BOSTON— Private investment firm BayPine has announced a definitive agreement to acquire CenExel Clinical Research, a leading U.S.-based clinical trial site network specializing in complex therapeutic areas. The deal will make BayPine the majority investor in CenExel, with current backer Webster Equity Partners retaining a minority stake alongside company management.
Financial terms of the transaction were not disclosed. The deal is expected to close in the second quarter of 2025, subject to regulatory approvals and customary closing conditions.
Headquartered across 18 U.S. metropolitan locations, CenExel is recognized for its expertise in central nervous system (CNS) research and other high-need therapeutic areas. The company has supported over 10,000 clinical trials and enrolled more than 100,000 patients, providing services from protocol development to patient recruitment, retention, and data collection.
“CenExel is a pioneering business at the center of a rapidly evolving clinical research landscape,” said Tom O’Rourke, Partner at BayPine. “As pharmaceutical sponsors shift toward functional outsourcing models, scalable and specialized site networks like CenExel are becoming essential partners.”
BayPine plans to enhance CenExel’s digital infrastructure and leverage AI-enabled tools to boost site performance and streamline patient recruitment. “We see tremendous potential to evolve CenExel into a next-generation, digitally-enabled research platform,” added Michael Attal, Principal at BayPine.
CenExel CEO Ryan Brooks said the company chose BayPine for its commitment to innovation and digital transformation. “We’ve built a resilient enterprise focused on scientific excellence and regulatory integrity. With BayPine, we will have the resources to expand our capabilities and strengthen our value to customers,” he said.
Webster Equity Partners, which previously supported CenExel’s growth, will continue as a minority investor.
