|[November 08, 2012]
Clinical Research Advantage and Radiant Research Form the Largest and Most Therapeutically Diverse Site Management Organization in the United States
TEMPE, Ariz. --(Business Wire)--
CRA Holdings, LLC announced today that it has acquired Radiant Research,
Inc. CRA Holdings is the company that also owns Clinical Research
Advantage (CRA), another major player in the SMO market. By combining
these two entities under the same investment portfolio, the
organizations collectively have 57 sites with more than 550 research
professionals and an aggressive plan for growth.
Over the past 15 years, Radiant Research has focused on common and
chronic conditions that can be recruited from the general population.
Radiant specializes in trials that require large numbers of subjects to
be recruited in a short period of time, or complex trials that require
specialized equipment or procedures. Radiant has large stand-alone
facilities in which it conducts research; the company recruits studies
primarily from an active database of over one million volunteers. CRA,
on the other hand, is a practice-based organization, where 85% or
greater of trial participants are recruited from the investigator's
private practice. This has allowed CRA to focus on trials where
disease-state management is required. Both organizations are leaders in
vaccine trial execution. The union of these two companies provides for
better access to patients, an ability to conduct a diverse array of
trials and broader geographic diversity.
"The Radiant platform will facilitate faster xpansion of our model by
utilizing the Radiant sites to help launch practice-based satellite
locations in the cities where Radiant already has sites. We have grown
CRA from seven to 37 sites in the last five years. In order for us to
achieve our goal of 80 or 90 sites in the manner we have been doing
would take us at least another five years. The Radiant acquisition will
be the catalyst for much faster growth in the next 12 months," said Mark
Hanley, CEO of CRA.
"By combining the models under one umbrella, we will be able to conduct
almost every type of trial, be it point of care or studies more
appropriate for a stand-alone research facility," said Julie McHugh, CEO
of Radiant Research. "We have been looking for a partner that has a
shared vision for growth without any sacrifice in quality. In CRA, we
have found that partner."
The combined companies will continue to function under the names of
Radiant Research and CRA, but will be looking to integrate and
streamline their operations in areas where integration makes sense.
About Clinical Research Advantage, Inc.
Tempe, Arizona-based Clinical Research Advantage, Inc. (CRA) is a
provider of a range of research services to pharmaceutical companies and
clinical research organizations. As a leading trial management
organization, CRA operates from 37 sites across 17 geographic markets
nationwide, helping trial sponsors bring drugs to market more quickly
and efficiently. Founded in 1992, CRA has successfully completed more
than 1,800 clinical trials on behalf of its clients. For more
information, please visit www.crastudies.com.
About Radiant Research, Inc.
Based in Cincinnati, Ohio, Radiant Research, Inc. (www.radiantresearch.com)
is a comprehensive research company offering study conduct, product
development and centralized patient recruitment services to support the
biopharmaceutical, medical device and consumer products industries.
Radiant is comprised of 20 wholly-owned research centers in the US and
one research center in India, a CRO division called Radiant Development,
and a centralized patient recruitment division. Radiant has conducted
more than 8,900 clinical and consumer trials.
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