Private equity investment firm GI Partners has announced the completion of the acquisition of global clinical trial technology firm Clinical Ink.
The transaction to acquire a minority interest in Clinical Ink was announced earlier this month.
Clinical Ink, which captures and integrates electronic data from clinical sites through its Lumenis platform, is now owned by the investment firm.
However, Clinical Ink’s existing stockholder, NovaQuest, will continue as a minority investor in the company, as well as Clinical Ink’s management team, which has also invested significantly in the transaction.
With this acquisition, GI Partners intends to accelerate Clinical Ink’s innovation in clinical trial ‘workflow solutions’.
Clinical Ink’s technology has so far been deployed in over 300 studies in Phases I to IV.
The company’s technology has been used across 60 countries and in 70 languages, as well as in more than 50 bring your own device (BYOD) studies.
Cain Brothers acted as financial advisor and Ropes & Gray has been appointed as the legal advisor to GI Partners for the transaction.
Meanwhile, Baird served as a financial advisor, while Wyrick Robbins acted as legal advisor to Clinical Ink for the transaction.
In June 2018, GI Partners signed an agreement to purchase Cord Blood Registry (CBR Systems) from AMAG Pharmaceuticals, a biopharmaceutical company, for $530m in cash.