The Clinical investigational site market continues to get more interesting by the day. Private equity-backed Velocity Clinical Research, led by industry veteran Paul Evans, acquired more regional clinical sites, adding six of them while in the process, expanding its footprint to 10 sites in seven states. The company is executing to a strategic vision for a high impact, scaled out clinical investigational site operation that over time could rival some contract research organizations.
Emergence of a New Kind of Site?
Clinical investigational site growth and consolidation takes different forms. Some research sites seek scale via partnerships and alliances—a networked approach with separate ownership—however there could be some operational and scalability challenges with this approach in addition to the potential positive elements.
Other sites, owned and operated by physicians, are raising private equity to grow via opportunistic models—focusing on organic expansion by therapeutic area for diversification, for example. Some of these organizations may not possess deep contract research organizational experience and pedigree.
Based on our research at TrialSite News, Velocity Clinical Research appears to be guided by a strategic vision; and informed by extensive contract research organization pedigree and expertise. They appear to be quite serious about raising the bar for clinical investigational site sophistication and operational wherewithal in the market for site services. There are other “Super Sites” in the making as well. Will the rise of the Super Sites accelerate clinical investigational site consolidation?
There are many lessons learned in clinical research and we at TrialSite News are aware that the principals at Velocity Clinical Research have accumulated decades of experience. And now they appear very serious in their mission to execute on a fully owned, integrated and coordinated model for scale, efficiency and concentrated effectivity for sponsor and CRO clients.
The Latest Purchases
By acquiring Advanced Clinical Research (ACR) and Rapid Medical Research (RMR), Velocity Clinical Research adds six sites to the existing organization. The acquisition dramatically expands the company’s geographic footprint, which now extends to 10 sites in seven states. The acquisition marks the culmination of a successful 2019 for Velocity in which it has also opened a new site in Oregon and realized significant organic growth in its existing sites. The company is on target with its expansion plans and will continue to add sites in 2020.
The addition of ACR and RMR significantly expands Velocity’s ability to deliver large patient numbers to client studies as well as expanding its therapeutic reach, particularly in vaccines, where ACR and RMR have a highly successful track record over many years.
ACR and RMR
Advanced Clinical Research (ACR) has research centers in California, Idaho, Texas, Utah, and Washington. ACR, a pioneer in community based multi-therapeutic clinical research, has contributed to the development of thousands of therapeutic compounds, numerous vaccines as well as diagnostic and medical devices since 1984, serving more than 120 sponsors with a volunteer population over 350,000. Rapid Medical Research (RMR) in Cleveland, Ohio, has conducted nearly 700 clinical trials in dozens of indications and is a recognized expert in women’s health, chronic disease & vaccine trials.
Both ACR and RMR share Velocity’s mission of maximizing study enrollment and delivering the highest quality data to sponsors while focusing on industry-leading standard of patient care. They are industry leaders in the development of cutting-edge therapeutics, preventatives and diagnostic and medical devices. ACR and RMR also significantly expand Velocity Clinical’s therapeutic reach, with experienced Principal Investigators (PIs) who are board-certified in cardiology, dermatology, endocrinology, family medicine, gastroenterology, gerontology, infectious disease, internal medicine, gynecology, ophthalmology, and pediatrics.
Paul Evans, CEO, Velocity Clinical Research: “We are delighted to add ACR and RMR to the team. They bring everything we are looking for in an acquisition: clinical research expertise, commitment to best practices, fiscal health, and strong growth potential. Other acquisitions in our pipeline are equally strong. Velocity Clinical is heading into 2020 right where we want to be.”
Scott Tornblom, CEO, Advanced Clinical Research and Rapid Medical Research, said of the transaction, “We had numerous conversations with a variety of site organizations and we chose Velocity Clinical because they share our vision for the future of clinical research. Paul Evans and his team are pushing limits in the industry — optimizing current practices where there is room for improvement and cutting a new trail where it’s time to break the model. We look forward to contributing to the growth of the company & continuing to meet our mission and tradition of collaborating with industry for the improvement of healthcare and quality of life worldwide.”
About Velocity Clinical Research
Velocity Clinical Research, headquartered in Durham, N.C, is a leading site organization for clinical trials, offering dedicated site capabilities to help biopharmaceutical and contract research organization customers find the right patients for their studies. With over 20 years of experience and more than 1700 studies completed, Velocity sites have refined their patient recruitment strategies while maintaining a focus on delivering timely and reliable data quality and placing the care of the patient at the heart of everything they do. For more information, visit our website.
Call to Action: Are you a sponsor or CRO interesting in learning more about Velocity Clinical Research? Contact Blandy Fisher, 919-937-2458; [email protected]