Clinical Trials of Texas Recapitalized by NMS Capital to Form new Flourish Research Clinical Research Site Platform

August 13, 2021

Overview

Clinical Trials of Texas has been recapitalized by NMS Capital to form the new Flourish Research clinical research site platform, to become a nationwide network of clinical research sites with therapeutic area and clinical trial phase diversity.

Significance

The highly fragmented and fast-growing clinical research site industry represents a ~$21B global market; nearly 400,000 studies are conducted annually. With COVID-19 further highlighting the importance of clinical research and trials, the market demands more efficient patient recruitment across a broad range of therapeutic areas and patient populations. This need is driving rapid consolidation in the industry.

Clinical Trials of Texas (CTT) operates a 20,000+ sqft clinical trial “super site” in San Antonio, TX. The company has performed over 1,000 trials across more than 15 therapeutic areas and over 50 indications. Since its founding in 2001, CTT’s focus on patient experience has made them one of the country’s leading research sites, and the ideal platform for NMS Capital to form the new Flourish Research. Flourish Research will become a nationwide network of clinical research sites with therapeutic area and clinical trial phase diversity.

Crosstree’s Role

Crosstree acted as exclusive financial advisor to Clinical Trials of Texas in its recapitalization by NMS Capital through:

  • Leveraging market expertise to identify the ideal transaction partner to drive future growth
  • Positioning CTT to maximize value
  • Driving an outcome for the founder/client well above her expectations