CenExel is the latest CRO to change ownership hands. Boston-based private equity firm BayPine has acquired a majority stake in the company, leaving former majority owner Webster Equity Partners with a minority stake.
BayPine did not disclose the financial details of the acquisition but said in an April 14 release that the transaction is expected to close in the second quarter of 2025.
“CenExel is an ideal fit for our digital transformation strategy, with significant opportunities to bolster its data infrastructure and leverage AI-enabled tools to improve patient recruitment and site performance,” Michael Attal, principal at BayPine, said in the release. “By executing a range of growth initiatives, we believe CenExel is well positioned to build upon its status as the premier clinical site network and accelerate its evolution into a truly next-generation, digitally-enabled research platform.”
BayPine focuses on “innovation, digital transformation and sustainable growth,” and has a portfolio that includes a digital learning platform and networks of dermatology clinics and automotive service centers, according to the firm’s website.
CenExel is a site network with 18 locations spread across the U.S. The organization’s focus is on central nervous system diseases and other complex therapeutic areas, according to the release, providing services like protocol development, patient recruitment and retention, trial operations and data collection.
Global CRO Novotech also recently attracted the interest of private equity. Two firms, GIC and Temasek, acquired large stakes in the Singapore-based Novotech earlier this month, valuing the company at more than $1.9 billion.