Harris Williams Advises Velocity Clinical Research on its Sale to GHO Capital Partners LLP
May 03 2021 - 9:22AM
Business Wire
Harris Williams, a global investment bank specializing in
M&A advisory services, announces it advised Velocity Clinical
Research (Velocity), a portfolio company of NaviMed Capital
(NaviMed), on its sale to Global Healthcare Opportunities, or GHO
Capital Partners LLP (GHO). Velocity is a leading integrated site
organization for clinical trials. The transaction was led by Paul
Hepper, Nick Owens, Lucas Scholl, Katie Bowden and Jonathan Ferrell
of the Harris Williams Healthcare & Life Sciences (HCLS)
Group.
“Investor interest in clinical trial site platforms like
Velocity remains robust, as the broader pharma services sector was
highly resilient through COVID-19 and continues to benefit from
outsourcing trends. Clinical trial site platforms perform the
critical function of recruiting and retaining patients for
pharmaceutical clinical trials, which speeds drug and vaccine
time-to-market, proven out by the unprecedented effort achieved to
complete large COVID-19 vaccine trials on a highly expedited
timeline,” said Paul Hepper, a managing director at Harris
Williams.
“Nothing better exemplifies the power of the Velocity platform
than the efforts in 2020 to help develop a COVID-19 vaccine faster
than anyone ever thought possible at the onset of COVID-19. It was
a pleasure working with the Velocity team and NaviMed on this
successful outcome, and we are excited to see what Velocity
accomplishes under new ownership,” said Nick Owens, a director at
Harris Williams.
“Harris Williams exceeded our expectations as a partner
throughout the transaction. The team’s ability to share our story
coupled with its industry experience and buyer relationships led to
the most optimal outcome, and we look forward to continuing to
build the Velocity platform with GHO,” said Paul Evans, CEO of
Velocity.
Velocity, headquartered in Durham, North Carolina, is a leading
integrated site organization for clinical trials, offering
dedicated site capabilities to help biopharmaceutical and contract
research organization customers find the right patients for their
studies. The company has 16 sites across the United States.
Velocity places the care of the patient at the heart of everything
they do. With a combined experience of 250 years running sites and
more than 5,000 studies completed, Velocity has refined its patient
recruitment strategies while maintaining a focus on delivering
timely and reliable data quality.
NaviMed is a Washington, D.C.-based private capital firm focused
exclusively on the healthcare industry. NaviMed makes investments
in fast growing lower middle market healthcare businesses. The firm
focuses on healthcare services, healthcare IT, hospital products
and pharmaceutical services businesses which NaviMed believes are
poised to benefit from the reform and technology innovation forces
reshaping the healthcare industry. NaviMed targets profitable
private companies with up to $10 million of EBITDA and double-digit
revenue growth. NaviMed seeks investments which it believes can
benefit from its deep industry expertise, broad relationship
network and the track record of success of its senior investment
professionals as healthcare investors and operators. NaviMed’s
senior investment team has a track record of value creation
spanning, in the aggregate, dozens of investments and more than $11
billion of enterprise value created over the course of their
combined careers.
GHO is a leading specialist healthcare investment advisor based
in London. The company applies global capabilities and perspectives
to unlock high growth healthcare opportunities in Europe and the
U.S., building market leading businesses of strategic global value.
GHO’s proven investment track record reflects the unrivalled depth
of its industry expertise and network. GHO partners with strong
management teams to unlock value in a global system that demands
the delivery of better, faster, more accessible healthcare.
Harris Williams, an investment bank specializing in M&A
advisory services, advocates for sellers and buyers of companies
worldwide through critical milestones and provides thoughtful
advice during the lives of their businesses. By collaborating as
one firm across Industry Groups and geographies, the firm helps its
clients achieve outcomes that support their objectives and
strategically create value. Harris Williams is committed to
execution excellence and to building enduring, valued relationships
that are based on mutual trust. Harris Williams is a subsidiary of
the PNC Financial Services Group, Inc. (NYSE: PNC).
The Harris Williams HCLS Group has experience across a broad
range of sectors, including healthcare providers; payors and payor
services; outsourced pharmaceutical services; medical device supply
chain; healthcare IT; and pharmacy. For more information on the
HCLS Group and other recent transactions, visit the HCLS Group’s
section of the Harris Williams website.
Harris Williams LLC is a registered broker-dealer and member of
FINRA and SIPC. Harris Williams & Co. Ltd is a private limited
company incorporated under English law with its registered office
at 8th Floor, 20 Farringdon Street, London EC4A 4AB, UK, registered
with the Registrar of Companies for England and Wales (registration
number 07078852). Harris Williams & Co. Ltd is authorized and
regulated by the Financial Conduct Authority. Harris Williams &
Co. Corporate Finance Advisors GmbH is registered in the commercial
register of the local court of Frankfurt am Main, Germany, under
HRB 107540. The registered address is Bockenheimer Landstrasse
33-35, 60325 Frankfurt am Main, Germany (email address:
hwgermany@harriswilliams.com). Geschäftsführer/Directors: Jeffery
H. Perkins, Paul Poggi. (VAT No. DE321666994). Harris Williams is a
trade name under which Harris Williams LLC, Harris Williams &
Co. Ltd and Harris Williams & Co. Corporate Finance Advisors
GmbH conduct business.
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