Clinipace Worldwide has entered a definitive merger agreement to acquire all outstanding shares of Paragon Biomedical, Inc. and its subsidiaries. The merger expands Clinipace’s therapeutic expertise, site management capabilities, and clinical operations, as well as its global footprint with offices in Irvine, CA, High Wycombe, UK, and Trivandrum, India.
“Paragon is an ideal partner to achieve our common long-term goals to drive innovation in clinical research through a technology-amplified service platform. Bringing our two companies together provides the foundation for a more compelling service offering, supported by a substantial body of work spanning 20 years, a great reputation for quality, a differentiated technology-enabled clinical operations platform, a strong site management organization, and an experienced management team,” said Jeff Williams, chief executive officer, Clinipace Worldwide.
“With complementary strengths, we’re thrilled to be combining forces with Clinipace Worldwide to create one globally integrated company,” said Gena Reed, founder and chief executive officer of Paragon Biomedical. “Moreover, the company cultures and senior leadership teams blend well, creating a corporate marriage that is ideal for our employees and customers.”
Clinipace Worldwide will now double in size to more than 430 global employees, with no layoffs planned. Ms. Reed will remain with the combined company in a strategic advisory capacity and will join the Clinipace board of directors. Mark Harvill, previously president and chief operating officer for Paragon, will now serve as chief operating officer at Clinipace Worldwide, succeeding Chris Porter, who will transition to president and general counsel. Also, Carol Abel, Paragon chief financial officer and vice president of administration, will assume the role of integration advisor.