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Velocity Clinical Research has agreed with Global Healthcare Opportunities to be acquired from NaviMed Capital and other investors.
FREMONT, CA: Velocity Clinical Research (Velocity), a leading integrated clinical trial site organization, recently announced that it has signed an agreement with Global Healthcare Opportunities, or GHO Capital (GHO), the European specialist investor in healthcare, to be purchased from NaviMed Capital (NaviMed) and other investors, demonstrating how the business of operating clinical trial sites are transforming.
Velocity, headquartered in Durham, North Carolina, functions in 16 fully-owned sites in 11 US states. The company primarily conducts phase II and phase III clinical trials to support biopharmaceutical and contract research organization (CRO) clients' global drug development programs. Velocity has worked with almost 200 biopharmaceutical clients in three years, including most of the top ten pharmaceutical sponsors, and its sites have conducted almost 5,000 clinical trials.
Velocity's sites are entirely integrated through a centralized infrastructure and shared technology backbone, enabling superior patient enlistment and continuous, high-quality data delivery.
The buyout of Velocity marks the next phase in the rapidly evolving clinical trial site landscape, which has traditionally been highly fragmented even after the biopharmaceutical industry spends almost $15 billion in annual investigator fees.
Dr. G. Paul Evans, Chief Executive and President of Velocity Clinical Research said, "Today's announcement signals the future for the clinical trials industry. Velocity's model was put to the test last year during the race to find a COVID vaccine, demonstrating that our integrated approach to running clinical sites is head and shoulders above others. We have been more agile and quicker to adapt in response to the needs of both CROs and patients."
"NaviMed has been a great partner for us, working with us on the direction for the company while giving our senior management team the freedom to execute on strategic decisions. The business of owning clinical trial sites is changing and its difficult for other companies to scale in this space. Our experienced team knows how to run sites and we feel that GHO is the right partner to back Velocity, as we move into our next phase of growth thanks to their experience in pharmaceutical services."