BayPine – a private investment firm that drives digital transformation in market-leading businesses- announced that it has entered into a definitive agreement to acquire CenExel Clinical Research, a leading clinical trial site network focused on complex therapeutic areas.
After closing the deal, BayPine will be the majority investor in CenExel alongside previous investor Webster Equity Partners, which will retain a minority stake, and company management. The terms of the transaction were not disclosed.
CenExel runs a highly differentiated, strategic clinical trial site network with deep expertise in central nervous system research and other complex, high-need therapeutic areas. The company also supports critical components of clinical development, including protocol development, patient recruitment and retention, and clinical trial operations and data collection.
With 18 locations geographically dispersed across major U.S. metro areas, CenExel is a partner to leading biopharmaceutical sponsors, having delivered superior execution and site-level performance across more than 10,000 clinical trials and 100,000 patients since inception.
The deal is subject to customary closing conditions and regulatory approvals and is expected to be completed during the second quarter of 2025.
KEY QUOTES:
“CenExel is a pioneering business at the center of a rapidly evolving clinical research landscape. As pharmaceutical sponsors continue to move toward functional outsourcing clinical research models, scaled site networks with highly differentiated capabilities such as CenExel are becoming indispensable strategic partners within the clinical development ecosystem. We look forward to working closely with management and Webster to extend the Company’s industry leading position.”
- Tom O’Rourke, Partner at BayPine
“CenExel is an ideal fit for our digital transformation strategy, with significant opportunities to bolster its data infrastructure and leverage AI-enabled tools to improve patient recruitment and site performance. By executing a range of growth initiatives, we believe CenExel is well positioned to build upon its status as the premier clinical site network and accelerate its evolution into a truly next-generation, digitally-enabled research platform.”
- Michael Attal, Principal at BayPine
“We’ve built a differentiated and resilient enterprise by focusing on providing scientific expertise and high-quality trial execution, an unwavering commitment to innovation, and adhering to the highest standards of regulatory compliance. We selected BayPine as our next long-term financial partner precisely for its thoughtful approach to scaling businesses, its unparalleled focus on leveraging cutting-edge digital tools to drive growth and efficiencies, and strong alignment of values. Through this transaction, I am confident CenExel will have even greater resources to expand our capabilities and enhance our value proposition to our customers. We thank Webster for being an invaluable partner for our business.”
– Ryan Brooks, Chief Executive Officer of CenExel
