MINNEAPOLIS, MN – April 9, 2019 – Covance Inc., the drug development business of LabCorp® (NYSE: LH), today announced the completion of the acquisition of Regulatory & Clinical Research Institute, Inc. (RCRI), the leading clinical research organization, medical device consulting firm and strategic regulatory expert based in Minneapolis, MN. RCRI has built a reputation for designing and implementing the most complex medical device trials, applying an integrated, regulatory-centric approach at every stage of medical device development.
Fairmount Partners, a leading investment bank for pharmaceutical, device and related services businesses, acted as financial advisor to RCRI.
About Regulatory & Clinical Research Institute (RCRI)
Regulatory & Clinical Research Institute, Inc. (RCRI) operates as a consulting company providing integrated contract research organization services to the medical devices, IVD, and biosciences industries. Services include regulatory services, clinical trial design and management, database development and compliance, reimbursement and health economics, quality systems and compliance and biostatistics. RCRI was founded in 1999 and is based in Minneapolis, Minnesota.
Covance Inc., the drug development business of LabCorp®, is the world’s most comprehensive drug development company, dedicated to advancing healthcare and delivering Solutions Made Real®. LabCorp®, an S&P 500 company, is a leading global life sciences company that is deeply integrated in guiding patient care, providing comprehensive clinical laboratory and end-to-end drug development services. With a mission to improve health and improve lives, LabCorp delivers world-class diagnostic solutions, brings innovative medicines to patients faster, and uses technology to improve the delivery of care. LabCorp reported revenues of more than $11 billion in 2018.
About Fairmount Partners
Based in Philadelphia, Fairmount Partners is the leading investment bank worldwide for pharmaceutical, device and related services businesses. Fairmount provides merger and acquisitions advisory services, and assists companies to raise funding for acquisitions, growth and liquidity. Fairmount’s Pharmaceutical Services Group has assisted clients to complete over 132 transactions in 20 countries in North and South America, Europe, Asia and Australia. Further information is available at www.fairmountpartners.com.
Contact: Neal McCarthy