The Denmark-headquartered company provides specialised clinical services to pharmaceutical and biotechnology businesses across the globe, with CCBR focusing on patient recruitment and trial management and SYNARC on medical imaging services and consultation.
Water Street said the outsourced clinical development market is projected to grow by as much as five to ten per cent per year over the next five years, with pharma companies turning to specialised providers amid the global adoption of more stringent regulations and protocols.
Al Heller, a Water Street operating partner with more than 30 years of pharmaceutical experience, said, “Recruiting patients to participate in clinical trials can be a significant pain point for pharmaceutical companies and can cause costly delays in the drug development processes.
“CCBR-SYNARC stands out for its proven ability to both quickly recruit patients in targeted geographies and efficiently analyze images to support customers while increasing their clinical trial success rates.”
The deal only Water Street’s second foray into a European-based business, and brings the firm’s group of companies specialising in healthcare product and services to 12.
Water Street closed its Healthcare Partners III vehicle last July on its $750m hard cap, $100m above its original target.
The new vehicle is targeting investments of between $50m and $500m across the healthcare distribution, medical products, healthcare services and pharmaceutical sectors.
Copyright © 2013 AltAssets