Flourish Research has announced the acquisition of the Center for Advanced Research & Education (CARE) based in Gainesville, Georgia. CARE is a multi-therapeutic research facility dedicated to advancing innovation in healthcare through conducting phase I-IV clinical trials. Founded in 1998, CARE has conducted more than 150 clinical trials across multiple therapeutic areas.
Based in New York City, Flourish Research is a fully integrated clinical trial organization in North America. The company has sites throughout Alabama, California, Florida, Illinois, North Carolina, Pennsylvania and Texas. Flourish has conducted more than 3,700 trials across more than 15 therapeutic areas and more than 60 indications. Flourish Research was formed in 2021 by private equity firm NMS Capital. San Francisco-based private equity firm Genstar Capital announced a strategic majority investment in Flourish Research in September 2024, and NMS Capital exited its investment in November 2024.
This acquisition expands Flourish Research’s geographic footprint in the southeastern United States. Quadriga Partners acted as financial advisor to CARE. Ropes & Gray acted as legal counsel to Flourish. Financial terms of the deal were not disclosed.
This marks Flourish Research’s second deal of 2025. In February, the company acquired Diablo Clinical Research in Walnut Creek, California, for an undisclosed price. The company completed one acquisition in 2024, three each in 2023 and 2022 and one in 2021.
According to data captured in the LevinPro HC database, this transaction represents the eighth clinical trial acquisition of 2025. Other acquirers in the specialty this year include Pratia, Clario, The START Center for Cancer Research, BayPine, Voiant, Summit Clinical Research and Pinnacle Clinical Research. There were 27 clinical trial transactions announced in 2024, and 42 announced in 2023.
