Wednesday, May 27, 2015

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

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.

Inquirer Columnist
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Mike Armstrong blogs about Philadelphia corporations and business-related topics. Contact him at 215-854-2980. Reach Mike at marmstrong@phillynews.com.

Mike Armstrong Inquirer Columnist