Big news this week on the pharma front: A Doylestown-based provider of clinical trial services called BioClinica was acquired by Cinven, an equity firm out of London.
The deal, as reported by Reuters earlier this week, puts BioClinica’s valuation at an estimated $1.4 billion, according to sources with knowledge of the negotiations. This move marks BioClinica’s second acquisition, as it was previously bought in 2013 by JLL Partners. In 2014 it merged with a company called CCBR-Synarc Inc., owned by Water Street Healthcare Partners.
“We experienced tremendous growth under our prior ownership and look forward to leveraging the strategic leadership and investment that will come with Cinven,” John Hubbard, BioClinica’s president and CEO, said in a press release. “Bioclinica is on a quest to accelerate and bring clarity to clinical trials, and this move will help us to achieve these goals.”
Sounds like the clinical trials space is alive and well in the Philly area.
