SurgePE Closes Elite Clinical Network Investment

Building a Stronger Future: SurgePE Partners with Elite Clinical Network for Clinical Trial Expansion

The clinical trial industry is undergoing a rapid transformation, driven by advancements in technology and a growing demand for innovative treatments. To keep up with this changing landscape, Surge Private Equity, LLC (SurgePE) has partnered with Elite Clinical Network, LLC (ECN) to expand its network of research sites and accelerate the development of new drugs and vaccines.

ECN, an integrated platform operating a network of phase I-IV clinical research sites across California, Arizona, and Nevada, has completed thousands of studies and has a proven track record of success. With its extensive industry knowledge, advanced practices, and proprietary database of over 100,000 research study candidates, ECN has become a leading player in the field.

The strategic partnership between SurgePE and ECN is valued at approximately $200 million and was made possible with debt financing provided by affiliates of MGG Investment Group LP. The deal was finalized with the assistance of Merritt Healthcare Advisors, Houlihan Lokey, and BakerHostetler, who provided financial advice, due diligence, and legal counsel respectively.

Sanjay Gulati, Principal at SurgePE, expressed confidence in the partnership, stating, "We are impressed with the success that management has achieved to date and are excited to partner with CEO David Wilson III to support the next phase of building a national network." Gulati highlighted ECN's high new site launch growth rate, long-standing customer relationships, and a significant diversified backlog as factors contributing to its continued expansion in the clinical trial industry.

With a dedicated network of 14 research sites and more in development across the United States, ECN offers a wide range of physician specialties, ensuring efficient patient acquisition for clinical trials. Their ability to satisfy sponsor enrollment goals within six months of activation enables pharmaceutical companies and contract research organizations to swiftly launch new vaccines and drugs, while minimizing costs.

SurgePE, founded in 2017, specializes in majority investments in growing businesses with $3-$30 million of EBITDA. The Dallas-based private equity firm, along with its lending partners, provides entrepreneurs with liquidity and investors with higher yields. SurgePE seeks to invest in companies where the seller will remain active in an ongoing capacity, fostering a collaborative approach to business growth.

This partnership comes at a crucial time, as the clinical trial industry grapples with the challenges posed by COVID-19. The need for innovative treatments and vaccines has never been more urgent, and SurgePE's investment in ECN will help expedite the development and delivery of life-saving therapies.

In conclusion, the partnership between SurgePE and ECN represents a significant milestone for the clinical trial industry. By leveraging their respective expertise and resources, they are poised to revolutionize the way clinical trials are conducted. With a shared vision of advancing medical research and improving patient outcomes, SurgePE and ECN are paving the way for a brighter and healthier future.