Healthcare communications company Lucid Group has announced that it has secured new investment from Intermediate Capital Group (ICG).
Private equity firm LDC will end its investment in Lucid after nearly four years, during which time Lucid has successfully completed two acquisitions – HealthCare21 and Bluedog.
Lucid has also expanded into new markets, including Singapore and Dubai, and also made additions to its presence in the US.
Lucid’s new investment from asset manager ICG will support its ambitions to acquire and build new capabilities, as well as attract new talent and evolve its people development offering, the health communications company said in a statement.
ICG will also support further expansion for Lucid across the globe, in particular in the US.
“This marks the start of an exciting new chapter for Lucid, which drives increased investment to help us realise our vision of transforming lives,” said Dennis O’Brien, chief executive officer, Lucid Group.
“We have a tremendous team and a great client base, and our goal is to continue to strengthen this by bringing new capabilities and more value to our partnerships. With ICG we feel we have the perfect partner who shares our vision and matches our level of ambition to transform the value we bring to our industry and to patients,” he added.
“ICG is a leading global alternative asset manager, with a long and successful track record of providing capital to support founder-led growing businesses like Lucid Group,” said Peter Kirtley, managing director, ICG.
“We have admired Lucid Group and its reputation within the industry for many years. Through our partnership, together, we can leverage Lucid’s ambition and our sector expertise to build a truly global healthcare communications organisation,” he added.