Nautic Partners, LLC, a private equity firm based in Providence, RI, has acquired Omnicare Clinical Research (CR) from its parent company, Omnicare, Inc. With added support from Nautic, Omnicare CR has a two-year plan to advance the company and anticipates added growth among its specialized business units including early phase, Phase II/III, late phase, medical device, technical services and pharmaceutics.
“Our new affiliation with Nautic is very exciting for all of us at Omnicare CR. This marks a new era for our business that will provide us the ability to more efficiently make vital, strategic decisions, placing us in control of our own destiny,” said Dr. James M. Pusey, president and chief executive officer of Omnicare CR. “The group in the best position to benefit from this reorganization is our current and future customer base. With our renewed strength, Omnicare CR will be able to deliver an even higher level of customer service while maintaining the teams currently in place who support our customers on a day-to-day basis.”
Nautic’s managing director, Chris Crosby, said, “It was the 900 capable, intelligent people of Omnicare CR, including James Pusey and his leadership team, who initially interested Nautic in the company as a potential investment opportunity. Once we looked at the financials, it was evident that this was a healthy company with great potential in a growing market. Nautic will fully support Omnicare CR on a strategic level and with additional capital for growth. We have complete confidence that with our added support, company leadership will maximize efforts around the great work that has already being done, adding to Omnicare CR’s profitability.”