HSR clearance advances Altaris bid for Simulations Plus toward a second-half close

Healthcare private equity has been moving at a deliberate pace through this stretch of the deal cycle, and the regulatory calendar for software-driven biopharma tools is now moving to match. Altaris, the New York-based investment firm managing more than $9 billion in equity capital with a focus exclusively on healthcare, announced Wednesday that the Hart-Scott-Rodino waiting period has expired for its pending acquisition of Simulations Plus, Inc. (Nasdaq: SLP), clearing one of the key antitrust conditions standing between the two parties and a completed transaction.

The expiration was disclosed in an 8-K filing dated August 13, 2026. The Hart-Scott-Rodino Antitrust Improvements Act of 1976 sets the standard antitrust review mechanism for deals of this scale, and its clearance moves the transaction to its remaining gates. Two conditions still stand. Simulations Plus shareholders must vote to approve the merger. The company must also obtain certain regulatory approvals in France. Both are described in the filing as customary closing conditions, and subject to their satisfaction or waiver, the deal is currently expected to close in the second half of calendar 2026.

Sector context and the cross-border close

Simulations Plus describes itself as a global leader in model-informed and AI-accelerated drug development, offering software and consulting to biopharma clients globally to accelerate drug discovery, development, and commercialization. The company is based in Research Triangle Park, North Carolina. That category of work has attracted sustained capital interest, a trend Altaris's own record reflects: the firm has invested in more than 50 healthcare companies across subsectors since its inception in 2003, with an exclusive focus on healthcare. Acquiring SLP fits within that stated mandate.

The French regulatory approval requirement is the most unpredictable element that remains. Cross-border sign-off can move independently of any timetable the parties set, and the demand environment for regulatory clearance in Europe shifts with trade and policy conditions. On balance, Wednesday's HSR expiration removes one obstacle from a transaction still subject to a shareholder vote and a regulatory process that crosses borders. As of the August 13 filing, both remain open.