A merger orchestrated by private equity firms Genesis Capital and Pencarrow Private Equity will create the largest clinical trial network in Australasia. The agreement combines Clinical Research (Momentum), a Genesis Capital asset, with Pacific Clinical Research Network (PCRN), which was owned by New Zealand’s Pencarrow. The combined entity will operate 20 sites across Australia and New Zealand.
Clinical Research (Momentum) conducts clinical trials on behalf of pharmaceutical and biotechnology companies. Pencarrow Private Equity is a New Zealand-based investment firm that focuses on high-growth businesses. The deal reflects growing private equity interest in the clinical trials sector, driven by increasing demand from global pharmaceutical companies seeking research capabilities in the region.
Genesis Capital and Pencarrow Private Equity have not disclosed the financial terms of the merger. This consolidation marks a significant development in the Australasian clinical research landscape. It is the latest in a string of private equity deals in the clinical trials space.
The newly formed network is poised to capitalise on the increasing demand for clinical trial services, offering a broader geographic reach and expanded capabilities. This positions it as a key player in supporting pharmaceutical and biotechnology innovation in the region.
