Medpace

Last updated
Medpace Holdings, Inc.
FormerlyMedical Research Services (1992-bef.2014)
Company type Public
Industry Contract Research Organization
Founded1992;32 years ago (1992)
Headquarters Cincinnati, Ohio, U.S.
Area served
Increase2.svg Over 40 countries (2023) [1]
Key people
August J. Troendle (CEO & chairman of the board of directors)
ProductsSupport services for pharmaceutical, biotech, and medical device companies
Revenue US$1.46 billion (2022) [1]
Number of employees
Increase2.svg 5,400 (2023) [1]
Website medpace.com

Medpace Holdings, Inc. is a global clinical research organization (CRO) based in Cincinnati, Ohio, [2] [1] [3] employing approximately 5,400 people. Medpace's mission statement is "to accelerate the global development of safe and effective medical therapeutics" through its high science and disciplined operating approach that leverages local, regulatory, and deep therapeutic expertise across all major areas, including oncology, cardiology, metabolic disease, endocrinology, central nervous system, and anti-viral and anti-infective. Operating under a full-service model, Medpace provides a therapeutically focused, integrated, global approach to clinical development. The company also offers global central laboratory, imaging core laboratory, and bioanalytical laboratory services, as well as a Phase I unit located on its headquarters and clinical research campus in Cincinnati, Ohio.

Contents

The company started trading stock as a public firm in 2016.

History

August Troendle founded Medpace in Cincinnati, Ohio, in 1992 as Medical Research Services. [4] Troendle first became interested in the CRO sector after working in both the regulatory and pharmaceutical area. He began his career as a reviewer with the FDA, specializing in the development of lipid lowering therapies to treat high cholesterol.

With a team of industry physicians, Jonathan Issacsohn and Evan Stein completed many early studies while at Medpace and Medpace Reference Laboratories on the use of statin therapies for the treatment of hypercholesterolemia. [5] Another Medpace physician, David Orloff was regarded as an industry opinion leader in the study of metabolic diseases – most specifically diabetes and obesity. [6] Troendle was honored for his work as a Medpace founder in 2012 by the Cincinnati Chamber of Commerce. [7]

Medpace completed construction on a new campus in 2012 in Madisonville, a neighborhood on the eastern side of Cincinnati. [8] The project encompassed revitalizing an urban brownfield site formerly occupied by NuTone, and creating a state of the art LEED (Leadership in Energy and Environmental Design) certified campus. [9]

In 2022, Medpace announced a $150 million capital investment to expand its headquarters in Cincinnati, Ohio, adding an estimated expansion of 1,500 new jobs.

Acquisitions

Ownership

In 2011, CCMP Capital acquired 80% of the firm for US$285 million. [14] Three years later, in February 2014, CCMP auctioned their 80% stake; the winner was won by Cinven, who paid US$900 million. [4] [14] In August 2017, Medpace went became a publicly-traded company with its initial public offering, selling 8,050,000 shares of common stock. [4]

Recognition

In 2021, Medpace was named a 2021 SCRS Eagle Award finalist. The SCRS Eagle Award honors one Sponsor and one CRO that exemplifies a site-focused approach to clinical trial management and has demonstrated outstanding leadership, professionalism, integrity, passion, and dedication to advancing the clinical research profession through strong site partnerships. Also, in 2021, Medpace was recently ranked 10 in the 2021 LinkedIn Top 10 Companies in Cincinnati and Forbes America’s Best Mid-size Companies. These rankings measure important elements of career progression, including advancement, skills growth, company stability, external opportunity, company affinity, gender diversity, and educational background.

In 2023, Medpace has been recognized with 5 CRO Leadership Awards for reliability, quality, expertise, compatibility, and capabilities. 46 contract research organizations were assessed on 20+ performance metrics in ISR’s annual CRO Quality Benchmarking survey to determine the CROs that meet or exceed their customers’ expectations.

Further reading

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References

  1. 1 2 3 4 Aycock, Jason (24 June 2016). "Medpace Holdings files to raise up to $150M in IPO". Seeking Alpha. Retrieved 2016-06-26.
  2. ↑ Vinluan, Frank (14 June 2011). "Mid-sized CROs perform as good or better than larger ones, survey says". MedCity News. New York, New York: Breaking Media. Retrieved 31 Aug 2019. The strong performance of mid-sized CROs was evident in the category for speed of site and investigator recruitment. Cincinnati, Ohio-based MedPace was the highest scoring CRO in survey responses for that category while large CROs such as Covance, Parexel, PPD, PRA International and Quintiles all received negative marks.
  3. ↑ "S-1". EDGAR. 24 June 2016. Retrieved 2016-06-26.
  4. 1 2 3 Brunsman, Barrett J. (22 August 2016). "Cincinnati CEO buys $20M worth of stock in IPO". Cincinnati Business Courier. American City Business Journals. Retrieved 31 Aug 2019. After the Aug. 16 transaction, Troendle directly owned more than 1.2 million shares of Medpace.
  5. ↑ Jonathan Isaacsohn M.D., William Insull JR., M.D., Evan Stein M.D.Ph.D., Peter Kwiterovich M.D., Ma Patrick M.D., Ronald Brazg M.D., Carlos A. Dujovne M.D., Michael Shan PH.D., Elizabeth Shugrue-Crowley B.S., Steven Ripa M.D., Robert Tota M.D. (September 2001). "Long-Term Efficacy and Safety of Cerivastatin 0.8 mg in Patients with Primary Hypercholesterolemia". Clinical Cardiology. 24 (Supplement S4): IV1-9. doi:10.1002/clc.4960240902. PMC   6655191 . PMID   11594407.{{cite journal}}: CS1 maint: multiple names: authors list (link)
  6. ↑ Orloff, David. "Interview with Dr. David Orloff". August 23, 2011. Pharmaceutical Business Review. Retrieved 10 April 2013.
  7. ↑ Hirt, Amy. "Courier Contributor". Cincinnati Business Courier. The Business Journals Digital Network. Retrieved 9 April 2013.
  8. ↑ "Medpace Construction Ranks 3rd behind downtown mega projects". April 2010. Retrieved 10 April 2013.
  9. ↑ "Brownfield Redevelopment". cincinnati-oh.gov. Archived from the original on 28 August 2013. Retrieved 9 April 2013.
  10. ↑ "Medpace acquires Czech CRO". Pharma Times. 22 August 2007. Retrieved 10 April 2013.
  11. ↑ "Medpace acquires Symbios Clinical". April 8, 2010. Pharmacy News EU. Retrieved 11 April 2013.
  12. ↑ "Medpace acquires European CRO". January 2010. Retrieved 10 April 2013.
  13. ↑ Morrison, Natalie (20 November 2012). "Medpace boost EU device offering through Meditech takeover". Outsourcing Pharma. Retrieved 11 April 2013.
  14. 1 2 Roumeliotis, Greg (23 February 2014). "Cinven to acquire Medpace in $900 million deal: sources". Reuters. Retrieved 31 Aug 2019.
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