ReSearch Pharmaceutical Services (RPS) is a clinical research organization, and a little bit more. The Warburg Pincus-owned company manages clinical trials for pharmaceutical, and biotechnology companies, including finding the right site, hiring the staff, recruiting patients, collecting the data, analyzing the statistics, writing up the reports, and, hopefully, striking advantageous partnerships with companies that have fat pipelines. RPS aims to go a little further by engaging with clients earlier in the clinical development process and staying with them through the late-stage of marketing.
Change in Company Type
After filing to go public in 2010, RPS changed its plans and was instead acquired by private equity firm Warburg Pincus in 2011.
RPS has operations in 64 countries in the Americas, Europe, Asia-Pacific, the Middle East, and Africa.
While the US remains its largest market, RPS is looking to expand its international operations. The company had intended to use proceeds from an IPO to pay down its debt and continue to expand globally. Instead, it now draws upon Warburg Pincus' financial strength to help it enter markets in Asia and Eastern Europe through acquisitions.
Prior to its acquisition by Warburg Pincus, equity firm Pangaea One Acquisition Holdings owned a 25% stake in the company. Another investment vehicle, The Argentum Group, owned 15%, and The Productivity Fund held a 10% stake.
The original Research Pharmaceutical Services was founded in 1998 by Daniel Perlman and was acquired in 2007 by UK-based Cross Shore Acquisition. It then changed its name to ReSearch Pharmaceutical Services, and was publicly traded in the UK until 2009. – less