How Clintrax was acquired in just a handful of weeks - Continued ...

Jason deBruyn, Staff Writer, Triangle Business Journal, Mar 10, 2016, 9:35am EST

Just a few weeks ago, Brandon Evans’ phone rang unexpectedly. It was a cold call from WIRB-Copernicus Group (WCG) to gauge Evans’ interest in a partnership. On Wednesday, WCG announced it acquired Raleigh-based Clintrax Global, the company Evans founded with Elizabeth Easley and Steven Jones just three years ago. “It was a very quick deal,” Evans said Wednesday afternoon. “It really seemed like a natural fit.” From the outset, Clintrax knew it would need to find partners at some point in order to reach the scope they wanted. They just didn’t realize it would happen so fast.

Clintrax works on the business end clinical trials, helping drug companies in areas like contract negotiations, budget development, site payment and resource placement to make sure those clinical trials run without a hitch. “Our biopharmaceutical and institutional clients continue to cite – among the top impediments to clinical trial activation – the delays associated with negotiating study budgets and contracts,” says WCG CEO Donald A. Deieso. “By adding Clintrax Global to the WCG family of companies, we can now offer them a more comprehensive and integrated suite of study start-up solutions.”

The Clintrax founders came from PRA Health Sciences, a large contract research organization based in Raleigh, and spun out partly because they recognized a need in the industry for the specialized service they now offer. By more than one measure, they were right, as their revenue grew to $7 million last year, a hefty 1,800 percent jump from 2013. In an interview earlier this year, Evans said he was looking forward to placing on the 2016 INC 5000 list of fastest growing companies, but has no qualms about giving that up. “It’s a wonderful feeling that we are now a part of something bigger,” he says. Financial details were not disclosed, but WCG acquired 100 percent of the company. Clintrax will operate under the existing name in the same Raleigh offices and Evans says there will be no layoffs.

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