Connect Life Sciences, a life sciences staffing firm founded in 2020 and headquartered in Orlando, FL, was recapitalized by Argosy Healthcare Partners in a transaction exclusively advised by Momentum Advisory Partners — marking the second staffing industry deal between Argosy’s Paul Barrett and Akash Taneja since 2017.
Miami, FL — July 3, 2024 — Momentum Advisory Partners, a leading M&A advisory firm focused exclusively in the staffing and solutions industry, is pleased to announce that Connect Life Sciences (“Connect”) has been recapitalized by Argosy Healthcare Partners (“Argosy”). The transaction was completed on June 21, 2024. Details were not disclosed.
Connect Life Sciences, headquartered in Orlando, Florida and founded in 2020 by Jim Owens and Andrew Doucet, provides a range of recruitment services from staff augmentation to project-based services. CLS delivers full life cycle resourcing solutions including contract staffing, contract to hire, direct placement, and consulting services across all phases of drug development, from research to regulatory affairs.
Argosy Healthcare Partners is a lower middle market private equity firm dedicated to healthcare, partnering with founder-owned healthcare businesses with $1.0–$3.0 million in EBITDA to support their culture, reinvest in their business, and help accelerate growth.
“It was a pleasure working with Jim and Andrew throughout this process. Their deep experience in the life sciences space is evident in the incredible business they’ve built in just a few years. Connect has a bright future ahead, and we believe Argosy is the ideal partner to help them achieve their full potential as a leader in the life science staffing space.”
— Akash Taneja, Founder, Momentum Advisory Partners
“In navigating the complexities of M&A transactions, it is crucial to have someone who comprehends both the financial intricacies and the human elements involved. I can unequivocally recommend Akash Taneja and Momentum Advisory Partners for their outstanding expertise and unwavering commitment.”
— Jim Owens, President and Co-Founder, Connect Life Sciences
“Connect Life Sciences, led by its founders Jim Owens and Andrew Doucet, perfectly aligns with our vision to establish a world-class healthcare staffing platform. Momentum’s deep industry knowledge and expert guidance were instrumental in bringing this deal to fruition. We’re excited about this next chapter in what we expect to be a successful partnership with the Connect Life Sciences team and look forward to working with Akash and Momentum again in the future.”
— Paul Barrett, Argosy Healthcare Partners
About the Transaction
The recapitalization of Connect Life Sciences further solidifies Momentum’s position as a leading M&A advisory firm in the staffing industry. The deal reflects Momentum’s growing track record in the life sciences and healthcare staffing segment, and the firm’s ability to identify private equity partners whose investment thesis aligns with the long-term vision of founder-led businesses.
For Connect Life Sciences, the partnership with Argosy provides access to the operational infrastructure and capital resources needed to scale a business that has demonstrated rapid growth since launching in 2020. The transaction preserves the founders’ roles and the firm’s culture while positioning it for the next phase of growth.
About Connect Life Sciences
Connect Life Sciences, headquartered in Orlando, Florida and founded in 2020 by Jim Owens and Andrew Doucet, provides a range of recruitment services from staff augmentation to project-based services. CLS delivers full life cycle resourcing solutions including contract staffing, contract to hire, direct placement, and consulting services. CLS provides these services from research to regulatory affairs with expertise in biostatistics, data management, clinical monitoring, quality assurance, IT programming, pharmacovigilance, regulatory affairs, medical writing, and real-world evidence.
About Argosy Healthcare Partners
Argosy Healthcare Partners (AHP) is a lower middle market private equity firm dedicated to healthcare. AHP partners with founder-owned healthcare businesses anywhere in the US with $1.0–$3.0 million of EBITDA and executes control transactions. AHP is a platform built for founder-owned companies to support their culture, reinvest in their business, and help accelerate growth.
About Momentum Advisory Partners
Momentum Advisory Partners is a boutique M&A advisory firm focused exclusively on the staffing and workforce solutions industry. The firm provides high-touch advisory services to founder-led and privately held firms, delivering strategic guidance and hands-on support throughout the transaction lifecycle. Since its founding in July 2020, Momentum has completed eight transactions across IT staffing, healthcare staffing, life sciences, and executive search. For more information, visit momentumadvisorypartners.com.