Velocity Clinical Research has bought VitaLink Research and the National Research Institute expanding its network of US trial sites.
The deals – financial terms of which were not disclosed – add 11 clinical trial sites on the West coast to Velocity’s existing 18 locations.
CEO Paul Evans said the acquisitions would boost Velocity's therapeutic reach and recruiting power, particularly in terms of its access to minority populations.
"Velocity has moved into the next phase of its development. We have accelerated the pace of site acquisitions this year, bringing VitaLink and NRI's experience into our fully integrated site network.
"When consolidators start buying up the consolidators, it signals a maturing market. The clinical trials site landscape is going to look very different a year from now. We anticipate most of the large site organizations will change ownership in the coming months, as large investors take an increased interest in the sector."
The takeovers follow just months after North Carolina-based Velocity was acquired by London-headquartered healthcare investor GHO Capital.
At the time, GHO said it planned to accelerate the site management organization’s growth citing industry demand for faster recruitment as a major opportunity.
GHO execs said, “It is clear from the extent to which they [Velocity] were involved in the coronavirus vaccine trials that they know how to run sites and adapt when needed.
“We believe GHO, with its exclusive focus on healthcare, is uniquely positioned to help Velocity take advantage of the opportunities now available to them, which will accelerate their growth.”
Velocity claims it was the only multi-site company in the US to conduct trials for all pharmaceutical companies included in the US Government’s coronavirus vaccine development program, “Operation Warp Speed.”
The firm says that since July 2020 it has recruited over 10,000 volunteers to coronavirus studies in the US.
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