Approved · Waiver · decided in 31 days, 20 Feb 2026
Sigrun Bidco Limited, controlled by funds advised by Francisco Partners Management, L.P., is acquiring 83% of the shares in Sermo Limited. Sermo operates a global medical social platform for healthcare professionals. This share purchase agreement involves a technology-focused investment firm acquiring the medical social platform.
Francisco Partners Management, L.P. ( Francisco Partners ) is a global investment firm specialising in technology and technology-enabled businesses, headquartered in San Francisco, United States with offices in New York and London. Francisco Partners has several portfolio companies that operate across multiple different sectors. Sermo Limited ( Sermo ) is a global medical social platform founded in the United States in 2005. Sermo enables healthcare professionals to share knowledge, obtain medical insights from peers on patient cases, access medical information and education, review and rate medicines, participate in anonymous peer consultations and collaborative crowdsourcing, and complete paid surveys to earn money. Sermo has no subsidiary, employees or other physical presence in Australia, but supplies to some Australian customers from its offshore operations. A bidding vehicle, Sigrun Bidco Limited, controlled by funds advised by Francisco Partners, is proposing to acquire 83% of the shares in Sermo through a share purchase agreement, with the remainder rolling over to Sermo’s founder / CEO.