Friday, September 24, 2021
Elligo Health Research, a healthcare-enabling research organization powered by the novel IntElligo® technology, today announced the acquisition of ClinEdge, a research practice management and clinical services organization for clinical research sites, pharma companies, and clinical research organizations. The transaction includes GuideStar Research and BTC of New Bedford. ClinEdge delivers best-in-class site conduct and patient access solutions through highly differentiated trial acceleration strategies for clinical study programs. The acquisition adds significant global scale to Elligo which combines data, technology, and services capabilities to substantially advance the company’s mission to provide clinical research as a care option for everyone worldwide — dramatically expanding capacity for accelerated patient-centric trials through healthcare.
“The combination with ClinEdge is a transformational moment in Elligo’s evolution as a company,” said Elligo CEO John Potthoff. “Building on our access to over 150 million diverse patients with EHR data, ClinEdge provides additional global scale for our customers in the U.S. and Europe to enable the rapid acceleration of clinical trials through healthcare supporting all trial designs — traditional, hybrid, and direct-to-patient. ClinEdge customers retain their existing services, while also gaining access to Elligo’s research technology, data analytics, and accelerated trials platform. Add their full range of research practice management and clinical services, and our unified company is set to continue revolutionizing the way clinical trials are conducted from pre-identification of patients through healthcare to study enrollment, conduct, and data delivery.”
The companies bring deep knowledge and experience in the sector and an extensive network of relationships across the life sciences and healthcare continuum. “ClinEdge and Elligo have a remarkable unity of vision,” said ClinEdge co-CEO Christian Burns. “The complementary nature of our organizations makes the whole far greater than the sum of its parts and positions us to achieve the goal of accelerating clinical trials.”
“ClinEdge and Elligo have each been working toward a future where patients and physicians can connect to clinical research anywhere in the world,” said ClinEdge co-CEO Al Peters. “Coming together positions our united company to further enable clinical research as a care option, increase access, improve patient centricity, and speed up the trial process.”
The integration of Elligo and ClinEdge presents an unprecedented opportunity for technology to eliminate long-standing trial conduct pitfalls and bottlenecks that primarily impact patients’ service, accelerate research by supporting sites, improve the patient experience, and make research more accessible.
The transaction of $135 million was funded through new co-lead investors Morgan Stanley Expansion Capital (MSEC) and Ally Bridge, along with participation from Norwest Venture Partners and existing investors. “The expanded investor syndicate allows Elligo to evaluate other complementary acquisitions to add technologies and services to accelerate research, improve the patient experience, and make research more accessible,” said MSEC Managing Director Melissa Daniels, who will join Elligo’s board. “Together, Elligo and ClinEdge are best positioned to dramatically accelerate clinical trials through a combined patient-centric model.”
Perella Weinberg Partners served as financial advisor and Goodwin Procter LLP served as legal counsel to Elligo. Edgemont Partners served as exclusive financial advisor to ClinEdge.