Doylestown-based BioClinica may seek sale (Report)
Tom Paine
Follow @phillytechnews
Subscribe in a readerDoylestown-based BioClinica's private equity owner is exploring a sale, according to sources cited by Reuters.
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| BioClinica's eHealth unit is located in Audubon |
The clinical trial management services supplier, which was taken private in 2013 by JLL Partners for $123 million, could be valued at as much as $1.3 billion, the sources suggested to Reuters. It has apparently hired investment bank Jefferies LLC to run an auction.
Since going private, BioClinica has made several acquisitions, the most recent being its January acquisition of clinical trial payments specialist Clinverse, which was backed by Edison Partners. BioClinica is reported to have EBITDA (earnings before interest, taxes, depreciation and amortization ) in the $100 million range.
BioClinica was founded in 1990 as Bio-Imaging Technologies and has over 1200 employees, according to its website.
While several firms in the Philly area have one or more of the tools needed for clinical trials, the key to BioClinica's strategy has been to intregrate several of them.
