Portfolio

OPEN Health is a global, multi-disciplinary provider of medical affairs services to the biopharmaceutical industry, primarily focused on medical communications and market access. The Company operates within four core business areas: Medical Communications; Patient and Brand Communications; Value, Informatics and Evidence; Consulting and Commercialization. Formed in 2011, OPEN Health has deep expertise in oncology, rare diseases and specialist medicines, while also serving clients across a range of other therapeutic areas. OPEN Health merged with Peloton Advantage, an Amulet portfolio company, in 2018. Founded in 2005, Peloton Advantage specializes in clinical-focused strategic publication planning, medical writing, health economics outcomes research and content development for medical education programs.

openhealthgroup.com

Subsector: Life Sciences Outsourcing

Headquarters: London, UK

Investment Date: February 2018

Status: Realized (Fund I, exited July 2022)

Exit: Sale to Sponsor

Business professional reviewing financial and performance documents

Investment Thesis

  • Medical Affairs identified as a high-growth, underappreciated subsector
  • Founders sought a partner to scale infrastructure and operations
  • Amulet executed targeted M&A to expand capabilities and global reach
Healthcare professionals discussing patient care in a clinical setting

Value Creation

  • Leadership: Upgraded executive team and unified brand under OPEN Health
  • Operations: Developed digital and omnichannel capabilities
  • Commercial: Established scalable business development and cross-sell strategy
  • M&A: Executed and integrated accretive acquisitions

As of November 2025. Case studies are illustrative and not a complete list; past performance is not a guarantee of future results; see Important Notices.