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CCBR–SYNARC and BioClinica merge to create a provider of specialized outsourced clinical services.
CCBR-SYNARC and BioClinica, have signed an agreement to merge their companies to create a provider of specialized outsourced clinical services. The combined company will offer a portfolio of services tailored to conducting and managing global clinical trials. Jeffrey McMullen, vice chairman of inVentiv Health, will serve as chairman of the combined company. Mark Weinstein, president and CEO of BioClinica, will serve as CEO.
As one entity, BioClinica and CCBR-SYNARC will become the provider of four specialized services that increase the speed and efficiency of global clinical trials, according to the company. The combined company will provide customers with medical imaging services that track the effectiveness of new drugs across multiple therapeutic areas, including oncology, neurology, and musculoskeletal. It will offer a network of research centers to recruit patients for global trials. The company will provide consulting services to support the overall drug development process, as well as services to monitor the cardiac safety of compounds under development. In addition, it will offer central lab capabilities to analyze biological samples originating from clinical trials.
The transaction is expected to close in the first quarter of 2014. Financial terms are not being disclosed.