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WHI Capital Partners Invests in Pharmaceutical Services Firm Clinical Resource N

This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-09-02
CHICAGO--(BUSINESS WIRE)--WHI Capital Partners, a Chicago-based private equity firm focusingon the lower-middle market, announced today, that it has made aninvestment in Clinical Research Network (CRN), a leading provider ofclinical trial services to pharmaceutical and biotechnology companiesas well as contract research organizations (CRO).

Incorporated in 2003, CRN's services significantly accelerate thepace of clinical trials by leveraging its growing network of homehealthcare agencies with its more efficient processes and industryexpertise. The company's approach dramatically improves patientrecruitment, compliance and retention and increases patient andinvestigator satisfaction.

The demand for CRN's services has been growing rapidly due to theresults the company has achieved for its customers. These results havetranslated into a reduction in patient recruitment time and anincrease in the patient retention rate, in some cases by over 50percent and 95 percent, respectively. The company utilizes a rigorousqualification process in bringing home healthcare agencies into itsnetwork. Currently, CRN has qualified more than 2,000 home healthcareagencies across the United States and Canada to become part of itsnetwork and will perform more than 50 trials in 2007.

CRN's services include training and managing home healthcareproviders on conducting selected clinical trial visits. Visits includeadministration of study product, blood draws and safety assessments inthe patient's home or alternate site such as their workplace or traveldestination. The healthcare professionals provide requireddocumentation to ensure compliance with the protocol and FDAregulations. CRN's efforts have created substantial value by savingdevelopment time and expense versus the traditional model ofconducting investigator site visits.

"By bringing clinical trials into patients' homes through the useof qualified and trained home healthcare providers, we have helpedsolve two of the biggest challenges in the clinical trial process:patient recruitment and retention," said Gail Adinamis, founder andCEO of Clinical Resource Network. "Our goal is to help speed thedevelopment of healthcare solutions by providing timely, reliable andhigh value services to improve the quality of life for ourstakeholders - including the patients, investigators, study sponsorsand ultimately consumers."

"CRN is directly addressing some of the most significant problemareas experienced by biopharmaceutical companies and their CROs," saysAdam Schecter, Managing Partner of WHI Capital Partners. "The resultsthat CRN consistently achieves for its customers provide for a clearand extremely compelling value proposition and return on investment."

About Clinical Resource Network, LLC

Clinical Resource Network () is a providerto biotechnology, pharmaceutical and other healthcare companies ofspecialized in-home and alternate site clinical services utilizedprimarily to expedite clinical trial studies in most therapeutic areasand age groups. CRN partners with biopharmaceutical companies andtheir contract research organizations to help them enhance patientrecruitment, data collection and patient retention with the clinicaltrial process.

About WHI Capital Partners

WHI Capital Partners () is a Chicago-basedprivate equity firm that invests in leading niche manufacturing,value-added distribution and specialty service companies with revenuesbetween $10 - 100 million. WHICP focuses on creating a truepartnership with a company's management team with the goal ofenhancing operational efficiency along with developing and executing aclearly defined growth plan to build value. Backed by the financialstrength and resources of its parent firm, William Harris Investors,Inc., WHI Capital Partners provides a unique solution to help acompany capitalize on its long-term opportunities.

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