Genstar Capital, a private equity firm focused on investments in targeted segments of the financial services, healthcare, industrial technology and software industries, completed the previously announced acquisition of Advarra, a Columbia, MD-based provider of compliance solutions for the drug development process, from Linden Capital Partners.
The amount of the deal was not disclosed.
Advarra is a provider of institutional review board (IRB), institutional biosafety committee (IBC) and research quality and compliance services, which are mandated by regulatory agencies for all trial protocols, patient forms, site initiations and trial modifications.
The company serves leading pharmaceutical, biotechnology, medical device and contract research organizations (CROs), as well as academic medical centers, hospital systems, investigative site networks, and therapeutic research consortia, and has relationships with over 3,200 institutional sites.
Advarra was formed through the merger of Chesapeake IRB and Schulman IRB in 2017.
On February 28, 2019, the company completed its acquisition of Quorum Review.