CenExel Acquires iResearch
May 4, 2022
Salt Lake City, Utah – May 3, 2022 – CenExel announces the acquisition of iResearch (“CenExel iResearch”), a leading multi-specialty research site business with locations in Decatur, GA and Savannah, GA. CenExel iResearch has deep experience conducting Phase I-IV studies, having supported more than 200 clinical trials in both the inpatient and outpatient setting. The primary therapeutic areas served by CenExel iResearch include Psychiatry (Depression, Bipolar Disorder, Schizophrenia), Neurology (Alzheimer’s Disease, Dementia, Sleep), Vaccine, Women’s Health, and Dermatology studies.
The acquisition of CenExel iResearch further strengthens CenExel’s leading central nervous system (“CNS”) trial capabilities in the Psychiatry and Neurology therapeutic areas, while also bolstering CenExel FCR’s Dermatology expertise. CenExel iResearch’s Decatur location in northeast Atlanta is also highly complementary to CenExel ACMR in west Atlanta, extending CenExel’s patient reach within one of the largest metropolitan areas in the U.S., while CenExel iResearch’s Savannah location further expands CenExel throughout Georgia.
CenExel iResearch operates in over 30,000 square feet of state-of-the-art clinical research space, including a 40-bed, 10,000 square foot inpatient unit in Atlanta. CenExel iResearch is led by co-founders Heather Beitz and Sara Castle, who serve as CEO and COO, respectively. Dr. Kimball Johnson serves as the organization’s Medical Director, with 30+ years of experience, as part of the CenExel iResearch team of 10 principal investigators. Zach Mitchell serves as the organization’s Director of Business Development, leading both sales and strategic operations, and will serve in a similar capacity with CenExel iResearch moving forward.
The CenExel Centers of Excellence clinical research site network now comprises 15 of the most proficient clinical research sites in the country, with special emphases on Psychiatry, Neurology, Pain, Vaccines/Immunology, Dermatology, Ethnic-Bridging, Sleep, and Clinical Pharmacology. Each of the CenExel research units has outstanding records of assisting pharmaceutical sponsors with protocol development, study design, and conducting Phase I-IV trials to develop new therapeutics for improved patient care.
CenExel iResearch will benefit from the CenExel site network’s fully integrated and collaborative processes, which include centralized budgeting, business development, contracting, standard operating procedures, rater training, and quality management, among other functions.
“The CenExel iResearch team has a long track record of delivering outstanding patient recruitment, retention, and high-quality clinical data on behalf of patients and Sponsors alike,” said Tom Wardle, CenExel CEO. “We are thrilled to be partnering with Heather Beitz, Sara Castle, Dr. Johnson, and the entire CenExel iResearch team to further strengthen the CenExel network.”
“CenExel has an exceptional team of clinical trial and CNS-focused research experts,” said Heather Beitz, CenExel iResearch CEO, and Sara Castle, CenExel iResearch COO. “We’re excited to leverage CenExel’s site network infrastructure to pursue future growth opportunities together and serve more patients throughout Georgia.”
CenExel was formed in 2018, and since its formation, has strategically invested to support organic growth in its centers of excellence, while also pursuing acquisitions of state-of-the-art research centers across the U.S. The mission of CenExel is to work with trial Sponsors and Contract Research Organizations to drive efficiencies in clinical research, while reducing the costs and development timelines for innovative therapies to advance patient care.
Edgemont Partners acted as the exclusive sell-side financial advisor to iResearch in the transaction.
Media Contact: media@CenexelResearch.com
About CenExel
CenExel (www.CenExel.com) provides unparalleled medical and scientific support in the design and execution of clinical trials. Our therapeutic area focus, attention to detail, and auxiliary services assure quality, reliable results and help CenExel consistently achieve and exceed patient recruitment goals. CenExel Centers of Excellence have conducted thousands of studies, the variety and complexity of which have resulted in a vast depth of experience and insight for the Principal Investigators and research staff in each facility. The CenExel Centers of Excellence deliver the engagement, expertise, and results to ensure that their clients achieve their clinical research goals.
About Edgemont Partners
Now in its 21st year, Edgemont ranks among the most active and best-performing independent healthcare M&A and financial advisors in the U.S. Edgemont focuses on providing expert strategic advice and transaction execution to healthcare and life science services and software companies, bringing a steadfast commitment to clients, driven always to prioritize their best interests. Edgemont’s principals have executed 185+ transactions with an aggregate value of $80+ billion.
For more information on Edgemont, contact Ben Hughes at +1 (646) 632-3967, or visit www.edgemont.com.