OPEN Health to acquire leading US-based life science strategy and advisory firm Acsel Health

London, U.K., Feb. 13, 2023 (GLOBE NEWSWIRE) — OPEN Health, a pre-eminent global provider of scientific communications and HEOR & market access services, announced the acquisition of Acsel Health (“Acsel”), a New York-based life science strategy and advisory firm focused on commercial strategy, pricing and market access, and commercial excellence. Acsel’s deep industry expertise, scientific rigor, and actionable analysis drives its […]

London, U.K., Feb. 13, 2023 (GLOBE NEWSWIRE) — OPEN Health, a pre-eminent global provider of scientific communications and HEOR & market access services, announced the acquisition of Acsel Health (“Acsel”), a New York-based life science strategy and advisory firm focused on commercial strategy, pricing and market access, and commercial excellence.

Acsel’s deep industry expertise, scientific rigor, and actionable analysis drives its success in providing valued partnership to life science companies. These capabilities will complement OPEN Health’s existing offering, broadening the range of services it offers to pharma and biotech companies.

Lujing Wang, Managing Partner of Acsel Health, said, “We are thrilled to join OPEN Health and to work with a wider team to solve for today’s demands and meet tomorrow’s expectations for pharma and biotech customers. With new colleagues and capabilities to partner with, we are equipped to answer the most challenging cross-disciplinary questions in life science across all key therapeutic areas.”

“Acsel is an extraordinary addition to OPEN Health. Acsel’s expert team and long-standing client relationships significantly strengthen our ability to support the commercialization of our clients’ assets and unlock access for patients.” said OPEN Health CEO, Rob Barker. “We are excited to welcome Acsel Health into the OPEN Health Group and look forward to working with our new colleagues to offer our clients innovative, scientific solutions around the globe.”

Fairmount Partners acted as exclusive financial advisor to Acsel Health. The terms of the transaction were not disclosed.

About OPEN Health

OPEN Health unites deep scientific knowledge with wide-ranging specialist expertise to unlock possibilities that improve health outcomes and patient wellbeing. Working in partnership with our clients, we embrace our different perspectives and strengths to deliver fresh thinking and solutions that make a difference. OPEN Health is a flexible global organization that solves complex healthcare challenges across HEOR and market access, medical communications and creative omnichannel campaigns. For more information on OPEN Health, visit www.openhealthgroup.com.

About Acsel Health

Acsel Health is a consulting firm that partners with renowned life science companies to guide life-changing innovations through their critical stages, from early development through market maturity. Acsel applies best-practice principles to develop and deliver highly individualized solutions to challenges across the product lifecycle for our clients. For more information on Acsel Health, visit www.acselhealth.com.

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Candice Subero
OPEN Health
candicesubero@openhealthgroup.com

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Preqin Publishes New Territory Guide: Real Estate in Saudi Arabia 2023

Dry powder reaches $537mn LONDON, Feb. 13, 2023 (GLOBE NEWSWIRE) — Preqin, the global leader in alternative assets data, tools, and insights, published its Real Estate in Saudi Arabia 2023: Preqin Territory Guide. The report shows that while fundraising for closed end real estate funds in Saudi Arabia has been slowing in recent years, there […]

Dry powder reaches $537mn

LONDON, Feb. 13, 2023 (GLOBE NEWSWIRE) — Preqin, the global leader in alternative assets data, tools, and insights, published its Real Estate in Saudi Arabia 2023: Preqin Territory Guide. The report shows that while fundraising for closed end real estate funds in Saudi Arabia has been slowing in recent years, there may be an increase in activity this year with a number of funds currently open to investment.

The Preqin Territory Guide series gives alternatives investors data-driven insight on the opportunities in a particular market or region.

Monumental investments in real estate planned in Saudi Arabia

Real estate is at the heart of Saudi Arabia’s vision of its future. The Kingdom is rich in oil revenues, but is also cultivating private finance and expertise from both domestic and international sources to deliver its Vision 2030 ambitions. Furthermore, there are developing plans for monumental investments in real estate, such as the $500bn Neom desert city project. While the asset class has long been a core component of investor portfolios in Saudi Arabia, it’s not a fully institutionalized market. Investors have plenty of options to gain exposure to the region, with access routes including real estate investment trusts (REITs), separately managed accounts (SMAs), club and direct deals, and small but ambitious private fund managers.

