CRF Health Announces Receipt of Regulatory Approvals and Completion of Investment by Vitruvian Partners

HELSINKI, February 2, 2015 /PRNewswire/ --

CRF Health, the leading global provider of eCOA solutions for the life sciences industry, today announced the completion of the investment by funds managed and advised by Vitruvian Partners ("Vitruvian"), positioning Vitruvian as the majority shareholder of CRF Health. The transaction has now received all regulatory approvals.

Rachael Wyllie, who will continue to lead CRF as Chief Executive Officer, said: "We are very pleased to announce the completion of this investment by Vitruvian Partners. The management team look forward to working with Vitruvian to continue the development of CRF Health. Together we have ambitious plans for the growth of the company both from a resource and technology perspective to ensure high levels of customer satisfaction."

Philip Russmeyer, a Partner at Vitruvian, added: "CRF Health has experienced phenomenal growth and we believe that through this investment we can bring new resources, strategic insight and scale that will take an already outstanding business to a new level. We look forward to working with CRF Health's executive team to further build on their vision and dedication to deliver patient-focused technology solutions with the highest quality outcomes for the pharmaceutical industry."

For further information on CRF Health, please visit http://www.crfhealth.com.

About CRF Health 

CRF Health is a leading provider of electronic Clinical Outcome Assessment (eCOA) solutions for global clinical trials.  With experience in about 550 trials, over 100 languages and across 74 countries, CRF Health's TrialMax eCOA solutions consistently demonstrate the industry's highest data accuracy, patient and site compliance, and patient retention.

CRF Health's TrialMax eCOA solutions improve trial engagement by fitting into the lives of patients and seamlessly integrating into sites to maximize protocol compliance.  The company's eCOA solutions include PROs (Patient Reported Outcomes), ObsROs (Observer Reported Outcomes) and ClinROs (Clinician or Rater Reported Outcomes).

The company and previous shareholders including Verdane Capital Advisors were advised by Jefferies, Travers Smith, LEK, KPMG, Pepper Hamilton and Castrén & Snellman. The management team was further advised by BDO and DLA Piper.

About Vitruvian Partners 

Vitruvian is an independent private equity firm which specialises in middle-market buyouts, growth buyouts and growth capital investments. Vitruvian focuses on investing in 'dynamic situations' in industries characterised by rapid growth and change, such as information technology, healthcare, media, telecoms, financial services, business services, and leisure. Vitruvian is currently investing VIP II, its recently raised fund of £1 billion. The firm's previous investments in the technology and healthcare sectors include Just Eat, Snow Software, Callcredit Information Group and Healthcare at Home.

Vitruvian was advised by EY, Shearman & Sterling, Borenius, Marlborough Partners, Kirkland & Ellis, BCG, KPMG and PwC.

SOURCE CRF Health