BioClinica to be bought by private-equity firm JLL for $123 million
The Bucks County-based provider of clinical trial management services will be acquired by a New York investment firm in a cash offer of $7.25 per share.
BioClinica to be bought by private-equity firm JLL for $123 million
Mike Armstrong, Inquirer Columnist
BioClinica Inc., a Bucks County-based provider of clinical trial management services, will be acquired by JLL Partners Inc., a New York private-equity firm, for about $123 million.
A holding company controlled by JLL will acquire BioClinica, of Newtown, through a cash tender offer at $7.25 per share.
Shares of the publicly traded BioClinica were up 19 percent, of $1.17, at $7.22 in morning trading.
In addition, JLL will acquire Princeton-based CoreLab Partners Inc., a provider of services to the biopharmaceutical industry, and combine it with BioClinica.
BioClinica president and CEO Mark L. Weinstein would lead the resulting company.
Here is a link to the statement announcing the transaction.
Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980.
Reach Mike at marmstrong@phillynews.com.
