New York, NY, June 25, 2024 – NMS Capital (“NMS”) portfolio company Flourish Research (“Flourish”) announced today that it has partnered with ENCORE™ Research Group (“ENCORE” or the “Company”). ENCORE™ is a leading clinical research organization with eight locations across Northern Florida. With 100+ investigators, ENCORE™ brings expertise across multiple therapeutic areas including cardiology, metabolic, neuroscience, gastroenterology, orthopedics, autoimmune, pediatrics, early phase and infectious disease. The partnership with ENCORE™ represents the eleventh addition to Flourish since its formation in 2021 and will complement the Flourish platform through additional scale, a depth of therapeutic experience, as well as key talent. Terms of the transaction were not disclosed.
In 1997, Dr. Michael Koren founded ENCORE™ and, subsequently, has scaled the organization significantly, building an extensive physician network in Northern Florida that provides a differentiated approach to clinical research. Since its inception, ENCORE™ has conducted 3,200+ clinical trials across 50+ therapeutic areas. Dr. Koren is a practicing cardiologist, a fellow of the American College of Cardiology, two-time past President of the Academy of Physicians in Clinical Research, and President of the regional chapter of the American Heart Association. As a thought leader, Dr. Koren has published dozens of peer-reviewed manuscripts in the highest impact journals, including Journal of the American College of Cardiology, Circulation, New England Journal of Medicine, and The Lancet. He holds US Patents (one pending) related to improving the clinical research process. He started and serves as the Executive Editor for MedEvidence!™, an educational platform for patients and physicians which houses resources for study recruitment and physician training (medevidence.com).
Dr. Koren, Founder and CEO of ENCORE™, said, “We have been very impressed during our interactions with the Flourish team and feel confident that we’ve found the right partner for our next phase of growth. Our staff and extensive network of physician investigators have expressed enthusiasm about our future with Flourish, working together to provide the best clinical trial services as part of a national company.”
Reinhold Schulz, CEO of Flourish Research, noted, “We are excited to welcome ENCORE™ to the Flourish family. I’ve gotten to know Dr. Koren and his key lieutenants very well and the cultural fit was evident from our initial meetings. ENCORE™ brings expertise that will be additive to Flourish and has a robust backlog and pipeline of studies that will bring immediate value to the combined organization.”
Luis Gonzalez, Senior Partner at NMS Capital, noted “The partnership with ENCORE™ further enhances Flourish’s geographic footprint and capabilities in its core therapeutic areas while bringing a deep bench of scientific thought leaders. The transformative partnership will provide ENCORE™ the opportunity to leverage the significant infrastructure investment Flourish has made in its differentiated patient recruitment, commercial, and diversity strategy. This approach will result in a win-win for our patients, employees, and biopharma customers”
About Flourish Research:
Flourish Research was founded to address the highly fragmented clinical trial site market. By acquiring and fully integrating best-in-class sites, Flourish provides a unique opportunity to serve sponsors and CROs with increased speed and efficiency across a variety of therapeutic areas and indications, while offering a single point of entry to multiple sites. Flourish currently has locations in Alabama, California, Florida, Illinois, North Carolina, Pennsylvania, Maryland and Texas. For additional information on Flourish, please visit our website at https://flourishresearch.com/
About NMS Capital:
Founded in 2010, NMS Capital is an experienced private equity firm managing assets in excess of $1.5 billion. Since inception, NMS has partnered with management teams in over 150 investments and follow-on acquisitions across defined investment themes within the Business Services and Healthcare Services industries. The firm’s principal strategy is to create long-term value by providing strategic and operational resources to growth-oriented companies led by founders or experienced management teams. NMS has successfully built industry leading lower middle market companies in defensible and scalable end markets by accelerating organic and acquisition-driven growth.
For additional information on NMS, please visit the firm’s website at www.nms-capital.com. Follow NMS Capital on www.linkedin.com/company/nms-capital.
For further information:
Jonathan Spero
Principal
(212) 574-7014
jspero@nms-capital.com