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Bioclinica Acquires Clinverse

January 20, 2016

Expands into financial management solutions for clinical trials

Bioclinica, a specialty clinical trials services and technology provider, has acquired Clinverse, Inc., expanding its offerings into the growing market of automated financial management technology solutions for global clinical trials.
 
Clinverse, headquartered in Durham, NC, automates and manages the financiallifecycle of global clinical trials for CROs and pharmaceutical companies. Its suite of products pays clinical trial sites, vendors and their subjects; budgets and forecasts trial expenditures and converts tax and exchange rates in more than 200 countries and 140 currencies. Its products can be integrated with other eClinical platforms.
 
“We are delighted to add Clinverse’s capabilities to Bioclinica’s portfolio of solutions,” said Dr. John Hubbard, president and chief executive officer, Bioclinica. “Managing clinical investigator payments has been a significant challenge for our industry. For years, sponsors have manually tracked and paid clinical trial sites. Clinverse developed one of the first automated solutions to alleviate companies of this burden. The company is making a significant impact in reducing costly errors, improving satisfaction and increasing operational efficiencies to mitigate this major pain point in drug development.” 
 
Clinverse will become part of Bioclinica’s eHealth Solutions business segment, which offers technology solutions to support the management and conduct of clinical trials, as well as safety and regulatory solutions.
 
“We are excited to join Bioclinica,” said Jay Trepanier, chief executive officer, Clinverse. “This partnership will accelerate our goal of becoming the best-in-class solution for financial services in the clinical trial industry. Our relationship will allow us to strengthen our operational capabilities out of the gates, while we continue to aggressively invest in enhancing our technology and services. Our customers will benefit from becoming part of an innovative leader in the industry that offers extensive resources and services. We also look forward to bringing our specialized expertise to Bioclinica’s clients.”
 
Mr. Trepanier will continue to lead Clinverse and report to Mukhtar Ahmed, president of Bioclinica’s eHealth Solutions Segment.
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