European private equity firm Cinven announces a majority investment in contract research organization Medpace Inc., for a total consideration of $915 million plus certain cash inflows relating to the period of ownership. Medpace is a global CRO business providing management services to the R&D departments of pharma, biotech, and medical device clients to help plan and oversee their clinical trials.
Medpace focuses on small to mid-size companies and has expertise in therapeutic areas such as metabolic, cardiovascular, oncology, anti-viral/anti-infective, central nervous system, and medical devices.
Cinven’s healthcare team has been focused for some time on the CRO industry as an attractive market in which to invest. Increased R&D spend by the pharma and biotech industry, due to the growing number and complexity of clinical trials required to bring new molecules to market, is expected to fuel strong growth for the CRO industry.
Medpace is headquartered in Cincinnati, Ohio.
Release Date: February 24, 2014