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PharmAlliance Announces Acquisition of Monitor for Hire
Morrisville, NC — Jan. 11, 2024 — PharmAlliance, a diversified pharmaceutical and life sciences services provider, is pleased to announce its acquisition of Monitorforhire (MFH), a robust business that leverages an online system matching clinical research monitors with sponsors. With this acquisition, PharmAlliance expands its global reach to serve the development and commercialization needs across the drug, biologic, and device development lifecycle by providing diverse and disruptive end-to-end solutions.
The Monitorforhire acquisition is the second for PharmAlliance, a portfolio company of Waud Capital. In September 2023, PharmAlliance acquired BioBridges, which provides clinical development services to emerging and established pharmaceutical, biotechnology, and medical device companies.
“Monitorforhire’s unique approach to providing essential clinical research monitoring resources is a valuable extension of the PharmAlliance portfolio,” said Mark Bouck, Chairman & CEO of PharmAlliance and BioBridges. “These services complement BioBridges’ commitment to providing clients with experienced, qualified professionals ready to positively advance drug development programs.”
Monitorforhire will operate as a division of BioBridges, which has focused on providing experienced professionals with work reflecting their experience and interests in the pharmaceutical, biotechnology, and medical device industry. With Monitorforhire, BioBridges will add a new specialized vertical of expertise and services for both clients and its international network of 4,000+ clinical research professionals.
“We have proudly developed and delivered the industry’s most trusted platform for clinical research monitors and their clients for more than 20 years,” said Monitorforhire President and Founder Scott Freedman. “Our proprietary technology enables professionals and clients to engage seamlessly and efficiently, and will create new growth opportunities for BioBridges.”
“We are excited to welcome Scott and Monitorforhire to the PharmAlliance and BioBridges’ family,” said Jason Falchuk, founder of BioBridges. “Scott is a true visionary, having created a novel approach to addressing and accomplishing clinical research. Together, we will continue to make an even greater impact while upholding our shared focus on quality and service that the professionals and our clients have come to expect."
Janney Montgomery Scott served as MFH’s financial advisor for this transaction.
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About PharmAlliance
A pharmaceutical and life sciences services platform designed to serve a variety of discovery, development, and commercialization needs across the drug development lifecycle through diverse and disruptive end-to-end solutions. www.pharmallianceportfolio.com
About BioBridges
BioBridges is a leading provider of drug, biologic, and device consulting services spanning development through commercialization. A trusted advisor to clients and consultants with a flexible delivery model, providing scarce resources on a fractional basis that creates a “win-win” for both clients and consultants. www.biobridges.com
About Monitorforhire
Monitorforhire is the leading web-enabled resource management company providing unparalleled 24/7 access to the world’s largest online network of screened, qualified, and available independent clinical research monitors. www.monitorforhire.com