Velocity Clinical Research extended its buying tear with the acquisition of U.S.-based MedPharmics for an undisclosed price, bringing to 40 the number of clinical trial sites the CRO has that span 19 U.S. states and Europe.
More than 100 MedPharmics employees are expected to join Velocity’s current headcount of 750. MedPharmics boasts eight sites that will expand Velocity’s reach in the Southeast and Southwest U.S. and give access to diverse groups that include Native Americans and African Americans that have become part of the CRO industry’s push to include in trials. Based in the New Orleans suburb of Metairie, Louisiana, MedPharmics has facilities in Alabama, Arizona, Mississippi, New Mexico and Louisiana.
Financial terms of the deal weren’t disclosed. MedPharmics co-founders Dr. Robert Jeanfreau and Andrea Jeanfreau will “stay with Velocity post-sale,” the company said.
“We know that Sponsors and clinical research organizations (CROs) need a diverse mix of patients to take part in clinical research,” Dr. Paul Evans, Velocity’s chief executive, said in a statement. “It has a proven track record for reaching patient populations that are typically difficult to gain access to—in particular from Native American and African American communities.”
In late July, Velocity snapped up Clinical Research Hamburg, a provider of phase 2 through 4 research services in therapeutic areas including pain management, allergology, smoking cessation and hypertension, for an undisclosed price.
Last year, saw Velocity expand into South Carolina and California through the acquisition of VitaLink Research and the National Research Institute. Velocity itself was acquired last year by London healthcare venture firm GHO Capital.