Privately held BioClinica watched its eClinical sales jump 51% last year, the company said, reflecting a spike in Big Pharma's adoption of new trial technologies.
The acquisitive BioClinica has spent the last few years buying up new technologies, including offerings for risk-based monitoring, electronic data collection, patient randomization and supply management. Those deals are now paying off, the company said, as BioClinica signed 25 new partnerships last year and now boasts a client roster above 150.
|BioClinica CEO John Hubbard|
"In addition to first-time clients, many existing customers expanded their use to multiple products," CEO John Hubbard said in a statement. "As the pharma and biotech industry retire outdated legacy systems, they are being replaced with BioClinica's superior alternatives which will serve them well into the future."
Hubbard, who took the reins last month, is leading an evolving company just months removed from its last merger. In June, BioClinica acquired Blueprint Clinical and its cloud-based tool for tracking and scoring clinical trial sites. That agreement came on the heels of a 2014 buyout of CCBR-Synarc that stretched BioClinica's focus to include medical imaging and specialty services for clinical trials.
In 2013, private equity firm JLL Partners bought BioClinica for $123 million and subsequently merged the company with CoreLab, owned by Ampersand Capital Partners, which kept its stake in the combined outfit. In the last merger, announced in January, CCBR-Synarc owner Water Street is hanging on to its stake in that CRO, creating a private equity trio at the reins of the new BioClinica.
- read the statement