Offering enhanced insights into the region, Preqin is now tracking 35 real estate fund managers in Saudi Arabia. Data shows assets under management (AUM) in closed-end funds at Saudi Arabia-based managers stand at $3.2bn at the end of June 2022, with dry powder of $537mn, the majority of which is in core strategies.

The pace of fundraising might be slowing, but an increase could be on the horizon

The fundraising market in the region has slowed in recent years, with the number of private real estate funds closing annually from a peak of 11 in 2017. However, there may be an increase in activity this year, with 9 Saudi Arabia-based real estate funds currently open to investment. The largest managers in the region, as measured by funds raised over the past 10 years, are Blominvest Saudi Arabia ($1.0bn), the Investor for Securities Company ($903bn), and Jadwa Investment ($747mn), followed by Alkhabeer Capital ($375mn), Al Rajhi Capital ($336mn), Tharwat For Financial Securities ($317mn), and Albilad Capital ($304mn).

Furthermore, in terms of the prospects for international investors, with its Public Investment Fund (PIF), Saudi Arabia has an entity that can pull expertise and capital into the country. The $620bn AUM sovereign wealth fund, already one of the world’s largest investors in alternative assets, has a strategic goal to provide access to capital from the private sector and its other strategic partners, also with a view to gain exposure to international domain expertise associated with such capital.

However, while Preqin analysts believe a reversal in fundraising trends might be a possibility, it must be noted that this is a particularly opaque corner of the alternatives market and many funds that have closed in the past few years did not disclose the amount of capital they had raised.

David Lowery, SVP, Head of Research Insights, says, “We see strong fundamentals for real estate in Saudi Arabia. This is illustrated by the country’s GDP which was estimated to have increased by 8.6% in the year to Q3 2022, with inflation running at a relatively low rate of 2.5%. While real estate deal activity across all segments is constrained by a lack of supply, the hospitality sector is enjoying a post-COVID-19 boom, underpinned by the recovery in religious tourism and continued growth in entertainment and conferences.”

Key Preqin Real Estate in Saudi Arabia 2023 facts:

  • AUM: Closed-end funds’ AUM at Saudi Arabia-based managers reached $3.2bn by the end of June 2022
  • Funds: 9 Saudi Arabia-based real estate funds tracked by Preqin are currently raising capital
  • Dry powder: Preqin data shows $537mn in dry powder in closed-end real estate funds in Saudi Arabia

For more information, and to receive a full copy of the report, contact Dawn Bowles, Senior Marketing Manager, Regional Marketing, Growth Markets, at dawn.bowles@preqin.com

– Preqin Pro data covers unlisted closed-end real estate funds. The charts and tables in the report are for this segment of the real estate market in Saudi Arabia only

– All reference to ‘$’ is USD

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About Preqin

Preqin, the Home of Alternatives™, empowers financial professionals who invest in or allocate to alternatives with essential data and insight to make confident decisions. It supports them throughout the entire investment lifecycle with critical information and leading analytics solutions. The company has pioneered rigorous methods of collecting private data for 20 years, enabling more than 200,000 professionals globally to streamline how they raise capital, source deals and investments, understand performance, and stay informed. For more information visit www.preqin.com.

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Anti-polio campaign to begin in Punjab, KP, Balochistan today

Anti-polio campaign of varied duration is beginning in twenty four districts of the country on Monday.In Punjab, more than 2.8 million children up to five years age will be vaccinated against polio during a four-day drive in eight districts.In Khyber P…

Anti-polio campaign of varied duration is beginning in twenty four districts of the country on Monday.

In Punjab, more than 2.8 million children up to five years age will be vaccinated against polio during a four-day drive in eight districts.

In Khyber Pakhtunkhwa, a three-day anti-polio campaign will begin in seven districts, during which more than one point three million children will be administered anti-polio vaccine.

In Balochistan, more than one hundred twenty seven thousand children will be administered anti-polio drops during a seven day campaign in thirty seven union councils of nine districts.

Source: Radio Pakistan

Senate adjourns proceedings of house till tomorrow

Two bills were laid before the Senate today. These included: the Constitution Amendment Bill, 2023 and the Personal Data Protection Bill, 2023.The chair referred the bills to the standing committees concerned.On a point of order, Leader of Opposition S…

Two bills were laid before the Senate today. These included: the Constitution Amendment Bill, 2023 and the Personal Data Protection Bill, 2023.

