« Return to News | Miscellaneous

Private Equity Group Acquires Radiant Research to Grow the SMO Globally

Monday, June 11, 2007 10:20 AM

Bellevue, Wash.-based Radiant Research, the largest owned-model site management organization (SMO) with 26 sites, has completed a sale of the business to an ownership group led by ICICI Venture, a private equity company with $2 billion under management. Company officials said June 8th that Radiant will continue to provide development, study conduct and centralized patient recruitment services.

Radiant Research has undergone many changes lately. In May 2006, Radiant Research sold its eight phase I units to Covance for $65 million. Those phase I units generated $25 million in annual revenue. Founder and former chief executive officer Mike Lester left the company in August 2006.

“After the sale of our phase I business unit, we refocused our attention to our core business units, which consist of Radiant Research for phase II-IV study conduct services, Radiant Development for CRO services and Radiant Recruitment, which offers centralized recruitment services for the biopharmaceutical industry,” said Spaniac.

Spaniac and the management team at Radiant will remain at the company. Radiant has 400 employees and an estimated $70 million in annual revenues.

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

December 17

Medici Global says its Alzheimer's Facebook page demonstrates the need for more early detection trials

Analysts: Expect more equity purchases of CROs in 2013

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

January 2013

Parexel celebrates 30 years of change, growth
CRO's founder and chairman reflects on challenges of the past, present and future

Strategies for increasing patient diversity in trials
Sponsors look to improve racial, ethnic recruitment without going overseas

Already a subscriber?
Log in to your digital subscription.

Purchase the January issue.

Subscribe to The CenterWatch Monthly.

December 2012

Publicity, regulation tightening reins on use of KOLs
Debate rages over need to revamp how sponsors use, pay medical experts

Time may be right to makeover the investigator brochure
Size, complexity prevent critical document from being thoroughly read

Already a subscriber?
Log in to your digital subscription.

Purchase the December issue.

Subscribe to The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs

More Jobs

 

Copyright © 1995-2013 CenterWatch.