Flourish Research Adds Great Lakes Clinical Trials and Clinical Site Partners to the Network, Tripling Revenue and Expanding Clinical Expertise in Six Months
SAN ANTONIO, Texas, Jan. 12, 2022 /PRNewswire-PRWeb/ — Flourish Research announced today the addition of Great Lakes Clinical Trials (“Great Lakes“) and Clinical Site Partners (“CSP”) to its growing network. These leading clinical trial sites join Clinical Trials of Texas, LLC (“CTT”), which is the platform site for the network, and Excel Medical Clinical Trials, which joined Flourish in October.
With wholly owned sites, Flourish Research now represents one of the industry’s most progressive and diversified networks with robust capabilities across more than 60 indications. The network has extensive capabilities in the therapeutic areas of vaccines, cardiology, metabolic disorders, neurology, rare diseases and respiratory conditions; Flourish sites have capabilities across Phases I-IV with more than 55 inpatient beds. Flourish sites are recognized within the industry as having cutting-edge expertise in participant recruitment and retention. By being fully integrated, Flourish will continue to provide a best-in-class experience for both its study participants and sponsors/CROs while achieving operational efficiencies across all key departments.
CSP was founded in 2003 by leading pulmonologist Dr. Faisal A. Fakih, and Co-Founder Ana Marquez. It has since expanded to three sites located throughout Florida, allowing it access to the state’s diverse population. CSP maintains a focus on respiratory, sleep, COVID-19, nephrology, and vaccine-related research. The business has built deep relationships with pharmaceutical sponsors and CROs, demonstrated by a track record of strong revenue growth and an ability to enter and serve new therapeutic areas. Ana Marquez, Co-Founder and CEO, and Dr. Faisal A. Fakih, Co-Founder and Medical Director, have been core to CSP’s success with a combined 38 years of experience in clinical research. The current management team will continue in their roles leading CSP.
Ana Marquez, Co-Founder and CEO of Clinical Site Partners said: “I am confident that the partnership with Flourish Research is the ideal next step for CSP in its continuing evolution. The resources that we will now be able to access through this partnership will accelerate our growth trajectory. Our existing relationship with Clinical Trials of Texas was certainly a highlight of this opportunity and we wanted to become a part of Flourish Research. Dr. Fakih and I are looking forward to seeing all that we can achieve in the future.”
Founded in 2013 by industry veteran, Steve Satek, Great Lakes is a diversified site network with four locations throughout the Chicago area. Great Lakes conducts studies across therapeutic areas with a focus in Alzheimer’s Disease, psychiatry, vaccines and nutrition-related research. Great Lakes has been a trusted source for clinical research since its inception and has developed deep relationships with both sponsor and CRO customers, resulting in a consistent track record of growth. Mr. Satek and his team have driven Great Lakes success with decades of experience in the clinical research space. The current management team will continue in their roles leading Great Lakes.
Steve Satek, Founder and CEO of Great Lakes Clinical Trials said “Since first meeting with Flourish Research management this felt like the right partnership for Great Lakes. I have known the team at Clinical Trials of Texas for several years and think very highly of their organization. We are excited to partner with them, Excel Medical and CSP to further accelerate the growth of Flourish. My team and I remain invigorated to continue providing an outstanding experience for our patients and customers.”
NMS Capital, the private equity firm that facilitated the recapitalization of the sites and founded Flourish, worked with Clinical Trials of Texas management team to identify sites that would be a good fit for the network. Clinical Trials of Texas CEO Kay Scroggins said “The joining of our teams is exciting and builds on Flourish’s ability to be a premier solution provider within our industry.”
Luis Gonzalez, Partner at NMS, said “These organizations will position Flourish Research for future growth through the addition of strong management, operational best practices and new customer relationships. Only six months into our investment, we have tripled the revenue of the business and are excited about the future.”
About Flourish Research:
Flourish Research is a leading clinical trial site network currently consisting of platform site Clinical Trials of Texas, Excel Medical Clinical Trials, Great Lakes Clinical Trials and Clinical Site Partners. The Company has sites throughout Florida, Illinois and Texas. Flourish has conducted over 3,700 trials to date across more than 15 therapeutic areas and more than 60 indications. Since its founding, Flourish has focused on performing the highest quality trials for sponsors and CROs and providing study participants with an exceptional clinical experience.
About NMS Capital:
NMS Capital is a New York headquartered private investment firm specializing in strategic equity investments and leveraged buyouts of lower middle market companies. The firm was formed through the spin-out of a group of portfolio companies from Goldman Sachs’ Merchant Banking Division. NMS focuses on companies headquartered in the U.S. poised to benefit from sustainable growth trends with particular concentration on companies in Business Services and Healthcare Services. For additional information on NMS, please visit the firm’s website at http://www.nms-capital.com
Media Contact
Cindi Heckmann, Flourish Research, +1 2109490122 Ext: 192, checkmann@cttexas.com
SOURCE Flourish Research
