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The Clinical Trials Industry’s Weekly News Update

Amulet Capital invests in Alliance Clinical Network in latest PE research site deal

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Private equity group Amulet Capital Partners has bought Alliance Clinical Network, citing a desire to expand the organization.

The deal – financial terms of which were not disclosed - was prompted by a desire to build on CAN’s network according to Amulet partner, Nick Amigone.

“We see a tremendous opportunity to grow and expand the platform and the exceptional team Anthony has built to position the business for long-term success.”

This was echoed by ACN, which said it “intends to strategically expand its footprint – both through continued de novo development and strategic acquisitions – while building on its strong presence in vaccines and enhancing its capabilities in other therapeutic areas.”

Dallas-headquartered ACN owns six research sites across three US states – Texas, California, and Nevada. The firm focuses on Phase II and III studies in therapeutic areas including dermatology, gastroenterology, neurology, pain, vaccines, and women’s health.

Founder and CEO, Anthony Abey, will retain a significant ownership stake in the business according to Amulet.

Last year, ACN claims to have worked on 75 clinical trials for more than 40 sponsors ranging from emerging biotechs to large pharmaceutical companies.

PE interest in site networks

Amulet has previous held investments in healthcare services firms, including US contract research organization (CRO) Synteract which it sold to Syneos Health in 2020.

The deal is the latest made by a private equity backer in a trial site network in recent times. Last year, for example, Curewell Capital acquired a major holding in the Alliance for Multispecialty Research (AMR), a US network of commercial research sites.

Similarly, in 2020, Headlands Research, a KKR company, bought the JEM Research Institute, a central nervous system (CNS) focused clinical research center and the Toronto Memory Program, a trial facility that specializes in Alzheimer’s disease studies.

According to analysis by Provident Healthcare Partners the wave of PE investments in trial sites is being driven by the fragmented nature of the sector and efforts the recognition of growing demand from drug developers.

“There has been an increasing trend of private equity involvement in the clinical research sites space due to the continued growth of outsourced pharmaceutical services and heavy fragmentation of the clinical research sites market.”


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