Mount Laurel, NJ and Salt Lake City, Utah, January 12, 2011‐ In a move that brings together two of the most highly respected specialized research organizations in the United States, CRI Worldwide, LLC (CRI) today announced that it has completed the acquisition of Lifetree Clinical Research®, LC (Lifetree).
The combination enriches the early stage clinical research landscape for clients, enabling them to tap into CRI's leadership in Psychiatry and patient population studies as well as Lifetree's widely recognized expertise in Pain Management and Human Abuse Liability and its deep expertise in performing complex studies.
The acquisition greatly expands CRI's Clinical Pharmacology capacity to more than 120 beds, making CRI one of the largest providers of patient population Phase I services in the United States. The combined organization will provide sponsors with access to more than 6 million people along with a broad range of psychiatry and neurology research products and services at three research sites located in New Jersey, Pennsylvania, and Utah. Above all, clients are more easily able to draw on the expertise of two organizations that share a common culture and vision focused on patient commitment, high quality services, scientific innovation, and ground‐breaking research capabilities.
"As they seek to improve returns on research investments, drug companies and contract research organizations increasingly need clinical research sites that can offer highly specialized services and access to patient populations," said Jeffrey Kinell, President and Chief Executive Officer of the combined organization. "I am confident that the clinical and operational strength of the CRI and Lifetree teams will provide our clients with the knowledge that their clinical trials will be completed on‐time at the highest levels of quality and efficiency." Kinell continued, "One key element of the combination is that Lifetree's founders Alice Jackson,RN and Lynn Webster,MD, will remain with the company and continue to lead operations in Utah, while becoming part of the combined organization's senior management and clinical operations teams."
"As clients seek more value for their research spending, the focus and commitment of the combined CRI and Lifetree teams offers a level of service that cannot be matched. There is a pedigree of excellence at both CRI and Lifetree and the opportunity to offer more resources to our clients is exciting. The combination with CRI is the next step in our growth strategy and fulfills a long time goal for Lifetree to expand our early phase work, pain and abuse liability expertise to include psychiatry and neurology services. CRI will provide Lifetree with both the operational and financial resources to continue to do what we do best and to expand the capabilities of the Lifetree Center of Neuroscience Research" said Alice Jackson, President, Lifetree Clinical Research.
About CRI Worldwide, LLC
CRI Worldwide is a leader in clinical research with specific expertise in Psychiatry, Pediatrics, Pain, and Neurology. CRI specializes in assisting sponsors in the most complex of clinical trials by providing the highest quality services for patients and timely results to sponsors. Operating from facilities in Philadelphia and Mount Laurel, N.J., CRI conducts inpatient and outpatient clinical research trials in patients and in healthy volunteers. The CRI Phase 1 Units are located inside fully accredited medical and psychiatric hospitals. This unique hospital setting ensures the utmost care in patient safety.
CRI works with sponsors to assist them in the design and successful execution of drug development plans that expedite the successful transition to Phase II proof of concept. For additional information about CRI, visit the company's website at www.criww.com
About Lifetree Clinical Research, LC
Located in Salt Lake City, Utah and founded in 2003, Lifetree offers multi‐therapeutic Clinical Trials Management and site expertise in Phase I‐IV clinical trials in its state‐of‐the‐art 35,000‐square‐foot, 60 bed facility. As a leader in Early Stage Research (Phase I‐IV) the Lifetree clinical team specializes in Human Abuse Liability, Analgesia Pain Model Development, Sleep Medicine, and Addiction. Lifetree's facility includes an on‐site operating room and pharmacy capable of handling all scheduled (I‐IV) drugs. Lifetree's clinical services include advanced expertise in first‐in‐human/MTD, bioavailability and bioequivalence, PK/PD/proof of concept, pain model development and cerebrospinal fluid sampling. For additional information about Lifetree, visit the company's website at www.lifetreeresearch.com