Baker Tilly advises clinical software coding specialist Bitac on its sale to multinational IQVIA

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Integral service around a transaction
BY : Paul von KesselSeptember Tue, 2023

The acquisition of a majority stake in Bitac by the multinational IQVIA has recently been completed. Baker Tilly Advisory Services has advised the Bitac team in this transaction. 

Bitac joins a multinational group that will allow it to continue growing and IQVIA acquires a cutting-edge technology with the capacity to facilitate processes in many areas of healthcare and especially clinical laboratories.  

IQVIA acquires BITAC

Vendor: Bitac Map S.L.

Bitac, was founded in 2008 by Mireia Rodríguez and Toni Mas, with the aim of providing technological solutions for the coding and management of clinical data. 

BITAC MAP offers a SaaS platform that allows coding clinical information in several international standard terminologies, such as SNOMED CT, LOINC, ICD-10 or OMIM. The platform also allows to manage changes in terminologies, as well as to perform clinical data analysis.

From 2015 to date, the company has received prestigious awards such as the European Commission's Seal of Excellence, the Innovative SME and membership of the Barcelona Health Hub. The company is based in Barcelona and has multinational clients. After the acquisition by IQVIA the founders will continue to lead the company and its growth project.

After the acquisition by IQVIA, the founders will continue to lead the company and its growth project.

Investor: IQVIA

IQVIA is a US multinational company providing services to the health information technology and clinical research industries. It is a provider of biopharmaceutical development and commercial outsourcing services, primarily focused on Phase I-IV clinical trials and associated laboratory and analytical services, including consulting.

IQVIA was formed from the merger of Quintiles, a clinical research company founded in 1982, and IMS Health, a health information company. It is now headquartered in Durham, North Carolina, USA and has offices in more than 100 countries. The company employs more than 79,000 people worldwide.

Baker Tilly Advisory Services:

Baker Tilly has advised Bitac's founders in the negotiations with the IQVIA team. Diego Gutiérrez, a partner specialising in the technology sector, led the team. Baker Tilly Advisory Services has a team specialised in Tech M&A and has consistently ranked in the Top 10 in the global M&A market.

Baker Tilly International's corporate finance services include advising on cross-border transactions for clients doing business in multiple locations. Baker Tilly's network spans more than 145 territories, with over 41,000 people working in more than 700 offices.

Baker Tilly International is an international network of professional business services specialising in advisory, consulting, audit, tax, legal, accounting, labour and management services for SMEs and multinational companies.

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