The chair referred the bills to the standing committees concerned.

On a point of order, Leader of Opposition Shehzad Waseem voiced concerns over reports that the government has allowed FIA to arrest former Finance Minister Shaukat Tarin on charges of sedition.

Responding to him, Minister of State for Law Shahadat Awan said FIA is an independent institution and it has completed its inquiry as per the law. He said everybody should have confidence in law and constitution, and if a person has committed a crime, he should be awarded punishment.

On this, the opposition members resorted to rumpus and the chair adjourned the proceedings of the house till ten am tomorrow.

Source: Radio Pakistan

World Radio Day observed

World Radio Day was observed on Monday to highlight the importance of radio as a key medium of educating people, providing information and promoting freedom of expression across cultures.The theme for this year’s World Radio Day is “Radio and Peace”.On…

World Radio Day was observed on Monday to highlight the importance of radio as a key medium of educating people, providing information and promoting freedom of expression across cultures.

The theme for this year's World Radio Day is "Radio and Peace".

On this day, Pakistan Broadcasting Corporation is organizing a grand dialogue among FMs, Stream Channels and OTT platforms to discuss the emerging new digital broadcasting ecosystem at Radio Pakistan Headquarters Islamabad.

The dialogue will help shape new opportunities for the broadcasters and listeners to cope with the challenging role and scope of broadcasting industry.

The dialogue is aimed at communication, collaboration, cooperation and critical thinking for development and effectiveness of broadcasting media in the country.

Radio is an important source, of mass communication in the present era, which remains vital during war, peace, catastrophe and pandemic.

Radio Pakistan Lahore also organized a Grand Dialogue today in connection with World Radio Day.

Renowned academicians, broadcasters, Journalists, Lawyers and others segments of society addressed the ceremony.

They gave their valuable input about importance of radio in the age of electronic media.

They gave useful proposals for the revival of Radio Pakistan by modernizing itself through use of modern technology and tools.

Source: Radio Pakistan

2,000 Pakistani workers got jobs in Korea through EPS: Envoy

Around 2,000 Pakistani workers found employment in Korea through the Employment Permit System during the last year. This was stated by Ambassador of Korea to Pakistan Suh Sangpyo in a news release. The Ambassador appreciated that Pakistani…

Around 2,000 Pakistani workers found employment in Korea through the Employment Permit System during the last year.

This was stated by Ambassador of Korea to Pakistan Suh Sangpyo in a news release.

The Ambassador appreciated that Pakistani workers were getting more jobs in Korea under the Employment Permit System.

He said his embassy would cooperate to further expand the EPS project in the future.

Source: Radio Pakistan

NA speaker expresses commitment to continue struggle for women empowerment

Speaker National Assembly Raja Pervaiz Ashraf has expressed the commitment to continue struggle for the empowerment of women.He was addressing the National Convention of Women Parliamentarians in Islamabad on Monday.The speaker said women parliamentari…

Speaker National Assembly Raja Pervaiz Ashraf has expressed the commitment to continue struggle for the empowerment of women.

He was addressing the National Convention of Women Parliamentarians in Islamabad on Monday.

The speaker said women parliamentarians are playing an important role in eradicating gender inequity and empowering women in the country. He said they have also played an important role for peace and strengthening of democratic norms. Our women leaders have always stood firm against dictatorship for the promotion of democracy.

The Speaker said that Shaheed Mohtarma Benazir Bhutto was the most influential voice who waged a struggle against dictatorship.

Source: Radio Pakistan

SECP warns people to beware of unauthorized apps offering lending services

The Securities and Exchange Commission of Pakistan (SECP) has warned the public to beware of the unauthorized lending apps.According to a press release issued by the SECP, it has been observed that the apps are using the names of licensed Non-Banking F…

The Securities and Exchange Commission of Pakistan (SECP) has warned the public to beware of the unauthorized lending apps.

According to a press release issued by the SECP, it has been observed that the apps are using the names of licensed Non-Banking Finance Companies to gain public confidence in offering lending services without any regulatory approval.

The SECP advises the public to only use authorized apps offered by entities licensed to operate in Pakistan. The SECP maintains a publicly available list of licensed nonbanking fiance companies and digital lending apps.

Complaints or evidence against companies involved in unauthorized activities and illegal lending can be sent to complainats@secp.gov.pk.

Source: Radio Pakistan