Worldwide Clinical Trials Closes Fifth Deal in 12 Months
The addition of Eastern European MediQuest integrates more foreign operations to give the Jordan Co. portfolio firm expanded reach.
July 9, 2008
Worldwide Clinical Trials, the contract research organization owned by mid-market private equity firm Jordan Company, closed its fifth deal in 12 months, the company announced.
Founded in 2007 by Neal Cutler, Worldwide Clinical Trials has rapidly developed its reach to almost three dozen countries via five buys. It bought Evidence Clinical and Pharmaceutical Research LLC, which has operations in the US and Russia; Clinical Studies Management Group, Inc.; English firm Nottingham Clinical Research Limited and CEDRA Corporation.
MediQuest helps its acquirer establish a footprint in Eastern Europe.
“The acquisitions we have completed to date significantly enhance our contract research organization capabilities and our ability to manage large, global trials, within our primary therapeutic areas of focus. That in turn positions us well for future growth,” said Cutler. “We have effectively expanded our operations and significantly enhanced our ability to meet the global needs of pharma and biotech companies. Our presence in Eastern Europe and Russia, two of the most attractive growth regions for clinical trials, helps transform our business into a truly global contract research organization.”
Earlier this year, the Jordan Company wrapped up its second PE fund, valued at about $3.6 billion.
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