Kunal Kadiwar

Managing Director, Europe

Kunal is a Managing Director and joined CG Results in 2016. He has over 15 years of corporate finance experience working at investment banks including Bear Stearns and Macquarie in their M&A and debt advisory teams. Prior to joining CG Results, he worked at IQVIA as a Director in the Corporate Development team, where he was responsible for the origination and execution of strategic and inorganic transactions.

Kunal has accumulated experience on a range of transactions across industry sectors, representing and advising clients that include some of the leading pharma companies, private equity funds and founder-led businesses. His focus in recent years has been on pharmaceutical outsourcing transactions including contract research and manufacturing.

He holds degrees from the London School of Economics and the University of Chicago.

In his spare time, Kunal is kept well occupied by his two young daughters and playing taxi driver over the weekend.

Success usually comes to those who are too busy to be looking for it. – Henry David Thoreau

Latest Insights

17th October 2022

MedTech Services – Drivers of growth and consolidation

Welcome to our MedTech Services Report. This sets out our views on the tailwinds driving growth and increased outsourcing, an overview of the MedTech CDMO and CRO market as well as the key drivers of consolidation in the sector. We hope that you enjoy this report and look forward to discussing the data and underlying […]

23rd February 2022

CRO Sector – M&A drivers and market trends – Q1 2022

Whilst the pandemic has caused unprecedented disruption on research and clinical trials, it has also launched the clinical trial landscape into a new area, one with the enhanced utilisation of decentralised trials and the long-awaited embracement of digital technologies to deliver improved patient care, reduced clinical trial costs and speedier outcomes. We have also seen […]

10th November 2021

CDMO Market Update

We are pleased to share with you the CDMO Market Update – November 2021, where we analyse global M&A activity and public market valuations in the CDMO sector. H1 2021 was an exceptional start to the year with 48 deals in total in the CDMO sector, almost reaching the total annual transactions in the previous four […]

18th March 2021

CRO Sector Update: March 2021

M&A and valuations in the CRO sector – March 2021 The level of impact that Covid-19 has had on M&A activity is comparable to that of the Great Financial Crisis, however, the rebound has been notably stronger. In the last year c.70 deals completed with a significant contribution from the second half of the year. […]

15th June 2020

CRO Sector Update: June 2020

The impact of COVID-19 on M&A and valuations in the CRO sectorUnsurprisingly, the CRO market, like many other sectors has been impacted markedly by the global pandemic. Global trials have been suspended as patient recruitment has become strained and operating sites closed. Pharma sponsors have begun to rethink how to adapt the drug development paradigm […]

15th May 2020

Virtual deal-making – a new normal for the M&A world

Towards a brave new “all-In” virtual deal-making world Once obligatory rituals of the investment process, the “gut check” in-person meeting between a buyer and the operator-sellers are now being replaced with video conference interviews and virtual facility tours (and the detailed physical inspection of the workplace and core scientific R&D facilities). In this paper, we […]

4th July 2019

CRO sector M&A drivers and market trends

Contract Research Organisations (CROs) typically provide discovery and development services to the pharmaceutical, biotechnology and medical devices industries (frequently referred to as sponsors), but can also support foundations, research institutions and universities. CROs co-ordinate and execute activities throughout the R&D pathway, by organising and conducting clinical trials to test the new molecule in humans. As […]

19th June 2019

The healthcare industry: primed to profit from AI and machine learning

Artificial Intelligence (AI) and machine learning in healthcare and life sciences holds the promise of reforming the industry. Generating and harnessing mass pools of data, the healthcare and life science industries are particularly primed to profit from the potential of AI, offering the unearthing of hidden insights in a world of unstructured data. Frost and […]

22nd November 2018

Private equity: changing attitudes to European healthcare

The private equity community’s interest in healthcare has been moulded by its perception of it being an evergreen industry that is resistant to economic cycles and driven by underlying fundamentals and undeniable long-term trends. The fact is, as we are living longer with an ageing population, there is an increasing prevalence of chronic diseases due […]