(King of Prussia, PA; July 2, 2013) — Theorem Clinical Research, a leading contract research organization with expertise managing complex medical device and drug-device trials around the world, continues to expand its opportunities. The company, which now has offices in more than 30 countries, recently established a credit facility with GE Capital, Healthcare Financial Services to fund further growth and potential acquisitions.
"By establishing this line of credit with a top institution like GE Capital, Theorem is prepared to rapidly respond to organic or acquisition growth opportunities," said Jason Monteleone, Theorem senior vice president and chief financial officer.
"We are happy to work with a successful company like Theorem and to be able to further support expansion of the business," said Al Aria, senior managing director, GE Capital, Healthcare Financial Services, Commercial Finance.
At the end of this year's second quarter, Theorem reported:
· A 52 percent increase in total backlog since 2011
· Record revenue and EBITDA
· No long-term debt
The company's solid financial position, combined with its deep expertise in biopharmaceuticals, clinical analytics and diagnostics, puts the company in an excellent position to continue its strong growth curve. Led by an experienced leadership team, Theorem has become a leading contract research organization specializing in the management of complex clinical trials for biopharmaceuticals, medical devices and drug-device combination products.
"We are very pleased with Theorem's performance," said Chris Crosby, managing director of Nautic Partners, which purchased the company from Omnicare Inc. in 2011. "Adding the credit facility with GE Capital enables Theorem to continue its rapid growth and success."
To better understand how Theorem helps clients achieve successful results to their clinical trials, visit Theorem's website.
About Theorem Clinical Research
Theorem Clinical Research Inc. is a leading midsized provider of comprehensive clinical research and development services with offices in more than 30 countries and a customer base comprised of some of the world's top pharmaceutical, biotech and medical device companies. As a forerunner in medical device and drug-device combination trials with notable capabilities in pharmaceuticals and biologics, Theorem offers deep expertise in a broad range of therapeutic areas and in all phases of development. With some of the industry's top scientists and most advanced clinical analytics capabilities, Theorem ensures smooth-running, successful trials. For the full-service, right-size global research partner, don't think twice. THINK THEOREM.