Genstar has closed its merger of portfolio companies CRF Health and Bracket. Both CRF Health and Bracket are clinical research tech companies. The newly combined company will be initially named CRF Bracket.
London, United Kingdom and Wayne, Pennsylvania, USA – September 5, 2018 – CRF Health and Bracket today announced the closing of their merger, bringing together two established clinical research technology leaders. The integrated company, initially named CRF Bracket, provides sponsors and CROs with…
· Over 20 years of proven patient-centric technology solutions with deep therapeutic area expertise
· The preeminent eCOA, patient engagement and eConsent solutions
· Expert rater training, risk based monitoring and data analytics for assessment reliability and consistency
· Market-leading supply chain solutions to manage research drug delivery from manufacturing to patient
Bracket’s current CEO, Mike Nolte, will assume the role of CEO for the combined company. An experienced leadership team from both organizations will help guide the strategic direction of CRF Bracket, accelerating innovation, scaling a powerful business and staying focused on expert service for customers.
Since 2000, sponsors and CROs of all sizes, including all of the top 20 pharmaceutical companies, have trusted CRF Health and Bracket to support more than 4,000 trials across therapeutic areas.
“These two great teams coming together is a unique moment in this market, and we are moving forward to deliver compelling, dependable patient-centric technology solutions that improve the speed, reliability and insight of clinical research,” said Nolte. “We believe this is an exciting opportunity for our customers and our team, and it creates the foundation of a unified platform with actionable data and insight, highlights a group of unmatched therapeutic area experts, and delivers global scalability. We are just getting started at CRF Bracket, and as we continue to innovate and invest in our combined solutions, we will seek new ways to help our customers bring life-changing therapies to our families and communities around the world.”
David Golde, who leads Genstar’s investment in CRF Bracket, commented, “Genstar is thrilled to be sponsoring the combination of CRF Health and Bracket – two leaders in the clinical research technology industry. This transformational merger creates an unparalleled set of solutions to help customers conduct clinical trials more efficiently and with a higher probability of success. This merger also contributes to Genstar’s growing track record of building market-leading companies in the Healthcare industry.”
Philip Russmeyer, Partner at Vitruvian Partners, commented, “We have enjoyed a great partnership with CRF’s world-class management team. CRF Bracket will be a clear global leader in patient-centric clinical research solutions with an outstanding opportunity set, and we congratulate all those involved in a successful combination of the two businesses.”
CRF Bracket was formed by the acquisition of CRF Health from Vitruvian Partners by Genstar Capital (read press release), and by Genstar Capital’s acquisition of Bracket in March 2017 (read press release). To learn more, visit crfhealth.com or bracketglobal.com.
Bracket (bracketglobal.com) is a technology company that accelerates clinical research and improves the experience of patients accessing potentially life-changing therapies. Our solutions, combined with deep scientific and clinical insight, link engaged patients to researchers, provide faster, more reliable decision making, and help provide longer, healthier and more productive lives for our families and communities around the globe. Bracket has over 800 employees and delivers services in more than 90 countries to a diverse base of global customers, including 15 of the top 20 biopharma companies.
About CRF Health
CRF Health (crfhealth.com) is the leading global provider of patient-centered eSource technology solutions for the life sciences industry. With experience in more than 800 clinical trials, over 100 languages and across 74 countries, the company delivers best in class, fully integrated eSource solutions for pharma partners. Solutions include TrialMax®, an eCOA suite which consistently demonstrates the industry’s highest data accuracy, patient and site compliance, and patient retention, and TrialConsent®, the patient-centered, intuitive and interactive informed eConsent suite.
About Genstar Capital
Genstar Capital (www.gencap.com) is a leading private equity firm that has been actively investing in high quality companies for more than 25 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of approximately $10 billion and targets investments focused on targeted segments of the healthcare, financial services, software, and industrial technology industries.
About Vitruvian Partners
Vitruvian is a European growth-focused investment firm specialised in ‘dynamic situations’, where companies undergo growth and change typically driven by technology. Vitruvian helps portfolio companies scale their operations by providing an operational support system and assistance with strategic initiatives including acquisitions. Other notable investments to date include global market leaders in their field such as Just Eat, FarFetch, Skyscanner, EasyPark, Snow Software, Trustpilot, Voxbone, Callcredit, Ebury and others. The €2.4bn Vitruvian Investment Partnership III (“VIP III”) is among the largest pools of capital in Europe supporting innovative and higher growth companies. Vitruvian has backed 30 companies in its first two funds and has assets under management of c. €5 billion, operating out of offices in London, Munich, Stockholm, Luxembourg and San Francisco. More information can be found at: www.vitruvianpartners.com.