On June 17 TPG announced that it was making a significant growth investment in K2 Medical Research.
K2 Medical Research is a leading clinical research organization (CRO) dedicated to advancing medical science through the efficient and ethical conduct of clinical trials. Its integrated clinical trial site platform specializes in central nervous system trials for leading pharma and biotech sponsor and is focused around complex therapeutic areas including Alzheimer’s, psychiatry and liver disease. The company is based in Florida and operates seven locations across the state.
TPG is a global alternative asset management firm with $137 billion of assets under management and investment and operational teams in 12 offices globally. It is based in San Francisco, California and was founded in 1992.
Foley & Lardner LLP served as legal advisor to K2. Latham & Watkins LLP served as legal counsel to TPG, and Harris Williams served as financial advisor to TPG. The financial terms of the acquisition were not disclosed.
According to data captured in the LevinPro HC database, this acquisition marks the 11th CRO deal of 2024. This is also TPG’s second transaction of the year. In January it invested in Compass Surgical Partners, a management services organization that’s based in Raleigh, North Carolina.
