New York-based Vesey Street Capital Partners, LLC announced that funds managed by Vesey Street have completed a majority recapitalization of Inceptua Group.
Inceptua Group is a leading provider of clinical trial supplies and related services, as well as global early access programs, with more than 25 years of specialized industry experience.
Vesey Street Capital Partners is a strategic private equity manager founded in 2014 that focuses on healthcare services. Since its inception, the firm has deployed approximately $700 million in capital.
As part of the transaction, Doug Cook, formerly Executive Vice President and President of Global Commercialization Services and Animal Health at Cencora, Inc. (formerly known as AmerisourceBergen Corporation), will be joining Inceptua as Executive Chairman and working in partnership with Vesey Street, Inceptua CEO Stefan Fraenkel and the rest of the Inceptua team. Vesey Street and affiliates contributed the equity for the transaction. McDermott Will & Emery served as legal counsel to Vesey Street.
Grant Thornton LLP assisted Vesey Street in financial due diligence. Financial terms of the deal were not disclosed.
According to data captured in the LevinPro HC database, this acquisition marks the fourth clinical trials transaction of 2024. PCM Trials, Velocity Clinical Research and GAP Innovations have also made acquisitions in the space this year. There were 42 clinical trials deals announced during 2023, a 40% increase over the 30 deals announced during 2022.
