Initiate Consultancy, a Northampton-based specialist in market access and health economics, has secured new equity investment to support its next phase of growth.
The deal saw Queen’s Park Equity (QPE) invest in the business, providing capital to expand Initiate’s global market access capabilities, scale service delivery and pursue acquisitions. The transaction was led by the corporate finance team at advisory firm MHA.
Founded in 2019, Initiate advises pharmaceutical, biotechnology and medical device companies on market access and health economics and outcomes research (HEOR). The company operates from offices in Northampton, London and Zug, Switzerland, and delivers services across more than 50 countries, with a focus on oncology and rare diseases.
Its work includes health technology assessment (HTA) strategy and submissions, cost-effectiveness and budget impact modelling, evidence synthesis, payer research and value communication. The firm has completed more than 130 HTA submissions, reporting a 98% success rate, and works with more than 80 global clients.
Andrew Mumford, chief executive of Initiate, said: “Partnering with QPE represents a pivotal moment for Initiate. Their deep sector expertise and operational support will enable us to further elevate our service offering and continue to expand our global footprint. Together, we are well positioned to deliver even more impactful access solutions for our clients.”
He said the company turned to MHA when it decided to seek investment, adding: “Their deep understanding and knowledge of our sector immediately stood out.
“From the very beginning, James and his team provided exceptional support and guidance, helping us navigate what can be a complex and challenging process with clarity and confidence.
“We genuinely felt that MHA were not just advisors but trusted partners who had our best interests at heart. Thanks to their expertise and commitment, we achieved an outcome that positions our business strongly for the future.”
James Lawson, corporate finance partner at MHA, said: “Initiate leverages deep expertise in global payer regimes to help pharma and biotech clients demonstrate effectiveness and deliver groundbreaking therapies to patients who need them most.
“This partnership empowers Initiate’s exceptional leadership team to uphold its people-first culture while advancing its ambition to broaden service offerings and accelerate global expansion.”
Mark Crowley, investor at QPE, added: “Initiate Consultancy exemplifies everything we seek in an entrepreneur-led company: deep domain expertise, a clear value-creation strategy, and a client-first mindset.
“We firmly believe that as the demand for robust market access and evidence services grows, Initiate is well-positioned to become a market leader.”
The investment marks the first deal from QPE’s £305m Fund II, raised earlier in 2025. The funding will be used to support both organic growth and selective acquisitions, while maintaining Initiate’s autonomy and operating culture.
Initiate’s shareholders were advised by Freeths on legal matters, with MHA providing corporate finance and tax advice.
