Florida-Based CRO seeks to expand offerings, global footprint, and headcount after successful investment transaction.
Miami, FL, Dec. 11, 2018 (GLOBE NEWSWIRE) — Biorasi, a leading full-service global contract research organization (CRO), is excited to announce that it has successfully closed an investment transaction with Riordan, Lewis & Haden | Equity Partners, a private equity firm based in Los Angeles. Biorasi partners with pharmaceutical, medical device, and biotech companies to successfully navigate the complexities of clinical trials and bring products and treatments to market faster.
Over the past two decades, Biorasi has worked with many innovative firms in the life sciences industry, from global giants to startups, to improve clinical trial outcomes for its clients and their patients. Biorasi has been ranked as the fastest- growing CRO on the Inc.500 list and has earned multiple awards from leading CRO industry publications. Biorasi is widely recognized as an expert in complex trials, as a trusted resource for trial rescue, and as a pioneer in cutting edge clinical trial methods.
“After a year of talking with multiple investment firms, we believe we have found a true partner in RLH. They share our vision of what the CRO industry should be and are committed to joining us in moving the industry forward while serving our sponsors with effective and innovative approaches”, said Boris Reznik, PhD., Biorasi’s chairman. “We are excited to partner with RLH as we make our dream for clinical research a reality.”
RLH investment professionals Brad Hively and Navid Gharavi commented, “Biorasi has been able to combine a rigorous process-driven approach to conducting trials with a flexible culture that attracts and retains highly talented individuals. These two elements enable the Company to generate superior outcomes for its clients, as shown by key indicators such as speed of patient enrollment, timeliness and accuracy of data collection, quality of data analysis, and ability to adapt trial parameters based on real-time analytics. We look forward to helping the Biorasi team build an even more successful future.”
Biorasi will use the investment from RLH to scale up several aspects of its operations. Specific plans include expanding geographic coverage with the opening of new regional offices; investing in further development of TALOS™, the company’s groundbreaking project management platform; and growing its workforce and operational capabilities worldwide. Biorasi will also be expanding its headquarters office in Miami, continuing its commitment to transforming and growing the life sciences economy of South Florida.
About Biorasi:
Biorasi is an award-winning contract research organization accelerating drug and device clinical development for life sciences companies around the world. Since 2002, Biorasi has achieved success in bringing innovative therapies to market by forming true partnerships with sponsors, and focusing on processes, methodologies, and technologies that move the industry forward. Biorasi is headquartered in Miami, Florida, and has regional offices around the globe.
www.biorasi.com
About RLH Equity Partners:
Riordan, Lewis & Haden is a leading private equity firm that partners with entrepreneurs to help them build distinctive high-growth businesses and realize their aspirations. RLH provides experienced strategic guidance to its portfolio companies while embracing the entrepreneurial spirit of those companies’ founders. The RLH investment team, which averages over 15 years of private equity experience, has developed proven processes to enhance organic growth and drive enterprise value. With a 35+ year history of successful investing, RLH is uniquely able to help fast growing, profitable enterprises with revenue of $25-150 million in the business services, healthcare, and government services sectors achieve their goals. The firm currently manages over $1 billion of assets and is actively seeking new portfolio company investments.
www.rlhequity.com
CONTACT: Alexandre Mouravskiy Biorasi 1.786.888.1822 [email protected] J. Christopher Lewis Riordan, Lewis & Haden | Equity Partners 310-405-7200 [email protected]