Provident Healthcare Partners (“Provident”), a leading healthcare investment banking firm, announced it has advised Pinnacle Research Group (“PRG”) in its acquisition by Rovia Clinical Research, a portfolio company of Gauge Capital. PRG is a leading Alabama-based, multi-specialty clinical research site with proven expertise in conducting Phase I–IV clinical trials across several therapeutic areas, including cardiometabolic health, obesity, infectious disease, rheumatology, and gastroenterology.
Provident’s deal team was led by Managing Director Michael Patton and Director Conor Duffey. Maynard Nexsen served as legal counsel to PRG.
“We founded Pinnacle Research Group 28 years ago with the intention of working to retirement, then leveraging the accrued value of our organization as our ultimate exit plan,” stated Darin Sims, Managing Partner of PRG. “When the time came, we reached out to Provident based on a strong recommendation. Having never sold a business before, we were unfamiliar with the process and its complexities. Conor and Michael provided the expertise and ongoing support needed to expose our company to the broader market and navigate the process to a successful conclusion. We received interest from dozens of potential purchasers and multiple strong offers, allowing us to be selective in choosing the best fit for our plans and our team. Provident’s professional network also helped us assemble the supporting team needed to negotiate and complete a successful sale on favorable terms. I highly recommend Conor, Michael, and Provident as sell-side advisors.”
“Darin and Tracy Sims founded and scaled a truly impressive research site, combining a broadly diversified portfolio of late-phase clinical trials with dedicated inpatient Phase I capabilities. Given Pinnacle’s closely held nature and long-tenured team, cultural fit and alignment were paramount to the Sims as they evaluated potential partners. Rovia emerged as the clear fit to preserve what has made Pinnacle successful while supporting the Company through its next chapter of growth,” commented Conor Duffey, Director at Provident.
About Pinnacle Research Group
Headquartered in Anniston, Alabama, Pinnacle Research Group is a multi-specialty clinical research site conducting Phase I–IV clinical drug and device studies across a 13,600-square-foot inpatient and outpatient facility with a dedicated 16-bed Phase I unit. Founded in 1998, the Company has become the largest independent clinical research site in Alabama, having conducted more than 500 studies across a diversified mix of therapeutic areas, supported by a seasoned team of principal investigators, deep relationships with leading pharmaceutical sponsors, and a consistent track record of high-quality clinical outcomes. Visit pinnacletrials.com to learn more.
About Rovia Clinical Research
Rovia Clinical Research is a multi-specialty clinical research site network with 20+ years of research experience. It operates a hub-and-spoke model of freestanding sites and physician-embedded capabilities. Rovia operates 20 wholly owned sites across 8 states and serves under-represented regions such as Alabama, Mississippi, Louisiana and Missouri. Rovia’s core research focus includes endocrinology, obesity, cardiology, gastroenterology, neurology, psychiatry, ophthalmology, and infectious disease. Rovia has a proven history of enrolling patients with outstanding retention, rapid study start-up, and high-quality data. The network is a preferred partner to leading global pharmaceutical and biotechnology customers. Visit roviaclinical.com to learn more.
About Provident Healthcare Partners
Provident is a leading healthcare investment banking firm specializing in merger and acquisition advisory, strategic planning, and capital formation services for healthcare companies. The firm has a comprehensive knowledge of market sectors and specialties, including clinical research. Provident also has unsurpassed experience and insight into the M&A process, which includes working with a multitude of investors such as private equity firms and strategic consolidators. For additional information, visit providenthp.com or follow Provident on LinkedIn.
Contact:
Provident Healthcare Partners
Conor Duffey
617-226-4294
cduffey@providenthp.com
