RG Corporate Finance (RGCF) has been appointed to support a significant acquisition-led growth strategy being delivered by the global market leading decentralised clinical trials specialist Medical Research Network Ltd (MRN).
RGCF leading an acquisition programme that will enable the company to expand its services, including the strategic deployment of clinical trial technology to support remote, hybrid and virtual clinical trials.
MRN, which has its UK headquarters in Milton Keynes and offices in the US, Spain, Germany, and Japan works with some of the world’s leading pharma, biotech and CRO companies, specialising in conducting clinical trials in patients’ homes as well as supporting clinical trial sites with specialist nursing resources.
The strategy aims to deliver further growth as MRN enhances its operational capabilities, having built market leading positions in North America, Europe and Australasia. MRN’s strategic success was celebrated this year, with a Queen’s Award for Enterprise – International Trade, adding to the Alantra Pharma Fast 50 recognition in 2021, for being one of the UK’s fastest growing healthcare firms.
It currently operates in five of the six key geographies for clinical trials, with community-based trials taking place in more than 42 countries conducting ~1,600 visits a month.
This activity has helped MRN increase revenues to £53 million in 2021 and grow its headcount to more than 300.
To develop its offering, further expand clinical services, develop greater digital/e-clinical support and strengthen its geographic and operational footprint, MRN is embarking on a growth strategy with the scope to include mergers, acquisitions, strategic investments, or joint ventures.
RGCF will work alongside MRN to maintain its growth to develop and integrate the range of DCT components that brings together complex solutions to create a more cohesive service for its customers.
Graham Wylie, founder and CEO of MRN, said: “MRN has experienced significant, profitable, organic growth in recent years, and we are now in a position to take the company further forward through an acquisitive strategy that will allow us to diversify and strengthen our existing capabilities in key global markets.
“Our strategy is in line with the ambitions of the organisation we have had in place since we were founded in 2006 and we are keen to bring forward-thinking, dynamic businesses into MRN that share our passion and commitment to the clinical trials industry and global healthcare.”
Nick Johnson, Partner at RGCF, said: “MRN is at the forefront of the global decentralised clinical trials sector, which has come under the spotlight following the COVID-19 pandemic, accelerating the development and interest in this area of the wider clinical trials market.
“We have a strong understanding of the organisation, through our longstanding relationship with the business and our recent support of its latest round of fundraising. As a result, we are well placed to help MRN identify potential acquisition targets, which will help it deliver upon its strategy and create a stronger, more diverse business that will become even more instrumental to the world’s development of medicines.”