Edgemont Capital Completes Sale of Miami Research Associates to QPS
Edgemont Capital serves as exclusive advisor to Miami Research Associates in transaction
NEW YORK and MIAMI, Feb. 26, 2013 /PRNewswire/ — Edgemont Capital Partners, L.P., a boutique investment bank focused on the merger and acquisition advisory needs of healthcare companies, announces the sale of Miami Research Associates (“MRA”), to QPS, LLC. MRA, a multi-therapeutic provider of clinical research services for drug development focused on conducting clinical studies in patient populations, operates one of the largest clinical research centers in the United States. Edgemont Capital Partners, L.P. acted as the exclusive financial advisor to MRA. The transaction closed on December 31, 2012, and was led by David Blume, Managing Director and head of the firm’s Pharmaceutical Services Group, Luke Mitchell, a principal at the firm, and Wilmer Ho, an analyst at the firm.
“Rapidly evolving trends are transforming drug development protocols such that early stage clinical studies are increasingly being conducted in patient populations instead of healthy volunteers. This is driving outsourced pharmaceutical services providers to expand their capabilities by adding these highly specialized services in order to address the needs of their biotech and pharmaceutical sponsor clients. We believe that this trend will continue to accelerate through 2013,” said David Blume, co-founder and managing director of Edgemont Capital Partners, L.P.
Founded in 1996, MRA conducts early stage and phase II-IV clinical research studies for global and mid-sized pharmaceutical and biotech sponsors, as well as leading Contract Research Organizations (CROs), in its state-of-the-art research facility and clinical pharmacology unit in South Miami, Florida, and satellite office in Broward County, Florida. MRA’s 32 board certified physician investigators and 38 ACRP certified clinical research coordinators conduct phase I-IV clinical studies across a broad range of therapeutic areas. Dr. Howard Schwartz, MRA’s co-founder and Senior Medical Director, will continue in his current role following the transaction and will become a member of QPS’ board of directors.
“We are looking forward to partnering with a leading international provider of preclinical and clinical research services to expand the capabilities both companies offer to their clients, which now enables us to provide a comprehensive and fully integrated one-stop shopping suite of services for early stage clinical trials,” said Dr. Schwartz, M.D., “We believe QPS’ global pharmaceutical services offerings combined with MRA’s leading position in conducting clinical research studies in patient populations will allow us to provide a superior level of service to the existing clients of both companies, as well as new customers.”
“We chose to work with Edgemont after interviewing several firms. We found their level of transaction expertise and knowledge of pharmaceutical research services to be a perfect match for our advisory needs. We really appreciate the level of commitment the Edgemont team showed to our engagement and Edgemont’s work resulted in a great transaction for Miami Research Associates,” commented Eric Sheldon, MD, a co-founder and Medical Director of MRA.
QPS provides GLP/GCP-compliant preclinical and clinical research services to pharmaceutical and biotechnology clients worldwide in the areas of Drug Metabolism and Pharmacokinetics, Toxicology, Bioanalysis, Translational Medicine, and Early Stage and Phase II-IV Clinical Research. Founded by Dr. Ben Chien in 1995, QPS has Preclinical Testing and Bioanalysis facilities at its Newark, DE headquarters; and facilities in Groningen, the Netherlands; Taipei, Taiwan; and Hyderabad, India. Early-phase clinical facilities are located in Springfield, MO; Taipei, Taiwan; Groningen, the Netherlands; and Hyderabad, India. Business development offices are maintained throughout the US, Europe, and Asia.
Edgemont Capital Partners, L.P. (www.edgemontcapital.com), is a specialty investment bank founded in 2001 to focus on the advisory needs of healthcare companies worldwide. The firm’s deep healthcare industry knowledge and extensive transaction expertise allows Edgemont to address healthcare companies’ strategic advisory (M&A) and financing needs with great success. Edgemont Capital Partners, L.P. provides sell-side and acquisition advisory, restructuring advisory, board advisory and private placements services.
Investment banking services are provided by Edgemont Capital Partners, L.P., a registered broker-dealer and member of FINRA and SIPC.
SOURCE Edgemont Capital Partners, L.P.