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Medpace Holdings, Inc.
FormerlyMedical Research Services (1992-bef.2014)
Company typePublic
NYSE: MEDP
S&P 600 Component
Russell 2000 Component
IndustryContract Research Organization
Founded1992
HeadquartersCincinnati, Ohio, United States
Area served
Increase Over 45 countries (2019)[1]
Key people
Dr. August J. Troendle, President and CEO
ProductsSupport services for pharmaceutical and medical device
Revenue$US 322 million (2015)[1]
Number of employees
Increase 2,800 (2019)[1]
Websitemedpace.com

Medpace (alt. MedPace) is a midsize, clinical contract research organization (CRO) based in Cincinnati, Ohio.[2][1][3] it provides services for Phase I-IV of drug and medical device development services including regulatory services and central laboratory services. The company started trading stock as a public firm in 2016.

History

Dr. August Troendle founded Medpace in Cincinnati, Ohio in 1992 as Medical Rearch Services.[4] Dr. Troendle first became interested in the CRO sector after working in both the regulatory and pharmaceutical area. He began his career as a reviewer with the FDA, specializing in the development of lipid lowering therapies to treat high cholesterol.

Medpace with a team of industry physicians, Dr. Jonathan Issacsohn and Dr. Evan Stein completed many early studies while at Medpace and Medpace Reference Laboratories on the use of statin therapies for the treatment of hypercholesterolemia.[5] Another Medpace physician, Dr. David Orloff is regarded as an industry opinion leader in the study of metabolic diseases - most specifically diabetes and obesity.[6] Dr. Troendle was honored for his work as a Medpace founder in 2012 by the Cincinnati Chamber of Commerce.[7]

Medpace completed construction on a new campus in 2012 in Madisonville, a village in the city of Cincinnati.[8] This was a project completed in cooperation with Madisonville, the City of Cincinnati Department of Economic Development, and the State of Ohio. The project encompassed revitalizing an urban brownfield site formerly occupied by NuTone, and creating a state of the art LEED certified campus.[9]

Acquisitions

  • 2007-Medpace acquires Monax in the Czech Republic[10]
  • 2009-Medpace acquires PharmaBrains AG in Switzerland
  • 2010-Medpace acquires Symbios, a medical device consultancy in Minneapolis, MN[11]
  • 2010-Medpace acquires Medical Consulting Dr. Schlichtiger, GmbH, in Germany[12]
  • 2012-Medpace acquires MediTech BV, a medical device consultancy in the Netherlands.[13]

Ownership

In 2011, CCMP Capital acquired 80% of the firm for US$285 million.[14] Three years later, in February 2014, CCMP auctioned their 80% stake in the firm, the winner of which was Cinven, who paid US$900 million.[4][14] Two and a half years after Cinven's purchase, Medpace closed its initial public offering on August 16, 2016 after selling 8,050,000 shares of common stock, becoming a public, shareholder-owned concern.[4]

Recognition

In May 2009, Medpace was recognized by CenterWatch, a CRO industry publication as a top CRO by investigative sites.[15]

In 2011 and 2012 Medpace was given the Eagle Award, an industry award by investigative sites for criteria including professionalism, partnership, efficiencies and financial considerations[16]

Further reading

  • Watkins, Steve (29 June 2018). "Which Cincinnati public company CEO delivers the best bang for the buck? (Video)". Cincinnati Business Courier. American City Business Journals. Retrieved 31 Aug 2019. It's rare to see a CEO make less money than a CFO or an executive vice president. But that's how it worked last year at Medpace Holdings Inc....

References

  1. ^ a b c d Aycock, Jason (24 June 2016). "Medpace Holdings files to raise up to $150M in IPO". Seeking Alpha. Retrieved 2016-06-26.
  2. ^ Vinluan, Frank (14 June 2011). "Mid-sized CROs perform as good or better than larger ones, survey says". MedCity News. New York, New York: Breaking Media. Retrieved 31 Aug 2019. The strong performance of mid-sized CROs was evident in the category for speed of site and investigator recruitment. Cincinnati, Ohio-based MedPace was the highest scoring CRO in survey responses for that category while large CROs such as Covance, Parexel, PPD, PRA International and Quintiles all received negative marks.
  3. ^ "S-1". EDGAR. 24 June 2016. Retrieved 2016-06-26.
  4. ^ a b c Brunsman, Barrett J. (22 August 2016). "Cincinnati CEO buys $20M worth of stock in IPO". Cincinnati Business Courier. American City Business Journals. Retrieved 31 Aug 2019. After the Aug. 16 transaction, Troendle directly owned more than 1.2 million shares of Medpace.
  5. ^ Jonathan Isaacsohn M.D., William Insull JR., M.D., Evan Stein M.D.Ph.D., Peter Kwiterovich M.D., Ma Patrick M.D., Ronald Brazg M.D., Carlos A. Dujovne M.D., Michael Shan PH.D., Elizabeth Shugrue-Crowley B.S., Steven Ripa M.D., Robert Tota M.D. (February 3, 2009). "Long-Term Efficacy and Safety of Cerivastatin 0.8 mg in Patients with Primary Hypercholesterolemia". Clinical Cardiology. 24 (Supplement S4): 1–9. doi:10.1002/clc.4960240902. PMC 6655191. {{cite journal}}: Check date values in: |year= / |date= mismatch (help)CS1 maint: multiple names: authors list (link)
  6. ^ Orloff, David. "Interview with Dr. David Orloff". August 23, 2011. Pharmaceutical Business Review. Retrieved 10 April 2013.
  7. ^ Hirt, Amy. "Courier Contributor". Cincinnati Business Courier. The Business Journals Digital Network. Retrieved 9 April 2013.
  8. ^ "Medpace Construction Ranks 3rd behind downtown mega projects". April 2010. Retrieved 10 April 2013.
  9. ^ "Brownfield Redevelopment". www.cincinnati-oh.gov. Archived from the original on 28 August 2013. Retrieved 9 April 2013.
  10. ^ "http://www.pharmatimes.com/Article/07-08-22/Medpace_acquires_Czech_CRO_Monax.aspx". August 2007. Retrieved 10 April 2013. {{cite news}}: External link in |title= (help)
  11. ^ "Medpace acquires Symbios Clinical". April 8, 2010. Pharmacy News EU. Retrieved 11 April 2013.
  12. ^ "Medpace acquires European CRO". January 2010. Retrieved 10 April 2013.
  13. ^ Morrison, Natalie (November 2012). "http://www.outsourcing-pharma.com/Commercial-Services/Medpace-boost-EU-device-offering-through-Meditech-takeover". Outsourcing Pharma. Retrieved 11 April 2013. {{cite news}}: External link in |title= (help)
  14. ^ a b Roumeliotis, Greg (23 February 2014). "Cinven to acquire Medpace in $900 million deal: sources". Reuters. Retrieved 31 Aug 2019.
  15. ^ "U.S. Sites Rate Medpace, Kendle, ICON as Top CROs in 2009". June 2009. Retrieved 9 April 2013.
  16. ^ "Clinical research sites honor Eli Lilly and Medpace with the Eagle Award". CenterWatch. June 2012. Retrieved 9 April 2013.

Official website

Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Medpace&oldid=940440543"