Pinnacle Clinical Research, a LongueVue Capital Portfolio Company, Completes Combination with South Texas Research Institute
San Antonio, Texas (January 10, 2023) - Pinnacle Clinical Research (“Pinnacle”), a portfolio company of LongueVue Capital (“LVC”) and a leading site organization specializing in complex therapeutic areas, is pleased to announce its successful combination with South Texas Research Institute (“STRI” or the “Company”).
Headquartered in Edinburg, Texas, STRI is a multi-location clinical site organization specializing in complex indications, including hepatology with a focus on non-alcoholic fatty liver disease (“NAFLD”) and nonalcoholic steatohepatitis (“NASH”). The Company operates two of the leading NASH enrollment sites in the country and has an established reputation for superior patient recruitment and care focused on a diverse patient population in the clinically underserved Rio Grande Valley.
With this complementary merger, the combined Pinnacle and STRI platform expands its network and geographic footprint to six stand-alone and dedicated sites, enhances patient recruitment diversity, and increases scale. Dr. Rashmee Patil, a Yale graduate with medical training from New York University and Baylor College of Medicine, and STRI’s Founder & CEO, will assume the role of CEO of the combined business.
“Having observed Dr. Patil and her team the last few years, I am pleased they are now part of the Pinnacle platform. STRI has demonstrated success enrolling diverse patient populations and is predominately focused on the Hispanic demographic who are historically underrepresented in clinical trials,” said Pinnacle Chairman Dr. Stephen Harrison. “STRI’s steadfast commitment to quality, compliance, and patient care is a strong synergistic fit.”
“We are thrilled to announce the combination of STRI and Pinnacle,” commented Dr. Rashmee Patil, Founder & CEO of STRI. “Our mission is to support the medical community in developing treatments for complex indications and to ensure that clinical trials enroll a diverse patient population affected by a particular disease state. We will continue to bring clinical trial opportunities to patients who have historically lacked access, and Pinnacle and LVC will aid in that mission to expand our reach and domain expertise."
“Since its 2020 inception, the STRI team has developed a best-in-class organization and opened two locations generating rapid growth,” added Ryan Nagim, Managing Partner and Head of Healthcare at LVC. “We are excited to expand Pinnacle’s market position and welcome Dr. Patil as the CEO of the newly combined Pinnacle and STRI entity.”
“STRI’s track record of executing clinical trials for complex indications, including NASH, uniquely positions it to provide immediate value and synergies to Pinnacle,” added Dr. Adrian Otte, LVC’s Life Science Operating Partner. He continued, “this business combination will further enhance Pinnacle’s position as a thought leader in the sector.”
Ryan Nagim and Dr. Adrian Otte were assisted by Principal Austin Rees, Director of Strategic M&A Kent McCarty, Senior Associate Erin Saer, and Associate Rankin Hobbs. LVC’s legal counsel was provided by Norton Rose Fulbright (US) LLP.
To learn more information about Pinnacle and its services, visit www.pinnacleresearch.com
To learn more information about STRI and its services, visit www.southtexasresearchinstitute.com
About LongueVue Capital
Founded in 2001, LongueVue Capital is a New Orleans-based equity investment firm focused on providing transformational growth capital to middle-market companies, drawing upon its successful 20+ year track record of partnering with entrepreneurs and management teams to drive value creation. With over $850 million of committed capital spanning four funds coupled with 150 years of combined operating and investing experience, the LVC team is an ideal partner for middle-market companies at inflection points and seeking to maximize value for all stakeholders. LVC has made successful investments in a wide variety of industries including healthcare, life sciences, transportation and logistics, food and beverage, specialty packaging, consumer, and industrial services. For more information, please visit www.lvcpartners.com, and for media inquiries, please contact email@example.com or call 504.293.3600.