Vince & Associates Clinical Research acquired by the Altasciences Group
Wednesday, May 15, 2013
Based in Overland Park, Kan., since 2001, Vince & Associates provides phase I-III clinical trials and has a special focus on the successful recruitment and retention of special populations in complex early clinical trials. Vince & Associates utilizes the Physician Research Model, in which study teams are led by highly experienced Principal Investigators intricately involved in all aspects of the clinical trial process.
“We continue to benefit from the industry shift toward these types of complex studies, and joining the Altasciences team will significantly enhance our capabilities while allowing us to continue the responsive delivery of quality research data to our global biopharmaceutical clients,” said Dr. Brad Vince, founder, president and medical director of Vince & Associates. Dr. Vince will continue to act as CEO and medical director.
Vince & Associates recently opened a state-of-the-art, multimillion-dollar, 90-bed clinical pharmacology unit that combines subject safety and luxury. This new unit has the upscale atmosphere necessary for the recruitment and retention of study volunteers in both short- and long-term clinical trials, from the safety and security of the controlled access unit to the added features of a movie theater and game rooms.
Altasciences is owned by Kilmer Capital Partners, which makes private equity investments in mid-sized businesses undergoing periods of rapid growth, significant change or ownership transition. Kilmer also owns Algorithme Pharma, a Montreal-based, full-service, early stage clinical CRO.
Altasciences, through its group of companies, provides early stage clinical drug development services in phase I/IIa, including the necessary support services. Its strategy is to maintain the core competencies and identity of each company and ensure they benefit from the value of being part of a larger organization operating under the Altasciences umbrella name.
Edgemont Capital Partners, a healthcare investment banking firm, acted as exclusive financial advisor to Vince & Associates. This is the ninth transaction completed by Edgemont for clinical research site services companies and one of the largest to date. Prior transactions completed by Edgemont include the sale of Miami Research Associates to QPS, the sale of California Clinical Trials to Parexel and the sale of Lifetree Clinical Research to CRI Worldwide.
According to Edgemont, this transaction is a further reflection of the significant industry demand for specialized outsourcing services on the part of large pharmaceutical and biotechnology companies.
“We are seeing strong acquisition interest in sophisticated site services companies like Vince & Associates that have unique and established access to highly desirable patient populations and a proven track record of research excellence,” said David K. Blume, co-founder and managing director at Edgemont. “Access to these populations is critical to the drug development success of pharmaceutical and biotechnology companies, and represents tremendous value.”
Terms of the deal were not disclosed.