Update

Bracket owner Genstar Capital to acquire CRF Health and combine companies

By Melissa Fassbender contact

- Last updated on GMT

(Image: Getty/Pinkypills)
(Image: Getty/Pinkypills)

Related tags: Bracket, Crf health, Private equity, Technology, eCOA, eConsent, Patient centricity, Clinical research

Genstar Capital, the private equity firm behind Bracket, has purchased CRF Health in a deal that will create a combined organization with more than 1,500 employees globally.

The transaction – financial terms of which were not disclosed – is expected to be completed by the end of 2018 at which time CRF Health​ will be combined with Bracket​.

The San Francisco-based private equity (PE) firm Genstar Capital purchased CRF Health from Vitruvian Partners, which has been a majority owner since 2015. 

Genstar acquired Bracket in March 2017​. It's current and previous investments in health care technology and services companies include, ERT, ConnevtiveRx, Netsmartk, and PRA International.

Rachel Wyllie, CEO of CRF Health, will become the executive chairman of the combined company.

“The combined CRF and Bracket business brings valuable solutions together to provide insight and reliable data for research, improve the patient experience, and ultimately accelerate the development of life-changing therapies," ​said Bracket CEO Mike Nolte, who will lead the combined organization and its more than 1,5000 employees worldwide.

"CRF and Bracket dovetail well with deep insight across therapeutic areas, proven software, and innovative approaches to engage patients directly,"​ he added.

Nolte said the companies are focused on refining integration plans. 

"I believe this is a pivotal moment in the combined history of these two great businesses, and our real opportunity is to grow as one exceptional and focused team,"​ he told us. "Our people are the foundation of our future success, and we will remain keenly aware of the need to help both organizations and cultures thrive as we come together."

 

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