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Today's Transactions:
JLL Partners Picks Up BioClinica and CoreLab

The PE firm paid $123M for BioClinica, a company that provides clinical-trial management

Private equity firm JLL Partners Inc. has announced two acquisitions in the healthcare sector, picking up BioClinica (Nasdaq: BIOC), a provider of clinical trial management, and CoreLab Partners Inc., a provider of medical imaging and cardiac safety services.

While terms of the CoreLab deal remain undisclosed, New York-based JLL agreed to pay $7.25 a share for BioClinica, which results in an equity value of roughly $123 million.

BioClinica is headquartered in Newtown, Pa., while CoreLab is headquartered in Princeton, N.J. The two companies will be merged to create a provider of imaging services for medical trials.

Private equity firm Ampersand Capital Partners, the majority owner of CoreLab, will remain invested in the combined company.

The BioClinica transaction marks the first take private deal for JLL since it purchased American Dental Partners Inc. for $392 million, or $19 per share in cash, in February 2012.The firm followed up with an add-on acquisition for portfolio company Patheon Inc. (TSX: PTI), which purchased Banner Pharmacaps, a manufacturer of gelatin-based medicinal products, for $255 million in October. 

 

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