CRA Holdings has acquired Radiant Research, a patient recruitment firm. CRA also owns Clinical Research Advantage (CRA) and plans to combine the companies under the same investment portfolio that will have 57 sites with more than 550 research professionals. The combined companies will continue to function under their respective names but will integrate and streamline certain operations.
Radiant Research focuses on recruitment for common and chronic conditions from the general population. Radiant specializes in trials that require large numbers of subjects, or complex trials that require specialized equipment or procedures. CRA recruits 85% or more participants from investigators' private practices, allowing the company to focus on trials where disease-state management is required.
"The Radiant platform will facilitate faster expansion of our model by utilizing the Radiant sites to help launch practice-based satellite locations in the cities where Radiant already has sites. We have grown CRA from seven to 37 sites in the last five years. In order for us to achieve our goal of 80 or 90 sites in the manner we have been doing would take us at least another five years. The Radiant acquisition will be the catalyst for much faster growth in the next 12 months," said Mark Hanley, chief executive officer of CRA.
"By combining the models under one umbrella, we will be able to conduct almost every type of trial, be it point of care or studies more appropriate for a stand-alone research facility," said Julie McHugh, chief executive officer of Radiant Research. "We have been looking for a partner that has a shared vision for growth without any sacrifice in quality. In CRA, we have found that partner."
CRA Holdings Acquires Radiant Research
Published November 9, 2012
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