Rockworth has advised the shareholders of Tolley, Mandy Strickson and Keith Tolley, on the sale of their business to G&L Scientific Group. Following receipt of the first LOI from G&L Scientific, Tolley engaged Rockworth to work alongside their lawyers, Penningtons Manches Cooper, to manage negotiations, due diligence, technical aspects of the deal, and the completion process.
Tolley is a specialist health economics and outcomes research (HEOR) consultancy that supports pharmaceutical and biotech companies through the health technology assessment (HTA) process and gain reimbursement for new medicines. Founded in 2008, the company provides expert support in demonstrating the clinical and cost-effectiveness of new drugs to UK HTA bodies like the National Institute for Health and Care Excellence (NICE) for England and Wales, and the Scottish Medicines Consortium (SMC) for Scotland. Their services include building economic models, conducting evidence reviews, developing strategic HTA Roadmaps, and preparing submission dossiers.
G&L Scientific is creating a group of specialist consultancies, all focused on helping life sciences companies navigate the full product lifecycle, from development and evidence generation through to regulatory approval, reimbursement, and patient access. The group’s strategy is to combine regional market access experts across Europe with strategic and operational consulting capabilities, creating an integrated service offering for international pharmaceutical, biotech, and medtech companies.
Tolley represents a strategic addition to this expanding group. Tolley is well-established in the UK and Republic of Ireland with deep market knowledge, strong client relationships, and recognised expertise in market access for rare disease medicines.
Tolley’s management team will continue to lead the business. The company’s approach and strategy will remain unchanged, but the transaction will enable Tolley to deliver additional value to its clients, through greater connectivity and integration across G&L’s specialist network.
Commenting on the transaction and Rockworth’s role in supporting the deal, Mandy Strickson said, “This is an exciting new chapter for Tolley as it sets the stage for building on the bespoke, high-quality work in UK health technology assessment we have delivered over the last 18 years, but with the collaboration of our new European partners under the leadership of G&L, we are excited to create a European Powerhouse of Market Access.
This transaction would not have been possible without the guidance, insights, and specialised expertise, throughout the process, from Lawrence Price and Zuzana Valkovic of Rockworth. They played a crucial role in negotiating terms, and structuring the deal, and they were meticulous in managing risks and conducting due diligence. More importantly, they were supportive, understanding, never judgemental, and they always had our best interests in mind. As colleagues and friends, they made the whole process seamless, and I would highly recommend them to anyone undergoing a merger or acquisition.”