PINNACLE CLINICAL RESEARCH ACCELERATES ITS RAPID EXPANSION WITH MULTIPLE ACQUISITIONS AND STRATEGIC PARTNERSHIPS
NEW ORLEANS, June 18, 2024 /PRNewswire/ -- LongueVue Capital ("LVC") is pleased to announce that its portfolio company Pinnacle Clinical Research ("Pinnacle" or the "Company"), a leading site organization founded by Dr. Stephen Harrison and specializing in complex therapeutic areas, has completed successful investments in Kerwin Medical Center ("KMC"), The Cognitive and Research Center of New Jersey ("CRCNJ"), Bellaire Clinical Research ("Bellaire"), Palmetto Clinical Research – Low Country ("Palmetto"), and Dallas Research Institute ("DRI"). These five additions to the Pinnacle network broaden Pinnacle's geographic footprint to include twelve total sites across the U.S. In addition, the KMC and CRCNJ acquisitions expand Pinnacle's therapeutic area expertise into central nervous system ("CNS") indications with a focus on Alzheimer's Disease ("AD"). These acquisitions further bolster Pinnacle's value proposition as a leader across multiple complex therapeutic indications while providing high quality patient care, superior patient enrollment timelines, and access to underrepresented patient populations.
"Pinnacle's rapid expansion to twelve best-in-class sites from only three sites in 2022, coupled with its renowned physician-led executive team, further solidifies the Company as the leading site network focused on multiple complex therapeutic areas" said Ryan Nagim, Managing Partner and Head of Healthcare at LVC. He added, "We remain committed to supporting Pinnacle's continued growth both organically and through acquisitions."
"We are extremely excited to announce the addition of five sites across Texas, the Southeast, and Northeast to the Pinnacle network," said Dr. Rashmee Patil, CEO of Pinnacle. "Our goal is to pioneer lasting treatments for complex diseases, and we are committed to providing clinical trial opportunities to patients who have traditionally been underserved. We believe that these new site partnerships will enhance our mission as we broaden our scope and clinical proficiency."
"KMC is thrilled to partner with Pinnacle and support the Company's therapeutic area expansion," added Dr. Diana Kerwin, the founder of KMC and CNS Medical Director of Pinnacle. "In my new role at Pinnacle, I look forward to continuing to focus on delivering clinical excellence for CNS-related trials as well as expanding and enhancing Pinnacle's capabilities to support CNS studies throughout the network. Furthermore, I am excited to welcome Dr. Michelle Papka, a friend, colleague, and founder of CRCNJ, to the Pinnacle team as we both share a similar vision of duplicating Pinnacle's metabolic disease state expertise in the CNS sector."
"Pinnacle and LVC are the perfect partners to grow CRCNJ's footprint," noted Dr. Michelle Papka, the founder of CRCNJ and CNS Scientific Director at Pinnacle. She added, "As Pinnacle's CNS Scientific Director, I will work alongside Dr. Kerwin and Dr. Patil to expand Pinnacle's AD thought leadership and enhance our sphere of influence within CNS research. There is tremendous value in offering sponsors a scaled network that focuses primarily on complex indications, as it provides deeper therapeutic expertise and superior clinical execution."
ABOUT KERWIN MEDICAL CENTER:
Headquartered in Dallas, Texas, KMC is a leading clinical research network with an established reputation for superior enrollment and patient care for complex CNS studies with a focus on AD. KMC operates one site in Dallas and is currently opening another site in South Dallas. KMC was founded in 2019 by Dr. Diana Kerwin, a leading Key Opinion Leader with over 20 years of experience in Alzheimer's and dementia research, who was previously in academia at the world-renowned Northwestern University Cognitive Neurology and Alzheimer's Disease Center and is now an Adjunct Assistant Professor at the University of Texas Southwestern Medical Center. She is Board Certified in Internal Medicine and Geriatrics and is the principal investigator on phase I, II, and III clinical trials for the development of therapeutics in Alzheimer's and related dementias such as progressive supranuclear palsy, Lewy Body dementia, and NIH-funded studies for the prevention of Alzheimer's dementia.
ABOUT THE COGNITIVE AND RESEARCH CENTER OF NEW JERSEY:
Headquartered in Springfield, New Jersey, CRCNJ is a leading Northeast-based CNS clinical research site with a focus on AD. CRCNJ operates one site in Springfield, New Jersey and is currently opening its second site location in Ridgewood, New Jersey. Dr. Michelle Papka, a respected thought leader in AD who holds deep relationships with top AD sponsors, founded CRCNJ in 2009 to establish a stronghold for CNS clinical trials in the New Jersey market. CRCNJ's reputation for top quality care is a core driver of patient referrals in the traditionally difficult-to-recruit CNS space.
ABOUT BELLAIRE CLINICAL RESEARCH:
Headquartered in Houston, Texas, Bellaire is a rapidly growing clinical trial site with a focus on metabolic disease and obesity-related clinical trials. Bellaire has established a reputation for outperforming enrollments as well as serving disproportionately impacted patient populations.
ABOUT PALMETTO CLINICAL RESEARCH - LOW COUNTRY:
Headquartered in Summerville, South Carolina, Palmetto is a multidisciplinary clinical site focused on metabolic disease, obesity, and CNS-related studies. Palmetto was founded by a team of experienced physicians focused on clinical research, including Dr. Colby Grossman, a general practitioner with 30+ years of clinical trial experience, Dr. Matt Carlile, a board certified Neurologist, and Dr. Brett Van Leer-Greenberg, a board certified Gastroenterologist.
ABOUT DALLAS RESEARCH INSTITUTE:
Headquartered in Dallas, DRI is focused on executing complex metabolic clinical trials in underserved communities supporting underrepresented patient populations.
Managing Partner Ryan Nagim was assisted by Principal Austin Rees, Director Kent McCarty, Vice President Erin Saer, and Associates Rankin Hobbs and Hutton Johnston.
Crosstree Capital Partners served as the buyside advisor to LongueVue Capital for both the KMC and CRCNJ transactions.
Valcadia Healthcare Partners served as the sellside advisor for CRCNJ.
To learn more about Pinnacle, KMC, CRCNJ, and Palmetto, please visit:
ABOUT LONGUEVUE CAPITAL
Founded in 2001, LongueVue Capital is a New Orleans-based equity investment firm focused on providing transformational growth capital to middle-market companies, drawing upon its successful 20+ year track record of partnering with entrepreneurs and management teams to drive value creation. With over $1 billion of committed capital spanning five funds coupled with 150+ years of combined operating and investing experience, LVC is an ideal partner for middle-market companies at inflection points seeking to maximize value for all stakeholders.
For more information, please visit www.lvcpartners.com, and for media inquiries, please contact [email protected] or call (504) 293-3600.
SOURCE LongueVue Capital
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