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WCG Acquires PharmaSeek, LLC
PRINCETON, N.J., Aug. 8, 2019 /PRNewswire/ -- The WIRB-Copernicus Group®'s (WCG™) Clinical Services Division announced the acquisition of PharmaSeek, LLC, including its wholly-owned subsidiaries PFS Clinical and PatientWise, leading providers of turn-key administrative, consulting, patient recruitment and training solutions for clinical research sites. For over 25 years, PharmaSeek has helped institutions, investigators and independent sites decrease study start-up timelines and reduce cost by assuming the administrative burdens of their research management, including study identification, contract and budget negotiation, coverage analysis, financial management and patient recruitment.
"At WCG, we are proud to support the members of the research ecosystem with best-of-breed solutions to optimize their participation in clinical trials," said Donald A. Deieso, PhD, Executive Chairman and CEO of WCG. "Sites are the connective tissue that unites all of the elements of clinical research; sites are where sponsors and patients come together, and where science and execution intersect. It is in the best interest of the entire research ecosystem that we help our existing sites to remain healthy and vital, and that we make research more accessible and manageable for new investigators. We are delighted to welcome PharmaSeek — an organization dedicated to increasing the efficiency, profitability and vitality of clinical research sites — to our family of companies. We look forward to expanding PharmaSeek's presence in the market and to providing investigators, institutions and independent sites with more robust support in the management of their research."
PharmaSeek aims to decrease study start-up timelines by taking on the administrative burdens of clinical research, saving its clients both time and money. For clinical research sites, PharmaSeek helps to ensure the business runs more efficiently, so that investigators and their teams can focus on the needs of patients and trial volunteers. For biopharmaceutical sponsors and contract research organizations (CROs), PharmaSeek streamlines the study start-up process, providing solutions to identify high-performing sites and eliminate administrative waste.
"We are thrilled to join WCG, and to be part of an organization so keenly focused on driving down the cost of drug development," said Nicolas Cindric, PharmaSeek's CEO. "It doesn't feel like an acquisition in the traditional sense; it feels more like we've received an exclusive invitation to join a community of like-minded professionals who share vision for a better tomorrow. I am delighted that, through this transaction, we will be able to offer even greater value to the ecosystem we serve."
PharmaSeek provides strategic guidance and administrative expertise to hundreds of dedicated research sites, multi-specialty practices, integrated health systems, and academic medical centers that are seeking to expand their research portfolio, increase the profitability of an existing program or improve the efficiency of its management.
"The biggest challenge many of our larger clients — integrated health systems and academic medical centers — is attracting top talent in certain therapeutic areas," said Mr. Cindric. "If they don't have an environment that supports research—and supports it effectively— they will not remain competitive. Patients want cutting-edge treatments, and access to the top doctors who deliver them. We teach our clients how to make research part of their business strategy and provide them with the administrative support to execute it properly."
"We are so pleased to welcome PharmaSeek and its vast network of independent sites to WCG," said Jonathan Zung, PhD, Executive Vice President of WCG's Site Division. "We have been focused on expanding WCG's Global Research Network (GRN) — which now includes more than 2,800 of the leading research sites participating in sponsor-funded clinical trials — by attracting more independent sites. The addition of the members of PharmaSeek's investigative site network will significantly enrich the GRN, diversify the voices within our site community and add tremendous value for the sponsors and CROs committed to selecting sites from within our network."
Membership in WCG's GRN provides a number of benefits including continuous education, advisory services, and relationship-building with biopharmaceutical sponsors within targeted therapeutic areas. There are no fees or other financial requirements for membership — only the commitment to performing high-quality clinical trials.
Like WCG's previous acquisitions, PharmaSeek will continue to operate independently and retain its headquarters in Madison, WI. WCG will provide PharmaSeek with access to capital, expertise and corporate operational support.
About WCG (WIRB-Copernicus Group)
WCG (WIRB-Copernicus Group) is the world's leading provider of solutions that measurably improve the quality and efficiency of clinical research. The industry's first clinical services organization (CSO), WCG enables biopharmaceutical companies, CROs, and institutions to accelerate the delivery of new treatments and therapies to patients, while maintaining the highest standards of human subject protections. For more information, please visit www.wcgclinical.com or follow us on Twitter @WCGClinical.
About PharmaSeek, LLC
PharmaSeek Companies are the industry's leading provider of turn-key administrative, consulting and training solutions for clinical research sites. For over 25 years, they have helped institutions, investigators and independent sites to decrease study start-up timelines and reduce costs by assuming the administrative burdens of research management, including study identification, contract and budget negotiation, coverage analysis, financial management and local patient recruitment. The parent of PFS Clinical and PatientWise, PharmaSeek represents the world's largest network of independent sites, academic medical centers and health systems. For more information, please visit www.pharmaseek.com, www.pfsclinical.com, and www.patientwise.com
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