Early-stage development services firm Quotient Clinical has been bought by private equity organization, Bridgepoint Development Capital.
The deal – financial terms of which were not disclosed – saw Quotient Clinical separate from parent organization, Quotient Bioresearch.
Quotient Clinical Chief Executive Officer Mark Egerton said: “Working with Bridgepoint Development Capital will now provide the support to catalyse the next phase of our growth and evolution.
“Their experience in helping portfolio companies to scale will be invaluable as we endeavour to grow our business and maintain the high levels of customer satisfaction that we currently enjoy.”
This was echoed by Alan Payne, partner at Bridgepoint Development Capital, who said: “Quotient Clinical serves a substantial and growing market and there is significant opportunity to increase market penetration thanks to its combination of unique service offering, strong regulatory governance and a talented management team.”
Outsourcing-pharma.com understands that under all 200 staff employed at Quotient Clinical’s sites – an 85-bed pharmacology facility in Nottingham and a biometrics unit in Edinburgh – will be retained.
We spoke to CEO Mark Egerton in 2009 when Quotient Clinical bought the Edinburgh facility from US countract research organisation (CRO) Charles River Labs.
Quotient Clinical joins French clinic C2S, London, UK-based medical rehabilitation services centre Ansel and Swedish autism care organization on the list of healthcare firms in which Bridgepoint Development Capital has invested.
Completion of the deal follows just under a year after Quotient Bioresearch sold its bioanalytical services division to LGC in a transaction that saw all 160 staff employed at Quotient’s facility in Fordham, Cambridgeshire kept on by the new owners.
Divestiture of the clinical services arm leaves Quotient Bioresearch with its metabolism unit it gained through the acqusition of BioDynamics and a specialist radiolabelling division that developed from the Amersham Services business it bought from GE Healthcare in 2009.
Stephen Lewington managing director for Chemistry and Metabolism at Quotient Bioresearch told Outsourcing-pharma.com that: "We are delighted with the opportunity this provides for Quotient Clinical to continue to expand and look forward to continuing to collaborate closely with clinical to deliver the 14C Synthesis to Clinic platform for our mutual clients for whom it will be business as usual."