NovaQuest Private Equity has acquired a majority stake in Durham, North Carolina-based Catalyst Clinical Research LLC, a provider of staffing resources for the biotechnology, pharmaceutical and medical device companies for clinical trial needs. No financial terms were disclosed.
RALEIGH, N.C., Oct. 31, 2018 /PRNewswire/ — Catalyst Clinical Research, LLC (“Catalyst”), a leading provider of therapeutically-aligned, operational experts in providing solutions that address the operational needs of pharmaceutical, biotechnology, and medical device companies, today announced that the private equity group of NovaQuest Capital Management, LLC (“NovaQuest Private Equity”) has acquired a majority interest in the company.
The significant clinical, operational and financial resources of NovaQuest Private Equity will allow Catalyst to continue to provide the best possible operational resources to its clients as well as to aggressively pursue additional growth opportunities in this growing market.
“The pharmaceutical industry values innovative, cost-effective and highly collaborative solutions to address their significantly complex and critically important operational needs, said Jean Hendrickson, Co-Founder of Catalyst. “This market desires collaborative, transparent and supportive working relationships with its services providers that exceed needs, and that is what we do,” said Betsy Brown, Co-Founder. “Our clients value our philosophy and approach, and we have the opportunity to scale our business and provide even more value to these very important engagements given our new relationship with NovaQuest.”
“Catalyst is a clinical service provider that has always been in tune with the needs and objectives of its clients. The founders have a deep background in the healthcare and life-sciences industry and enjoy a stellar reputation. The team that Jean and Betsy assembled delivers outstanding results for their clients and they do so in the true spirit of partnering and collaboration,” said Guy Petrelli, Partner of NovaQuest. “The life sciences development process continues to be challenged to meet aggressive timelines and even more pressing cost pressures. Catalyst is completely in sync with these market needs and is poised for growth. We at NovaQuest Private Equity are excited about our new relationship with the Catalyst team and look forward to further enhancing their solution offerings and to accelerate the company’s growth,” said Vern Davenport, Partner of NovaQuest.
About Catalyst Clinical Research
Catalyst is a leading provider of staffing resources to the biotechnology, pharmaceutical and medical device companies for clinical trial needs. With locations in the US and UK, the company serves many global companies, providing customercentric solutions on a worldwide basis. The company was built on more than two decades of experience in assisting clients with their clinical development programs by providing therapeutically-aligned experts and teams and customized solutions. For more information, please visit www.catalystcr.com.
About NovaQuest Capital Management, LLC
NovaQuest Capital Management is a leading investor in life sciences and healthcare through our BioPharma and Private Equity strategies. NovaQuest was formed in 2000 with the vision of building an investment platform to provide strategic capital to life sciences and healthcare companies. Today, NovaQuest Capital Management manages over $1.8 billion through its BioPharma and Private Equity strategies. The investment team consists of highly seasoned professionals with significant operating and investment experience and deep life science and healthcare expertise. Furthermore, NovaQuest benefits from an extensive network of industry experts and relationships that assist in identifying, analyzing and growing portfolio companies and investments. For more information, please visit www.novaquest.com.