International private equity firm, Cinven, has agreed to acquire Bioclinica, a clinical trial services and technology provider to CROs and pharmaceutical companies, from Water Street Healthcare Partners and JLL Partners. Financial terms were not disclosed.
 
Bioclinica products and services aim to improve the efficiency and productivity of clinical trials through standardization, streamlining tasks and implementing technology-enabled solutions. The company serves more than 400 pharma/biopharma and medical device clients through offices in the U.S., Europe and Asia. Bioclinica is led by chief executive officer John Hubbard.
 
Alex Leslie, partner at Cinven, said, “Cinven’s global expertise, deep industry relationships and investment experience in the healthcare industry, including the CRO sector with Medpace, make us the ideal partner for Bioclinica. This is an excellent opportunity to invest in a leading provider of technology-enabled services to the clinical trial industry with a collection of high growth businesses across the globe.  We look forward to supporting John and the exceptionally talented and experienced team at Bioclinica to develop the business in the years ahead.”
 
John Hubbard of Bioclinica said, “We are extremely excited about this new partnership with Cinven and see great things on the horizon for Bioclinica. We experienced tremendous growth under our prior ownership and look forward to leveraging the strategic leadership and investment that will come with Cinven.  Bioclinica is on a quest to accelerate and bring clarity to clinical trials, and this move will help us to achieve these goals.”
 
The transaction is subject to customary approvals. Jefferies LLC acted as exclusive financial advisor to Bioclinica for this transaction.