Jersey City-based TrialScope, a clinical trial solutions and services provider, announced Tuesday that it has acquired Deloitte Analytics LLC, including its PharmaCM business.
According to the announcement, although terms were not disclosed, TrialScope’s new investors, Edison Ventures and Dublin Capital Parnters along with its existing investor NewSpring Capital, gave the company $5 million for technology development, sales and marketing in addition to funding the acquisition.
"We are thrilled with the quality, experience and track record of the team in delivering strategic value to their impressive customer list," Mike Forgash, CEO of TrialScope, said in a prepared statement. "In addition, we are excited to be working with our partners, Edison Ventures, Dublin Capital Partners and NewSpring Capital, to establish a solid foundation and long-term stability for our customers and employees as we grow our offerings to make a measurable difference in our industry."
Thomas Wicks, general manager of the PharmaCM business and newly appointed chief operating officer of TrialScope, said in a statement, "This acquisition was a strategic move for both parties and will benefit all involved — especially our customers. By bringing to market the best tools and technologies to optimize this process, we are not only providing tremendous value in time, cost and resource savings, but compliance and transparency in an increasingly complex and global environment."
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