DURHAM – Velocity Clinical Research, which is headquartered in Durham, has acquired two additional firms in expanding its national reach to 16 total sites.
According to the company, the purpose of the acquisition of Denver-based Downtown Women’s Health Care and Riverside Clinical Research in Edgewood, Florida is to increase volunteer recruitment from communities traditionally underrepresented in clinical research as well as an expansion into renal and hepatic research.
Financial terms were not disclosed.
“We’re committed to recruiting a diverse set of volunteers to the trials we conduct,” said Dr G. Paul Evans, president and CEO of Velocity Clinical Research. “Putting sites near minority populations is one way to encourage more people from these communities to take part in clinical research.”
Since July 2020, Velocity Clinical Research has recruited more than 10,000 patients to COVID-19 vaccine trials, and according to the company, it is the only site company to be included in all Operation Warp Speed trials, plus Pfizer.
“Velocity’s integrated site model allows us to scale the company whilst remaining agile, consequently driving more business,” said Evans, noting the company launched three years ago and now has 16 sites across 11 states in its portfolio.
Prior to these acquisitions, the company has made three additional acquisitions, two in November of 2019, and one in November of 2020, according to Crunchbase, and PE Hub has reported that the firm may be seeking a buyer.