UBC Gets Big Boost with $125 Million Growth Equity Investment
Thursday, October 8, 2009
Maryland-based contract research organization (CRO) United BioSource Corporation (UBC) received a $125-million growth equity from Berkshire Partners LLC, a Boston-based private equity firm, to support the company’s evidence-based acquisition and service offering expansion strategy.
Formed in 2003 by Ethan Leder and Mark Clein with $150 million in capital, UBC went on a CRO acquisition spree, rapidly growing to today’s 1,300 employees located in more than 20 countries.
UBC partners with life sciences companies to develop and commercialize medical products globally. The company is poised for another burst of rapid growth because it is positioned to take advantage of the federal government’s focus on comparative effectiveness research.
“With this additional capital investment, we are well-positioned to continue our targeted growth strategy recognizing that over the last six years, a steady and accelerating momentum has been building among regulators, payors, physicians and patients for new requirements and standards that go beyond FDA approval and the traditional drug development process,” said Ethan Leder, CEO of United BioSource. “These demands relate to the provision of a continuous stream of evidence of product safety, economic value and medical effectiveness in the peri- and post-approval environment. UBC was created to address these challenges and the demands of the healthcare marketplace have only intensified in recent years in this respect.”
Randy Peeler, managing director of Berkshire Partners, added, “UBC’s management team has an impressive record of successfully integrating acquisitions, creating value across business lines and servicing the world’s most progressive life sciences companies. We are excited to have a chance to partner with a clear leader and innovator in this space. We look forward to working together with UBC’s management and founding investors to help UBC capitalize on the many growth opportunities we have identified in this dynamic and demanding marketplace.”