FCA Venture Partners Portfolio Company Clinical Ink Acquired by GI Partners
NASHVILLE, TN – Tuesday, August 11, 2020 – FCA Venture Partners (“FCA”) announced today its portfolio company, Clinical Ink, a global clinical trial technology company, has been acquired by GI Partners, a leading private equity investment firm. FCA, along with other investors Diōko Health Ventures and NovaQuest, will continue as minority investors in the company and Clinical Ink’s management team also invested significantly in the transaction. Financial terms were not disclosed.
FCA led Clinical Ink’s Series B round of financing in October 2013 and participated in the Series C and D rounds of financing in 2015 and 2017, respectively, investing a total of $4.4M in the company. Over the past three years, the company has tripled its bookings and quadrupled its revenues. The acquisition by GI Partners was a great outcome for Clinical Ink and resulted in a meaningful return on investment for the limited partners in FCA’s fifth fund.
Headquartered in Horsham, PA, Clinical Ink offers data certainty from source to submission during clinical trials. The company’s Lumenis eSource clinical technology is a suite of solutions for capturing and integrating clinical trial electronic study data from sites, clinicians, and patients in real time. Through configurable direct data capture (DDC), electronic clinical outcome assessment (eCOA), electronic patient reported outcomes (ePRO), and eConsent modules, the company’s eSource Ecosystem has been deployed across: 300 studies, in all Phases (I–IV), and 60 countries in 70 languages. Clinical Ink’s service-first methodology and dedication to supporting a wide range of deployment options enable confident decisions, faster, and have driven meaningful industry adoption.
Matt King, Managing Partner at FCA Venture Partners, has served on the Clinical Ink board of directors since 2013. “When we invested in this business seven years ago, we saw the market opportunity for technology adoption and innovation within clinical trials to enable more efficiency in the space. The company’s growth since then is a testament to the management team’s focused execution. The partnership with GI Partners will enable Clinical Ink to strategically expand the business at a time when eSource clinical trial technology is no longer a ‘nice to have,’ but the industry standard.”
“We are the undeniable leader in delivering eSource solutions across all phases and therapeutic areas,” said Clinical Ink CEO, Ed Seguine. “Our partnership with FCA Venture Partners contributed to our success in many ways. FCA understood our vision from the beginning, has been a consistent supporter of the business, and has provided valuable strategic advice and partnership introductions over the years. GI Partners’ acquisition is a powerful validation of our eSource vision for clinical trials and will help accelerate the adoption of our business model at a time when the weaknesses and frailties of the current clinical technology landscape are so starkly apparent. I’m excited to work with GI Partners as we launch our latest innovations later this year and expand into Asia-Pacific and Europe to support our customers’ global operations.”
About FCA Venture Partners
Founded in 1996, FCA Venture Partners is a venture capital investment firm with a long history of investing in successful healthcare entrepreneurs. The firm is passionate about building sustainable businesses and providing strategic value to their portfolio companies. FCA invests $3M-$6M in fast growing healthcare technology and technology-enabled healthcare services companies making processes in the industry faster, better and more affordable, while improving the quality of care and the patient experience. Located in Nashville and deeply involved in the growth of the U.S. healthcare community, FCA Venture Partners is poised to take advantage of disruptive opportunities to fund healthcare forward.
About Clinical Ink
Clinical Ink, a global clinical trial technology company, offers data certainty from source to submission. Our Lumenis eSource clinical technology and configurable direct data capture, eCOA, ePRO, and eConsent modules — a suite of solutions for capturing and integrating electronic data from sites, clinicians, and patients at its source — naturally enhance your clinical trial workflow by reducing manual labor, providing anytime, anywhere data access, and saving resources as your trials progress. Visit www.clinicalink.com.