EResearch Technology Inc, a portfolio company of Genstar Capital, has agreed to buy PHT Corp. No financial terms were disclosed. Jefferies LLC and Cain Brothers & Co. advised ERT on the transaction while Crosstree Capital Partners Inc was financial advisor to PHT. Headquartered in Boston, PHT helps collect patient-driven data via smartphones, tablets and the web.
SAN FRANCISCO, February 27, 2015 – Genstar Capital, a leading middle market private equity firm that focuses on investments in targeted segments of the healthcare, software, industrial technology, and financial services industries, today announced that its portfolio company eResearchTechnology, Inc. (ERT) signed a definitive agreement to acquire PHT Corporation, the eClinical innovator leading the adoption of patient-driven mobile apps for improved clinical research.
ERT is a leading global solution provider for high-quality patient-centric endpoint data collection. The transaction combines the flexible eCOA platform and world-class customer service of PHT with the market-leading clinical trial technology and service offerings of ERT, creating the most comprehensive solution for patient endpoint collection and data analytics for global clinical trials.
Roman Margolin, a Principal of Genstar, said, “Funding growth oriented strategic initiatives is a key aspect of Genstar’s investment philosophy and we are excited to support ERT in this significant acquisition.”
ERT was advised on this transaction by Jefferies LLC and Cain Brothers & Co., LLC with the funding provided by Jefferies Finance LLC and Citizens Bank, National Association. Latham & Watkins served as ERT’s outside legal counsel. Crosstree Capital Partners, Inc. served as exclusive financial advisor to PHT Corporation.
ERT (www.ert.com) is a leading provider of high-quality patient-centric endpoint data collection solutions for use in clinical drug development. ERT delivers a combination of technology, services, and consulting that increase the accuracy and reliability of patient data and improve the efficiency of the clinical development process throughout the product lifecycle. ERT delivers the most widely deployed solutions in centralized cardiac safety, respiratory services, suicide risk assessment and Clinical Outcome Assessments (COAs) – which includes patient, clinician, and observer reported outcomes as well as data analytics across the trials. By efficiently integrating these solutions through a system built upon a scientific and regulatory foundation, ERT collects, analyzes, and delivers safety and efficacy data critical to the approval, labeling, and reimbursement of pharmaceutical products. ERT is a global organization with headquarters in Philadelphia, PA and offices throughout the U.S., U.K., Japan, and Germany.
About PHT Corporation
PHT Corporation is the eClinical innovator leading the adoption of patient-driven mobile apps for improved clinical research. The PHT electronic clinical outcome assessment (eCOA) system collects and reports secure real-time patient data from the latest mobile devices. PHT scientific, regulatory and technological expertise combined with quality outcomes data enable clients to make research decisions with confidence. Sponsors and CROs have leveraged the PHT Patient Suite in 750+ trials resulting in 22 regulatory approvals. PHT is headquartered in Boston and an office in Geneva
About Genstar Capital, LLC
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 20 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of operating executives and strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of over $3 billion and targets investments focused on selected sectors within the healthcare, software, industrial technology, and financial services industries.