Private equity firm Samara Capital, along with Goldman Sachs and Hong Kong-based investment firm Janchor Partners formed FirstMeridian, an investment platform empowered by technology and innovation in Staffing, Managed Services, Recruitment and HR Automation. Since its inception in mid-2018, FirstMeridian has acquired three HR solution providers, namely Innovsource, V5 Global and Affluent Global cutting across various segments in the Industry.
Now the staffing firm acquihires the Talent Acquisition & Staffing business of HR Cornucopia Pvt. Ltd., a HR consulting firm that provides HR business services to leading Pharmaceutical and Healthcare firms in India for an undisclosed amount.
Ahmedali N., founder and M.D. at Cornucopia commented, ‘Firstly, Cornucopia is delighted to become part of FirstMeridian Group. Cornucopia’s domain knowledge and expertise in the Healthcare business now coupled with marketing capabilities and backend infrastructure of V5 Global (A FirstMeridian Portfolio Company), we have no doubt that Cornucopia-V5 Global will become the premier staffing and talent solution provider in the healthcare industry in India and beyond.’
Sudhakar Balakrishnan, Group CEO at FirstMeridian also welcomed the Cornucopia team.
He said, "Partnering with FirstMeridian, they can leverage our in-depth market experience, PAN India Presence and organizational strengths to penetrate deeper into the Healthcare/Pharma sector. Together, we will create a valuable, industry-focused practice."
There is no doubt that the Healthcare/Pharma sector has become critical amidst the COVID-19 crisis. With this strategic acquisition FirstMeridian is better placed to fulfil the increasing need for qualified healthcare workforce. As the sector experiences burgeoning growth, there is a need to meet the demand for skilled manpower in project management, sales, product development, R&D, legal and regulatory departments within the Pharma and Healthcare Industry. Let's see how FirstMeridian now along with the expertise of HR Cornucopia is able to maximize on the opportunity and also help bridge the talend demand and supply gap.