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Private equity firm buys Bioclinica in Doylestown for a reported $1.4B

Cinven Partners L.L.P., an international private equity firm, announced Tuesday that it will acquire Doylestown-based Bioclinica Inc., which assists pharmaceutical companies and contract research organizations (CROs) in patient clinical trials.

Cinven Partners L.L.P., an international private equity firm, announced Tuesday that it will acquire Doylestown-based Bioclinica Inc., which assists pharmaceutical companies and contract research organizations (CROs) in patient clinical trials.

Financial terms were not disclosed. Reuters reported that sources said the deal was valued at about $1.4 billion, including debt.

Cinven is acquiring Bioclinica - which will remain in Doylestown - from two other firms, Water Street Healthcare Partners and JLL Partners.

Cinven, with offices in London, Paris, Madrid and other cities, said Bioclinica was "a compelling investment opportunity." Cinven in April 2014 acquired Medpace, an Ohio pharmaceutical contract research organization, and took that company public in New York earlier this month in an initial public offering.

Cinven plans to grow Bioclinica both organically and "through targeted investment" in acquisitions, Cinven said in a statement.

Bioclinica serves more than 400 pharmaceutical, biotechnology, and medical device companies in the United States, Europe, and Asia.

lloyd@phillynews.com

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