Private equity firm Water Street Healthcare Partners has invested in CCBR-SYNARC, to expand its global presence in the pharmaceutical services sector.
The investment marks the health care firm's first investment from its new fund, Water Street Healthcare Partners III, L.P., which it closed last year after receiving $750m of investor commitments in less than eight weeks.
CCBR-SYNARC consists of two businesses and provides clinical services to the pharmaceutical and biotechnology companies.
Based in California,US, the SYNARC business specializes in imaging services, consultation and analysis to track progress throughout a clinical trial's life cycle while CCBR business is headquartered in Copenhagen, Denmark and recruits patients from all over the world, and conducts and manages clinical trials in its dedicated clinical centers.
Water Street Healthcare Partners operating partner Al Heller said recruiting patients to participate in clinical trials can be a significant pain point for pharmaceutical companies and can cause costly delays in their drug development processes.
"CCBR-SYNARC stands out for its proven ability to both quickly recruit patients from targeted geographies and efficiently analyze images to support customers while increasing their clinical trial success rates," Heller added.
CCBR-SYNARC, which expands Water Street's group of companies specializing in health care products and services to 12m, is also an investor in AAIPharma Services, a pharmaceutical product development services provider.
