Europe’s Charterhouse Capital Partners invests in Phastar

Phastar, with headquarters in London and North Carolina, offers statistical consulting, clinical trial reporting, data science and data management services to a global customer base of large and mid-size pharmaceutical companies.

Charterhouse Capital Partners has invested in Phastar, a provider of biostatistics and data science services for clinical trials. Founder and CEO Kevin Cain will remain a significant shareholder and continue to lead the business. Edgemont Partners advised Phastar, while Charterhouse was advised by Results Healthcare, a separate announcement said.

PRESS RELEASE

Charterhouse Capital Partners LLP (“Charterhouse”), one of the longest established private equity firms operating in Europe, announces that it has invested in PHASTAR (“the company”), a specialist provider of biostatistics and data science services for clinical trials. Charterhouse is making its investment in partnership with the company’s founder, Kevin Kane, who remains CEO and retains a significant shareholding in the business alongside its management team. Kevin and the existing management team will continue to run, manage and operate the business on a day-to-day basis.

Founded in 2007, PHASTAR is a fast growing, specialist biometrics clinical research organisation (“CRO”) offering statistical consulting, clinical trial reporting, data science and data management services to a global customer base of large and mid-size pharmaceutical companies. Headquartered in London (UK) and North Carolina (US), the business operates across an international network of 12 offices.  The business is focused on a highly attractive niche and is well-regarded by its customers for supporting them with their most critical and challenging data-related work.

Charterhouse will support the company’s existing management team with their current strategy to build the leading global, specialised biostatistics CRO through continued investment in the core business as well as selective expansion into new markets and complementary acquisitions.

As part of the transaction, Nick Edwards will become non-executive Chair of the company. Nick is currently Chair of Prescient Healthcare Group, was co-founder of Kinapse life sciences consultancy, and previously served as lead partner in Accenture’s Pharmaceutical R&D Practice. He is also a qualified medical doctor. Nick will contribute to strategic business discussions and provide a key link between the business and Charterhouse.

Kevin Kane, Founder and CEO of PHASTAR, said: “I am delighted to be partnering with Charterhouse and Nick Edwards to support PHASTAR in the next phase of its growth. This investment comes at an ideal time for the business, with growth accelerating and new offices opening in Japan and China. We are grateful for the support shown by our clients and team members over the past thirteen years, and look forward to cementing PHASTAR’s position as a partner of choice for pharmaceutical companies in their most important statistical and data projects.”

James Cocker, Partner at Charterhouse, said: “PHASTAR is a superb provider of statistical support to its clients, and operates in a very attractive industry supported by numerous long-term growth drivers. The company has an enviable reputation, amongst both pharmaceutical companies and individual statisticians, and is an excellent fit for our firm’s investment strategy. We have been particularly impressed by the relentless focus on quality and service which is core to PHASTAR’s culture. We look forward to working with Kevin and the entire PHASTAR team to capitalise on the enormous opportunity for further growth during the coming years.”

About PHASTAR

PHASTAR is a global CRO offering statistical consulting, clinical trial reporting, data management and data science services by providing expert consultants and managing and delivering in-house projects, FSP style arrangements and preferred partnerships.

PHASTAR currently has over 250 staff across 10 offices (United States, United Kingdom, Australia, Germany and Kenya) with plans to open additional locations in Asia and the West Coast of the United States to serve prospective and existing clients. PHASTAR’s number one priority is to ensure that the work we produce is of the highest quality. Every project PHASTAR undertakes utilizes our unique internal processes which are designed to ensure optimal quality.

All PHASTAR’s statistical, programming, data management and data science staff are trained in the “PHASTAR Discipline” – our in-house approach to data analysis and collection. This comprises a set of common sense (but commonly ignored) principles that, if followed, guarantee error free outcomes. The “PHASTAR Discipline” also includes a series of intranet-based checklists highlighting potential pitfalls and points-to-consider when conducting clinical trials, enabling over 2,500 years of combined technical knowledge to be shared across the company.