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This investment will create an organization that is a best in class marketleader in the CRO market specializing in Data Management andStatistical/Programming services to the Biotech, Medical Device, andPharmaceutical industries. The mission is to apply the combined professionalknowledge, staff, technology and skills to support and assist clients inadvancing and accelerating their therapeutic clinical drug developmentinitiatives.
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"We believe both ClinPro and PDD have outstanding expert staff and asuperior service offering in the market," said Doug Schillinger, ManagingPartner at DW Healthcare Partners. "We are thrilled with the opportunity tohave PDD and ClinPro join forces. Both companies have established reputationsfor excellence and are well positioned to benefit from increased outsourcingfrom drug sponsors during clinical and post-marketing trials."
The yet to be named combined company is led by Chief Executive Officer, Dr.Denis Lin, who successfully led another CRO market segment company in DWHP'sportfolio.
"The management team is excited about the opportunity to expand itsworking relationship with DW Healthcare Partners," said Dr. Lin. "Theopportunity to merge PDD and ClinPro, with identical philosophy in terms ofserving clients expertly is unique. We believe the combined company will beable to offer better services because of the increased depth of knowledge,expertise, experience and capacity. Furthermore with the bi-coastal locationswe will be closer to our clients and potential clients."
Jean Pineault is the Chief Operating Officer of PDD and Doron Steger isthe Chief Executive Officer of ClinPro.
"We are thrilled to have found a true first class partner moving forward,"said Dr. Steger. "In PDD we saw exactly the characteristics we have built inour firm, namely, commitment to our clients and their objectives, quality andpride in our work, and efficiency through improved processes and superiortechnology. We believe this merger will be a great benefit to our clients andour employees."
For additional information please visit http://www.pdd.net andhttp://www.clinpro.com.
About DW Healthcare Partners ("DWHP"):
DW Healthcare Partners ("DWHP") is a private equity firm focusedexclusively on the healthcare industry. The firm invests in profitablehealthcare companies with proven management teams and is led by three seasonedhealthcare executives with more than 80 years of combined experience in theindustry. DWHP provides the capital, strategic guidance, and acquisitionexpertise to help mid- to late-stage companies realize their potential forgrowth. For more information, please visit http://www.dwhp.com or contactDavid Goldberg, DW Healthcare Partners, [email protected] (801) 365-4001.
Updata Advisors, Inc. acted as sole financial advisor to ClinPro inconnection with the combination of PDD and ClinPro. Morse Zelnick Rose &Lander LLP provided legal counsel to ClinPro in connection with thecombination.
SOURCE DW Healthcare Partners
