The IMA Group (IMA) today announced it had completed the acquisition of Clinical Trials of America (CTA), a multi-therapeutic clinical trials company that brings to IMA four new independent and six embedded site locations in Louisiana and North Carolina.
CTA, based in Monroe, LA, will continue to operate with its existing leadership, investigators and staff remaining in place, led by its former CEO and President Jeb Andrews, Ph.D. Terms of the transaction we disclosed.
With CTA's deep therapeutic expertise in cardiology, gastroenterology, dermatology, vaccines, family medicine and psychiatry, the transaction adds scale, enhances diversity and further extends the reach of IMA Clinical Research in the Southeast. It also delivers IMA's tech-enabled productivity platforms and central services model to additional physicians' offices. The company’s innovative research capabilities will also help accelerate startup and patient recruitment and offers a broader array of trial opportunities to more patients for additional disease states, including nonalcoholic steatohepatitis (NASH), hypertension, atrial fibrillation, asthma and smoking cessation.
"The addition of CTA is a natural fit for our organization, expanding our clinical network and adding a large, scalable research business that further differentiates us to sponsors and contract research organizations (CRO) for fast startup, quick enrollment and high-quality outcomes," said Dr. Mark Weinberger, President and CEO of The IMA Group. "Our clinical research division has grown more than 300 percent during the past three years. CTA's integrated physician practice research model and focus on recruiting diverse patients ideally fits with IMA Clinical Research's vision and growth trajectory."
The transaction marks the seventh acquisition the IMA Group's Clinical Research division has completed since 2018 and the 15th total acquisition within the company in the same period. Previous acquisitions have focused on key regional workers' compensation IME and case management companies, as well as behavioral health and other screenings and social security disability evaluation companies. The strategic initiatives and organic growth are helping to position the company as one of the leading independent providers of outsourced healthcare evaluation and clinical research services.
"The ability to quickly find the right patients for clinical trial participation, and see those trials through to completion, is critical for researchers today," said Dr. Andrews. "With our track record and experience, our CTA team looks forward to capitalizing on the unique expertise of our two companies to meet the needs of our participants and research sponsors."
Dr. Andrews joins the IMA Clinical Research team as Senior Regional Director of Operations. A physician assistant and public health professional by training, Dr. Andrews will continue to lead the CTA sites while serving as a sub-investigator. He also will assist with new site development and principal investigator onboarding for IMA Clinical Research.
About The IMA Group:
For over 30 years, The IMA Group, headquartered in Tarrytown, New York and with offices nationwide, has been dedicated to helping people get back to work and productivity. Over the past 10 years, IMA has conducted more than three million evaluations nationwide, utilizing thousands of providers based both at IMA's 150+ offices as well as independent locations. We provide Government Services clients with medical, psychological and related evaluations, as well as ancillary services. Payer Services supports Commercial Insurers, TPAs, and corporate clients with Independent Medical Evaluations, Case Management and Occupational Health Services, Fitness for Duty determinations, Pre-Employment examinations and Forensic Drug Testing. The IMA Group is a portfolio company of Centre Partners. For more information, visit www.theIMAGroup.com.
About IMA Clinical Research:
IMA Clinical Research, a division of The IMA Group, is a physician-founded network of integrated clinical research sites specializing in Phase II-IV clinical trials in multiple therapeutic areas. With more than 150 IMA offices, IMA Clinical Research has extensive capabilities to conduct site-based, hybrid and fully decentralized clinical trials that support the development of safe and effective new treatments. The Clinical Research Division offers access to new advances in pharmacology and biotechnology for research subjects, as well as a robust database of interested clinical trial participants for pharmaceutical and device sponsors. For more information, visit www.imaresearch.com or www.theIMAgroup.com. For more information about Clinical Trials of America, visit www.ctamerica.net.