Pharma Focus Europe

PharmAlliance Finalizes Purchase of Monitor for Hire

Friday, January 12, 2024

PharmAlliance, a diversified pharmaceutical and life sciences services provider, is excited to announce its recent acquisition of Monitorforhire (MFH), a robust business recognized for its online system that connects clinical research monitors with sponsors. This strategic move allows PharmAlliance to expand globally and better address the development and commercialization needs throughout the drug, biologic, and device development lifecycle, offering diverse end-to-end solutions.

This acquisition is the second expansion for PharmAlliance, a Waud Capital portfolio company. In September 2023, PharmAlliance acquired BioBridges, a company providing clinical development services to emerging and established pharmaceutical, biotechnology, and medical device companies.

Mark Bouck, Chairman & CEO of PharmAlliance and BioBridges, expressed enthusiasm, stating, "Monitorforhire’s unique approach to providing essential clinical research monitoring resources is a valuable addition to the PharmAlliance portfolio. These services complement BioBridges’ commitment to providing clients with experienced, qualified professionals ready to positively advance drug development programs."

Following the acquisition, Monitorforhire will operate as a division of BioBridges, known for offering experienced professionals opportunities aligned with their expertise and interests in the pharmaceutical, biotechnology, and medical device industry. By integrating Monitorforhire, BioBridges aims to enhance its services with a new specialized vertical, benefiting both clients and its extensive international network of over 4,000 clinical research professionals.

Scott Freedman, President and Founder of Monitorforhire, emphasized the company's successful track record, stating, "We have proudly developed and delivered the industry’s most trusted platform for clinical research monitors and their clients for more than 20 years. Our proprietary technology enables professionals and clients to engage seamlessly and efficiently, creating new growth opportunities for BioBridges."

Jason Falchuk, founder of BioBridges, welcomed Monitorforhire into the PharmAlliance and BioBridges family, emphasizing their shared commitment to quality and service. He stated, "Scott is a true visionary, having created a novel approach to addressing and accomplishing clinical research. Together, we will continue to make an even greater impact while upholding our shared focus on quality and service that the professionals and our clients have come to expect."

Janney Montgomery Scott served as MFH’s financial advisor for this transaction.

 

Source: businesswire.com

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