This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

DrugDev And CFS Clinical Come Together To Drive Clinical Trial Standards For Investigators, CROs And Sponsors

NEW YORK, Oct. 23, 2013 /PRNewswire/ -- Archbrook Capital Management LLC (Archbrook), a private equity firm based in New York and Philadelphia, today announced it has sold its controlling ownership interest in CFS Clinical (CFS) to DrugDev Inc., an interactive network and data-sharing platform for clinical trial doctors. Fairmount Partners and Anderson LeNeave served as financial advisors to Archbrook and CFS.

Archbrook first invested in CFS in 2004 by providing CFS with senior secured debt and later purchased a controlling interest in the company to fund the Company's transformation into the leading technology-enabled service provider for the business and financial management activities of clinical trials.

"Archbrook has proven to be an extremely valuable partner over the years, providing CFS with a flexible capital structure and the necessary runway to build one of the most unique and powerful financial platforms for conducting clinical trials and driving new technology standards to outdated industry processes," said Gregory Seminack, President and Managing Partner of CFS Clinical.  

"CFS was a unique investment for us where we provided the Company with both debt and growth equity to build its industry leading technology platform and execute on its growth strategy.  That patience was rewarded as CFS began scaling significantly over the last several years with many of the largest pharmaceuticals companies in the world.  We can't say enough about the job management has done in identifying the need, building out the platform and scaling the business," said John McGlinn, co-founder of Archbrook. 

"We generally target an investment horizon of four to seven years but believed strongly in the potential of CFS to transform the business of clinical trials including site start-up and delivering payments around the world.  We made the strategic decision to invest additional capital and extend our investment horizon to allow CFS to build upon its industry leading position.  This ultimately provided our investors and all shareholders of CFS with a highly successful outcome," said David Apple, co-founder of Archbrook.  

About Archbrook Capital Management:

Archbrook is a private equity firm based in New York and Philadelphia that partners with exceptional management teams who have superior business models and well-defined plans for growth.  Archbrook brings financial resources, expertise and patient capital to support the efforts of management to fully develop the companies' competitive position, drive strategic and operational improvement and improve profitability.  For more information, visit www.archbrook.com

About CFS Clinical:

CFS Clinical (CFS) is a specialty provider focused on the business and financial management activities for clinical trials. The company offers a unique blend of contract, essential site document and cutting-edge investigator payment management services which operate in unison to accelerate cycle times, manage compliance and risk, and stimulate investigator relationships. With our focused expertise, innovative processes, and integrated technology we are able to provide high quality, cost effective service solutions that address critical study startup and financial issues affecting the clinical trials process – including the Sunshine Act.  CFS Clinical was founded in 2001 and is headquartered in Audubon, PA. For more information, visit www.cfsclinical.com .

Contact: Holly CribbinsFairmount PartnersP: 610.260.6214F: 610.260.6285 holly.cribbins@fairmountpartners.com

 

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs