Theorem Clinical Research quantifies its clients' medical theories. The company, formerly known as Omnicare Clinical Research, is a contract research organization (CRO) offering drug development services, from Phase I to Phase IV clinical trials, to drug and medical device companies worldwide. The CRO has special expertise in the research areas including cardiovascular care, dermatology, geriatrics, infectious disease, metabolism, oncology, and vaccines. Services include patient and investigator recruitment, clinical trials management, safety monitoring, statistical analysis, drug packaging, medical writing, and regulatory review assistance. The company was acquired by equity firm Nautic Partners in 2011.
Previously, the company was a unit of institutional pharmacy operator Omnicare. After determining that the CRO operations were no longer a good strategic fit, Omnicare sold Omnicare Clinical Research to Nautic Partners in April 2011 for an undisclosed sum. Following the sale, the company was renamed Theorem Clinical Research.
As an independent company, the firm is focused on providing a full range of clinical trial and technical services for medical devices, pharmaceuticals, and biotech drugs in a variety of therapeutic areas, across every stage of development. It is also working to expand its global customer base, which is presently served from research and service centers in the Americas, Australia, Europe, and Asia. Theorem Clinical Research's acquisition by Nautic Partners gives it additional resources to refresh its business and look towards growth measures.
Prior to the sale, Theorem Clinical Research had been experienced financial difficulties due to a downturn in the CRO market, which was caused by poor economic conditions and R&D budget cuts in the pharmaceuticals industry. As a result, Omnicare restructured its CRO operations to reduce costs in 2010, combining its biotech CRO division, Clinimetrics, into the Omnicare Clinical Research organization.
The combined organization was then organized into specialized business units designed to focus on specific customer needs. Theorem Clinical Research continues to use this specialist structure, operating through six divisions covering early phase clinical trials, phase II/III clinical trials, late phase clinical trials, medical devices, pharmaceutics (packaging and distribution of clinical trial medication supplies), and technical services (data management, biometrics, and medical writing services).
Theorem Clinical Research was first founded as a division of Omnicare in 2000. In its early years, the company took advantage of its parent's access to elderly patient populations and investigators by focusing on specialty research in the geriatrics field. – less