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Edgemont Capital Partners advises Evolution Research Group on sale to Linden Capital Partners

Edgemont Capital Partners, a middle market healthcare investment bank with a focus on pharmaceutical services and M&A advisor to clinical research site companies, has advised Evolution Research Group (ERG), a portfolio company of DFW Capital Partners (DFW), on its sale to Linden Capital Partners (Linden).

ERG is the largest independent clinical research site services company focused on special populations and a leader in central nervous system (CNS) studies. David Blume, Managing Director and head of the Firm’s Pharmaceutical Services Group led the ERG transaction team.
 
Edgemont advised Thievon-Wright Consulting Group, Woodland International Research, Woodland Research Northwest and St. Louis Clinical Trials in their combined recapitalization by DFW Capital to form ERG in 2014. Edgemont subsequently advised ERG on its acquisitions of Endeavor Clinical Trials and Brain Matters Research in 2017 and Neuropsychiatric Research Center of Southwest Florida in 2018. The ERG sale is the 22nd clinical research site company transaction closed by Edgemont, and its 18th transaction for a CNS focused outsourced pharmaceutical services company.
 
“We congratulate Lori Wright, CEO, the management team and DFW on building ERG into a leading independent research site services company conducting studies in special populations, including for patients with CNS conditions, renal insufficiency, hepatic impairment, sleep disorders, pain and addiction,” says Blume. “Supported by their efforts, the Company has become a major contributor to the development of novel therapeutics to benefit patients by providing high-quality research with increased efficiency and speed. Linden’s deep pharmaceutical services expertise, experience and network make them a perfect partner for ERG. We are grateful to have had the opportunity to advise ERG in its formation, on three acquisitions and now in its sale to Linden, who is ideally suited to support the Company’s continued impressive growth.”
 
Headquartered in Watchung, New Jersey, ERG is a leading independent clinical research site business serving pharmaceutical companies and CROs, with a focus in neuroscience and other special populations. The Company is comprised of 21 highly experienced and quality-focused sites (10 wholly-owned and 11 affiliated), with over 40 principal investigators, many of whom are key opinion leaders in their field, supported by industry-leading clinical operations and business development teams. ERG has completed over 5,000 clinical trials in phases 1-4 through its outpatient and inpatient facilities, offers over 380 beds across the US, and provides access to more than 250,000 special population subjects and healthy volunteers.
 
“Edgemont has been an exceptional partner and key element to our success,” says Wright. “Their strategic insights, industry knowledge and transaction execution expertise proved invaluable to ERG’s formation, growth and value creation, and in supporting us to build an industry leading model for clinical research site services to facilitate improved drug development services for our biopharmaceutical and CRO clients. Edgemont’s M&A expertise in pharmaceutical services and the clinical research site services market in particular is beyond compare, and their commitment to ERG and our success exceeded our expectations.”

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