JLL Partners to Acquire BioClinica and CoreLab Partners
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JLL Partners to Acquire BioClinica and CoreLab Partners

BioClinica, a provider of clinical trial management services, has entered into an agreement to be acquired by JLL Partners.  Simultaneously, JLL Partners has also reached an agreement to acquire CoreLab Partners, a provider of medical imaging services.  The proposed acquisition of CoreLab Partners is contingent on the closing of the BioClinica transaction. Both acquisitions are expected to close concurrently.

Following the proposed acquisitions, BioClinica and CoreLab Partners will be merged to create a single provider of medical imaging services and eClinical solutions for clinical trials.  Ampersand Capital Partners, which is the majority owner of CoreLab Partners, will also be a significant investor in the combined company.  Mark Weinstein, currently President and CEO of BioClinica, will lead the combined company.

“We are excited about the tremendous promise of this business combination given the strong fundamentals of each company and the overall industry. We will conservatively capitalize the combined business and look forward to supporting its continued growth,” said Dan Agroskin, Managing Director of JLL Partners. 

CoreLab Partners’ services include medical image management, interpretation, and response assessment for clinical trials, with a particular focus on the oncology therapeutic area. CoreLab Partners provides regulatory support and digital image submission, as well as cardiac safety assessments for development programs, support for clinical studies, and equipment rental. The company also offers worldwide ambulatory blood pressure monitoring services, digital ECG services, and cardiac safety services. CoreLab Partners is based in Princeton, NJ (www.corelabpartners.com).

BioClinica is a provider of integrated, technology-enhanced clinical trial management solutions. BioClinica supports pharmaceutical and medical device innovation with imaging core lab, internet image transport, electronic data capture, interactive voice and web response, clinical trial management, and clinical supply chain forecasting and optimization solutions.  The company operates state-of-the-art, regulatory body-compliant imaging core labs on two continents, and supports worldwide eClinical and data management services from offices in the United States, Europe and Asia. The company is based in Newtown, PA (www.bioclinica.com).

JLL Partners invests in manufacturing and service industries with a particular interest in healthcare services, financial services and business services.  The firm has approximately $4 billion of capital under management and is based in New York (www.jllpartners.com).

Ampersand Capital Partners is a private equity firm that focuses on middle market growth equity investments in the healthcare sector. The firm is based in Boston (www.ampersandcapital.com). 

© 2013 PEPD • Private Equity’s Leading News Magazine • 1-30-13

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