Fortrea Divests Assets to Arsenal Capital Partners for $345 Million 

Fortrea Divests Assets to Arsenal Capital Partners for $345 Million 

Fortrea, a Durham, North Carolina-based global contract research organization (CRO), is divesting certain assets to Arsenal Capital Partners for $345 million.   The assets being divested relate to Fortrea’s Enabling Services segment, including the businesses Endpoint Clinical and Fortrea Patient Access. In 2023, Fortrea generated revenues of about $3.11 billion compared to about $3.1 billion the previous year, according to the original press release.  Arsenal is a New York, New York-based private equity firm that specializes in investments in healthcare and industrial growth companies. Since its inception in 2000, Arsenal has raised institutional equity investment funds of more... Read More »
Veranex Acquires Atlanta-Based CRO T3 Labs

Veranex Acquires Atlanta-Based CRO T3 Labs

Veranex announced that it has acquired T3 Labs for an undisclosed price. T3 Labs is a contract research organization (CRO) in Atlanta offering preclinical testing services. The company brings devices, drugs and biologics from concept to commercialization.  Founded in 2021, Veranex is a comprehensive, global, tech-enabled service provider dedicated to the MedTech industry. Offering expert guidance from concept to commercialization and across the development continuum, Veranex enables accelerated speed to market, controlled development costs, development risk mitigation and accelerated market viability assessment. Veranex is backed by Summit Partners, Accelmed and Lauxera Capital... Read More »
Ampersand Capital Partners invests in Julius Clinical Research 

Ampersand Capital Partners invests in Julius Clinical Research 

Ampersand Capital Partners, based in Wellesley, Massachusetts, announced its acquisition of Julius Clinical Research. According to data captured in the LevinPro HC database, this acquisition is the 40th contract research organization (CRO) transaction of the year.   Based in the Netherlands, Julius Clinical Research is a leading academic clinical CRO that provides clinical trial services and real-world evidence studies to biopharma sponsors.  Founded in 1988, Ampersand is a middle-market private equity firm with more than $3 billion of assets under management dedicated to investments in the healthcare sector.  This transaction will allow Julius Clinical Research to expand... Read More »
Fortrea Divests Assets to Arsenal Capital Partners for $345 Million 

ArchiMed Expands Clinical Research Organization Portfolio 

ArchiMed announced it has acquired two clinical contract research organizations (CRO): Port Jefferson, New York-based Symbio, LLC and Proinnovera GmbH, in Munster, Germany.   According to data captured in the LevinPro HC database, this transaction marks the 37th CRO acquisition of the year. Between January 1, 2022, and November 17, 2022, there were also 37 CRO transactions announced, showing a healthy and stable CRO market.  Symbio offers expertise in proof-of-concept, medical devices and Phase 1 – Phase 4 clinical studies and has completed more than 200 clinical studies to date. Proinnovera was founded in 1997. It serves more than 100,000 patients across more than 4,500... Read More »
PE-Backed Everest Clinical Research Acquires August Research

PE-Backed Everest Clinical Research Acquires August Research

Everest Clinical Research, a portfolio company of Washington, D.C.-based private equity firm Arlington Capital Partners, announced on November 7 that it acquired Sofia, Bulgaria-based August Research.  August Research is a contract research organization (CRO) that provides clinical trial services (CTS) and pharmacovigilance services to a variety of pharmaceutical and biotechnology clients. The CRO has worked on more than 120 projects for Phase I-IV clinical trials across multiple therapeutic areas including cardiovascular, infectious disease, oncology and rare disease.  Everest Clinical Research is a full-service CRO providing a range of expertise-based clinical research services... Read More »
Fortrea Divests Assets to Arsenal Capital Partners for $345 Million 

Resolian Acquires Denali Medpharma 

Resolian, a portfolio company of Ampersand Capital Partners, announced that it acquired Denali Medpharma.  Denali Medpharma is a Chinese bioanalytical contract research organization (CRO). It is well known as the industry leader in China in the bioanalysis of oligonucleotide drugs and mRNA vaccines, liposomal drug, ultra-sensitive assays for inhalation drugs and biomarker assays.  Resolian (formerly Alliance Pharma Inc. and Drug Development Solutions Ltd.) is a CRO that specializes in advanced bioanalytical research services for small and large molecule drugs. It also specializes in drug metabolism studies to support pharmaceutical and biotechnology companies’ drug... Read More »