Arsenal Capital Partners announced today the acquisition of Copernicus Group Institutional Review Board, a provider of compliance services in the clinical trial process for new drugs and medical devices. Dr. Donald Deieso, Operating Partner and Co-Head of Arsenal’s Healthcare Group will become Executive Chairman of Copernicus IRB.
Earlier this year, Arsenal acquired Western Institutional Review Board, a global IRB to major research institutions. “WIRB and Copernicus will continue to serve their unique client segments through separate organizations and management,” said Dr. Deieso. “We are committed to applying Arsenal’s financial resources, executive experience, and industry relationships in assisting each company fulfill their respective growth strategies.”
Copernicus IRB, established in 1996, is a provider of federally mandated IRB panels. The primary responsibility of IRBs is to ensure that the rights and welfare of human research subjects are protected. IRBs must review and approve the handling of research protocols and study-related information before research involving human subjects can begin and throughout the study thereafter. The company, with offices in the US and affiliates in Canada, provides review services primarily to clinical research organizations (CROs) and major drug and medical device sponsors throughout North America. The company is based in Durham, NC (www.cgirb.com). “Copernicus is a highly regarded provider of critical compliance services that ensure the ethical conduct of research by global clinical research organizations. The company has a well-deserved reputation as the most technologically advanced central IRB in the world,” said Stephen McLean, a Partner at Arsenal and Co-Head of the firm’s Healthcare Group. “Our team of healthcare executives looks forward to collaborating with Copernicus in furtherance of its mission to benefit all of the constituencies that depend upon safe and effective progress of pharmaceutical research.”
Arsenal Capital Partners makes investments in middle-market specialty industrial, healthcare and financial services companies with $50 million to $400 million in enterprise value. The firm invests in niche industry sectors where it has prior experience and where its operating resources can help facilitate incremental growth and margin improvement. Industries of specific interest include: specialty & fine chemicals; segments of healthcare; transportation and logistics; power generation; aerospace & defense; process industry components and services; and financial services. Arsenal currently has $800 million of committed equity capital and is based in New York, NY (www.arsenalcapital.com).