of the business, with up to US$15 million of the closing payment subject to escrow.
In 2025, the regulatory and medical writing business generated US$50 million in revenue and US$17 million in adjusted EBITDA, and approximately 220 employees transferred to Veristat as part of the transaction, which was structured through the sale of the equity interests of certain Certara subsidiaries conducting the business, together with certain related assets. Certara described the divestiture as sharpening its strategic focus on its Model-Informed Drug Development (MIDD) and Clinical Intelligence solutions, with the company intending to redeploy proceeds toward its core MIDD platform and the acceleration of AI-integrated modeling and simulation across the drug development lifecycle.
For Veristat, a science-first, full-service contract research organization (CRO) that advances complex therapies through to regulatory submission, the acquisition adds more than 200 regulatory and medical writing specialists and strengthens its combined capabilities in biostatistics, medical writing, and regulatory affairs. The acquisition is supported by WindRose Health Investors, LLC, a New York-based healthcare private equity firm backing Veristat's growth.
BLG acted as Canadian counsel to Certara, Inc., with a team led by Neil Hazan that included Vinay Desai and Stephen Roumeliotis (Corporate/M&A) and Stuart Aronovitch and Laura Mensch (Labour & Employment). Troutman Pepper Locke LLP acted as Certara's US legal counsel, and Perella Weinberg Partners LP served as its financial advisor. McDermott Will & Schulte acted as legal counsel to Veristat, with Guggenheim Securities, LLC serving as its financial advisor.