Key Highlights
- PharmAlliance acquires Monitorforhire (MFH), marking its second significant acquisition after BioBridges in September 2023.
- The acquisition expands PharmAlliance’s capabilities in the drug, biologic, and device development lifecycle, adding a unique online system for matching clinical research monitors with sponsors.
- Monitorforhire to operate as a division of BioBridges, enhancing its specialized services and leveraging a network of over 4,000 clinical research professionals.
Source: Business Wire
Notable Quotes
- “Monitorforhire’s unique approach to providing essential clinical research monitoring resources is a valuable extension of the PharmAlliance portfolio,” – Mark Bouck, Chairman & CEO at PharmAlliance and BioBridges
- “Our proprietary technology enables professionals and clients to engage seamlessly and efficiently, and will create new growth opportunities for BioBridges,” – Scott Freedman, President and Founder Monitorforhire
- “Together, we will continue to make an even greater impact while upholding our shared focus on quality and service,” – Jason Falchuk, Founder at BioBridges
SoH's Take
The acquisition of Monitorforhire by PharmAlliance represents a significant strategic move in the pharmaceutical and life sciences industry. It not only demonstrates PharmAlliance’s commitment to diversifying and strengthening its service offerings but also underscores the importance of technology and innovation in streamlining clinical research processes. By integrating Monitorforhire’s unique online system with BioBridges’ expertise, PharmAlliance is poised to offer more comprehensive and efficient solutions to its clients. This acquisition highlights the growing trend of consolidation in the industry, aiming to create end-to-end solutions that cater to the entire drug development lifecycle. The move is likely to set a new standard in the sector, enhancing the quality and efficiency of clinical research globally.
