As part of the recapitalization, Trio becomes the first participating company in a series of strategic acquisitions by a partnership between Halifax, SV Life Sciences and an experienced management team led by Pat Donnelly. Mr Donnelly most recently served as CEO and president of PRA International.
Trio bridges the gap between full-service clinical research organizations and traditional staffing companies by providing trial management, functional outsourcing, and professional resourcing services.
Trio co-founders Faye Woolf and Betsy Brown retain a significant equity stake in the company and will continue to lead the same management team at Trio Clinical Research. Halifax, SV Life Sciences and management provided the equity for the transaction.
Ms Woolf said: “We believe the market for Trio’s unique menu of clinical trial services is robust and growing and our new partnership with Halifax and SV Life Sciences will enhance Trio’s ability to take advantage of these opportunities on a global basis with the additional capital.”