Flourish Research Acquires Excel Medical Clinical Trials to Expand Site Network and Therapeutic Expertise

November 2, 2021

Overview

Excel’s site location, therapeutic areas of focus, and expertise made them the ideal addition to Flourish Research’s growing platform.

Significance

The highly fragmented and fast-growing clinical research site industry represents a ~$21B global market, where 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.

Excel Medical Clinical Trials (Excel) is a clinical research site focused on cardiology, liver disease, and related indications in Boca Raton, FL. Since its founding in 2016, Excel has distinguished itself as a clinician-owned and operated research site. The company has both the research experience and clinical expertise required to safely conduct top-quality scientific research, helping Excel develop deep relationships with both sponsor and CRO customers. Excel’s site location, therapeutic areas of focus, and expertise made them the ideal addition to Flourish Research’s growing platform, which will become a nationwide integrated network of clinical trial sites offering therapeutic area and clinical trial phase diversity.

Crosstree’s Role

Crosstree acted as an exclusive strategic and financial advisor to NMS Capital and Flourish Research in the recapitalization of Excel through:

  • Developing a well-defined growth strategy with Crosstree’s Strategic Services group
  • Leveraging market expertise to identify the ideal strategic partner to expand geographically and add complementary therapeutic areas of focus
  • Driving an outcome to accelerate growth and enhance value for all stakeholders