NMS-backed Flourish Research Recapitalizes Great Lakes Clinical Trials and Clinical Site Partners

NMS Capital Forms Flourish Research and Recapitalizes Clinical Trials of Texas

August 12, 2021

Healthcare Services

NMS Capital formed a new platform, Flourish Research, and completed a recapitalization of Clinical Trials of Texas (CTT) in partnership with founder Kay Scroggins and company management. The deal makes CTT the inaugural partner in a buy-and-build strategy to create a nationwide network of clinical research sites; CTT is headquartered in San Antonio, Texas, operates a 20,000+ sq. ft. facility and has conducted over 1,000 trials across more than 15 therapeutic areas.

Flourish Research / NMS Capital Recapitalize Excel Medical Clinical Trials

October 14, 2021

Healthcare Services

NMS Capital portfolio company Flourish Research partnered with Excel Medical Clinical Trials in a recapitalization. The Boca Raton, Florida-based clinical research site, founded by Dr. Seth Baum and focused on cardiology indications, will join Flourish's site network to expand the platform's geographic footprint and therapeutic capabilities; terms were not disclosed and management will remain in place.

Flourish Research (NMS Capital) Recapitalizes Keystone Clinical Studies

October 6, 2022

Healthcare Services

Flourish Research, a portfolio company of NMS Capital, partnered with Keystone Clinical Studies' management in a recapitalization transaction. Keystone, a Plymouth Meeting, Pennsylvania-based clinical research site focused on Alzheimer’s disease and CNS conditions, will continue to be led by founder Dr. Cherian Verghese as part of the Flourish platform to expand CNS capabilities and enter the Philadelphia market.

Flourish Research (NMS Capital-backed) Acquires Valley Clinical Trials

September 15, 2023

Healthcare Services

NMS Capital–backed Flourish Research has acquired Valley Clinical Trials, a three-site clinical research organization in Los Angeles County focused on cardiology, metabolic and related therapeutic areas. The deal — Flourish’s ninth acquisition since 2021 — expands the platform’s West Coast footprint; terms were not disclosed and Valley’s founder and management will remain in their roles.

Flourish Research (NMS Capital) Recapitalizes AMC Research and Central Research Associates

May 18, 2023

Healthcare Services

NMS Capital portfolio company Flourish Research partnered with company management to recapitalize AMC Research, LLC (Charlotte, NC) and Central Research Associates (Birmingham, AL). The transactions expand Flourish’s clinical research site network—augmenting its Alzheimer’s capabilities and adding scale in cardiology/metabolic/renal, vaccine and other therapeutic areas; terms were not disclosed.

Genstar Capital Acquires Majority Stake in Flourish Research

September 18, 2024

Healthcare Services

Genstar Capital has made a strategic majority investment in Flourish Research, a multi-site clinical trial organization headquartered in Apex, North Carolina. The transaction represents an exit for NMS Capital, which built Flourish into a 24-site network with ~150 investigators and scaled the business through infrastructure investments and acquisitions.