Investor Inflexion Private Equity has backed the management buy-out of contract research organisation Phlexglobal.
Investor Inflexion Private Equity has backed the management buy-out of contract research organisation Phlexglobal.
Phlexglobal financial director, Stella Donoghue, will become managing director and Karen Redding will remain global business development manager as part of the deal, a statement form the company says. Former managing director for Wyeth Laboratories (UK and Ireland), Kevin James, has joined Phlexglobal as chairman.
James comments that the business has a ‘strong future’ in its electronic Trial Master File (eTMF) software. The business provides services in managing resources, task forcing, clinical support, eTMF, and document solutions and training. Clients are from the pharmaceutical, biotechnology, medical device, and healthcare industries.
Next month, the Buckinghamshire-based business will open its second US office in Philadelphia and, following the transaction, aims to move into new markets including in the Asia-Pacific.
Richard Swann, investment director at Inflexion, comments, ‘Phlexglobal operates in an interesting niche market and is an excellent example of the type of business that Inflexion seeks to invest in, offering a superior service and product to its customers.’
