Cinven Nears Deal to Acquire BioClinica for $1.3 Billion

Cinven Ltd is nearing a deal to acquire U.S. clinical trial manager BioClinica Inc from another private equity firm, JLL Partners, for more than $1.3 billion, including the assumption of debt, people familiar with the matter said on Monday.

A deal between Cinven and Newtown, Pennsylvania-based Bioclinica could be finalized as early as this week, the people said, although they cautioned it could still fall through at the last minute.

The deal would underscore the private equity sector's insatiable appetite for contract research organizations, which have benefited in recent years from pharmaceutical companies' drive to cut costs, reduce clinical trial times and expand their research and development presence around the world.

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