QHP Capital acquires ophthalmology CRO Lexitas Pharma Services

• Lexitas has conducted clinical trials for dry eye disease, glaucoma, cataract, uveitis, pediatric myopia, among others
• Lexitas was founded in 2011
• NovaQuest Private Equity invests in lower middle market healthcare companies primarily in North America.

QHP Capital, the management company for NovaQuest Private Equity, has acquired Lexitas Pharma Services, an ophthalmology contract research organization supporting biopharmaceutical and medical device clinical trials. No financial terms were dislcosed.

Since 2011, Lexitas provides end-to-end support and development expertise in the anterior and posterior segments of ophthalmology. Lexitas has conducted clinical trials for dry eye disease, glaucoma, cataract, uveitis, pediatric myopia, diabetic macular edema, age-related macular degeneration, and retinitis pigmentosa, among others.

“Lexitas is an excellent fit with QHP’s philosophy and strategy of providing strategic capital to growing clinical trial services providers in niche, specialized therapeutic areas,” said Vern Davenport and Jeff Edwards, partners at QHP, in a statement. “We look forward to supporting the Lexitas team as they continue to build out their capabilities and provide best-in-class ophthalmic drug development services.”

Additionally, Lexitas appointed Jeanne Hecht as executive chairwoman of the board. Hecht is a seasoned ophthalmology CRO industry executive having previously served as CEO of Ora, an ophthalmic CRO, where she expanded Ora’s international presence, introduced new lines of business, and furthered its goals along numerous strategic paths.

NovaQuest Private Equity invests in lower middle market healthcare companies primarily in North America.