CoreLab Partners, a provider of medical imaging solutions and cardiac safety services based in Overlook Center, has seen a lot of changes in 2013. In the past seven months, the company has been purchased, merged, and a new person was put in charge.
In March, the company was acquired by JLL Partners, a private investment firm, and then merged into BioClinica, a biotech company based in Newtown, PA, that was also acquired by JLL in a separate transaction. Ampersand Capital Partners, the majority owner of CoreLab, was given a stake in the combined company.
BioClinica’s CEO, Mark Weinstein, was named to lead the combined company, which retained the name BioClinica. “There is an amazing pursuit for new drugs to replace the drugs coming off patent,” he said.
According to Weinstein, CoreLab has two offices in Asia, and the combined company will seek to expand the number of trials it can manage around the globe using its databases.
The addition of about 300 employees from CoreLab brought the new BioClinica’s total to about 900, with no planned layoffs, Weinstein said. The offices in Newtown and Princeton, which are both leased, are 19 miles apart, and the combined company will keep both for now.
“Given the employee bases, neither facility can absorb the other, and it will mean less disruption,” Weinstein said. “But we have told employees that we might put groups together rather than have them go back and forth between Newtown and Princeton.”
Meanwhile, in July, the former CoreLab saw a change in leadership. Former CoreLab CEO Michael Woehler left the company and was replaced by David Herron, who was named executive vice president and president of the CoreLab division.
Herron is responsible for the global strategic planning and operations of BioClinica’s medical imaging management solutions, which include software and services for the electronic transfer, management, and independent review of medical images for clinical trials.
Prior to joining BioClinica, Herron served as an executive in residence with DW Healthcare Partners, and spent four years at CCBR-SYNARC, an imaging lab dedicated to clinical trials.
Herron served in the United States Marine Corps and the Adjutant General Corps USA. He was awarded three combat service medals during Operations Desert Shield and Desert Storm.
BioClinica, 100 Overlook Center, Third Floor, Princeton 08540; 609-936-2600; fax, 609-936-2602. David Herron, president. www.bioclinica.com.