Water Street Healthcare Partners and JLL Partners have merged their portfolio companies CCBR-SYNARC and BioClinica.
The combination creates a global provider of specialty outsourced clinical services.
JLL Partners and Water Street invested in BioClinica and CCBR-SYNARC in 2013 and reached an agreement earlier this year to combine the two companies.
The firms recruited Jeffrey McMullen, an executive with 40 years of experience in the drug development industry, to serve as chairman.
Together, BioClinica and CCBR-SYNARC offer a suite of services that support the world’s largest pharmaceutical and biotechnology companies with reducing the cost and time of global clinical trials.
“This merger creates a market leader uniquely positioned to support pharmaceutical companies with managing key components of their clinical trials,” says Peter Strothman, partner, Water Street. “Together, CCBR-SYNARC and BioClinica offer the industry’s most comprehensive clinical imaging programme across all major therapeutic areas that can interact with any contract research organisation. In addition, they offer complementary services and software solutions in the high-growth areas of patient recruitment and clinical development.”
Dan Agroskin, partner, JLL Partners, says: “Pharmaceutical and biotechnology companies are increasingly turning to outside specialists to help them manage the cost and complexities of drug development. As one entity, CCBR-SYNARC and BioClinica offer a combination of scientific expertise, clinical trial experience and advanced technologies that solve challenges across the drug development continuum. Their solutions are proven to reduce clinical trial costs, shorten drug development time, and improve data quality and compliance.”
