Water Street Completes Sale of Bioclinica
Water Street Healthcare Partners announced today that it has completed the sale of Bioclinica, Inc., one of the world’s leading providers of specialty outsourced clinical trial solutions.
Water Street’s partnership with Bioclinica began in 2013 when the health care firm completed a proprietary investment in CCBR-SYNARC. One year later, Water Street facilitated a market-leading merger between CCBR-SYNARC and Bioclinica that elevated the company to a market leader. Bioclinica completed six more strategic acquisitions that broadened and strengthened its capabilities across every major phase of clinical development.
Working with Water Street, Bioclinica expanded its customer base to encompass more than 400 of the world’s premier pharmaceutical, contract research organizations and medical device companies, including all of the top 100 pharmaceutical companies and top 10 CROs. In the past two years, Bioclinica’s revenues increased more than 60 percent and its employee population doubled to more than 2,600 people.
Peter Strothman, partner, Water Street said, “We are very pleased that our collaboration with Bioclinica achieved our goal of building its capabilities into a highly valuable business. It is gratifying to see our combined work culminate in a sale that will bring new opportunities to the company and deliver an outstanding return to our investors.”
Bioclinica is a specialty services provider that utilizes expertise and technology to create clarity in the clinical trial process. Bioclinica is organized by three business segments to deliver focused service supporting multifaceted technologies. The Medical Imaging and Biomarkers segment provides medical imaging and cardiac safety services and includes a molecular marker laboratory. The eHealth Solutions segment comprises the eClinical Solutions platform; Clinverse Financial Lifecycle Solutions; Safety and Regulatory Solutions; Strategic Consulting Services; App xChange Alliances; and eHealth Cloud Services. Under the Global Clinical Research segment, Bioclinica offers a network of research sites, patient recruitment-retention services, and a post-approval research division. The Company serves more than 400 pharmaceutical, biotechnology and device organizations – including all of the top 20 – through a network of offices in the U.S., Europe and Asia. Learn more at www.bioclinica.com.