Neither party revealed financial details about the sale, although Parthenon’s investment criteria see it generally target investments of between $20m and $80m.
Bracket’s team has worked on more than 1,100 successful trials across 47 therapeutic areas, with a particular emphasis on the central nervous system.
Parthenon managing partner David Ament, said, “We have been studying the clinical trials specialty services market for several years and believe Bracket offers a unique and highly compelling set of solutions to the industry.”
Principal Bradley Sloan added, “We believe life sciences companies will continue to increase their utilization of technology enabled solutions designed to optimize trial efficiency and ensure data integrity.
“Bracket is well positioned to further its market leadership in these areas and help increase precision in clinical trials for years to come.”
Parthenon is currently investing out of its $700m fourth fund which it closed on its hard cap last year.
Earlier this week the firm bought securities lending agent eSecLending for an undisclosed amount.
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