Overview
Radiant Research, a comprehensive clinical research company, announced that it has completed a sale of the business to an ownership group led by ICICI Venture.
Radiant will continue to provide development, study conduct, and centralized patient recruitment services to the biopharmaceutical, nutrition and medical device industry.
Significance
“The new ownership group led by ICICI Venture intends to build the current Radiant platform by acquiring businesses / companies globally, thereby creating a superior business model that will have the benefits of multiple markets as well as access to cost-efficiencies,” said Srinivasa Aluri Rao, Director – Investments, ICICI Venture.
“This change in ownership represents a natural transition from a start-up company to an established company with the financial resources to strategically advance all of our late phase service offerings,” said Pamela Spaniac, Chief Executive Officer of Radiant Research.
Crosstree’s Role
Crosstree Capital Partners served as financial advisor to Radiant Research.
Crosstree introduced Radiant to a unique opportunity with ICICI, an investor not contemplated in Radiant’s prior sale processes.
This transaction further demonstrates Crosstree’s unique global insights and network within the pharma services industry.
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