Evolution Research Group, which is backed by Linden Capital, has acquired Staten Island, New York-based Richmond Behavioral Associates, which conducts CNS clinical trials for a broad range of illnesses. No financial terms were disclosed.
NEW PROVIDENCE, N.J., March 9, 2020 /PRNewswire/ — Evolution Research Group (“ERG”), a leading independent clinical research site company with a focus in neuroscience and other special populations, has acquired Staten Island, NY-based Richmond Behavioral Associates (“RBA”). Founded by Drs. Mark DiBuono and Adam Smith, RBA has been conducting CNS clinical trials for over 14 years across a broad range of illnesses including depression, anxiety disorders, schizophrenia, bipolar disorder, cognitive impairment, Alzheimer’s disease, and autism, in both pediatric and adult populations.
“The addition of RBA to the ERG portfolio expands our footprint in the region and allows us access to a tremendous population in NY,” said Andria Chastain, Chief Operating Officer at ERG. She continued, “Their history of delivering quality results in complex outpatient trials, particularly in children and adolescents, expands our capacity and specifically complements the capabilities of Dr. Atkinson’s team at Finger Lakes in Rochester and our inpatient pediatric PK unit at Woodland International Research Group in Little Rock.” Dr. Smith of RBA commented that, “The opportunity for growth and expansion in our geographic region is undeniable and, given ERG’s excellent reputation in the industry and their proven track record of growing portfolio sites, our investigators, Dr. DiBuono and Dr. Eli Shalenberg, firmly believe that ERG is the perfect partner to take our site to the next level.”
Michael Farah, Chairman of ERG and Partner at Linden Capital Partners, added, “Dr. DiBuono and Dr. Smith have built a high-quality organization that fits perfectly with ERG. RBA’s thoughtful growth plan aligns with ERG’s vision for the future, allowing us to further service our deep client base and continue to assist in the development of important new therapies.”
Honigman LLP and Kirkland & Ellis LLP served as legal advisors to ERG.
Nixon Peabody served as legal advisors to RBA.
About Evolution Research Group
Evolution Research Group, LLC is comprised of 13 wholly owned and operated clinical research units, and an established network of affiliated clinical research sites. ERG conducts a wide range of simple and highly complex trials in specialized populations, including those suffering from psychiatric and neurological disorders, sleep disorders, addictions, acute and chronic pain, renal insufficiency, and hepatic impairment, among others, as well as studies performed on normal healthy volunteers.
About Linden Capital Partners
Linden Capital Partners is a Chicago-based private equity firm focused exclusively on investing in the healthcare industry. Linden’s strategy is based upon three elements: i) healthcare specialization, ii) integrated private equity and operating expertise, and iii) strategic relationships with large corporations. Linden invests in middle market platforms across the medical products, specialty distribution, pharmaceutical, and services segments of healthcare. For more information, please visit www.lindenllc.com