BioIVT Acquires Fidelis Research in Fourth Acquisition of 2022

BioIVT Acquires Fidelis Research in Fourth Acquisition of 2022

BioIVT, a portfolio company of private equity firm Linden Capital Partners and formerly known as BioreclamationIVT, announced on September 26 its acquisition of Fidelis Research, a Sofia, Bulgaria-headquartered provider of biospecimen collection, laboratory processing and analysis, clinical research and patient support programs. Terms of the deal were not disclosed. With this acquisition, Westbury, New York-based BioIVT will be able to expand its support of precision medicine research in multiple therapeutic areas, most notably in oncology. Fidelis Research is an 85-site clinical biospecimen collection network in southeastern Europe. The company also has cell isolation capabilities and... Read More »
Investment Firm New Mountain Capital Buys Contract Research Organization Emmes

Investment Firm New Mountain Capital Buys Contract Research Organization Emmes

New Mountain Capital (NMC) announced that it is acquiring Emmes, a contract research organization (CRO) based in Rockville, Maryland, from Behrman Capital.  Founded in 1999, New Mountain Capital is an investment firm taht manages more than $35 billion in assets. It is based in New York City with offices in San Francisco and London. During 2021, NMC raised more than $10.2 billion in private equity funding.  Emmes serves academic institutions, government agencies, non-profit organizations, foundations and biopharmaceutical companies in more than 60 countries. Emmes has more than 1,300 employees and achieved $110 million in 2021 revenue. It was founded in 1977.  This is NMC’s... Read More »
Private Equity Firm Astorg acquires Dutch Contract Research Organization

Private Equity Firm Astorg acquires Dutch Contract Research Organization

Astorg announced on June 20 that it acquired Avania, a global, full-service MedTech contract research organization (CRO) based in the Netherlands.  Avania specializes in medical devices, technology and combination products. It was formed in March 2020 from the combination of five complementary businesses and established a platform to serve sponsors worldwide in advancing medical technology products from early development to post-market. It ensures customized, scalable solutions that optimize efficiencies and streamline the advancement of medical technology. Astorg is a global private equity firm with $15.7 billion of assets under management. Astorg partners with management teams to... Read More »
Parexel Sold in $8.5 Billion Deal

Parexel Sold in $8.5 Billion Deal

It looks like contract research organizations are still in high demand. EQT Private Equity and Goldman Sachs Asset Management Private Equity are teaming up to acquire Parexel from Pamplona Capital Management for $8.5 billion. Parexel is a leading global clinical research organization (CRO) serving sciences and biopharmaceutical clients. EQT is a purpose-driven global investment organization with more than $79 billion in assets under management across 26 active funds. Goldman Sachs Asset Management Private Equity is the primary investing area within Goldman Sachs, overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2021. This investment into Parexel will... Read More »
Thermo Fisher Bets $20 Billion on Leading CRO

Thermo Fisher Bets $20 Billion on Leading CRO

The laboratory and diagnostics giant Thermo Fisher Scientific Inc. (NYSE: TMO) announced a huge deal for an international contract research organization (CRO) last week. Thermo Fisher is buying PPD, Inc. (NASDAQ: PPD), a leading CRO providing broad, integrated drug development, laboratory and lifecycle management services. Its customers include pharmaceutical, biotechnology, medical device, academic and government organizations. The company has offices in 47 countries and more than 26,000 employees. Its headquarters is based in Wilmington, North Carolina.  Thermo Fisher is offering $17.4 billion for PPD, or $47.50 per share for the company, a premium of approximately... Read More »
CROs Are Back in Demand

CROs Are Back in Demand

Last year was not kind to contract research organizations (CROs). CROs typically provide discovery and development services to companies in the Medical Device, Pharmaceutical and Biotechnology sectors, conducting clinical trials and providing a wealth of R&D support. Demand for their services have seen a gradual rise over the last decade for a variety of reasons. An increasing number of start-ups have popped up in the Biotechnology sector, and they don’t have the resources or infrastructure that major players would have to oversee the complex R&D needed to bring a drug to market, so they often outsource much of that task to CROs. Second, big pharma and biotech are increasingly... Read More »