Philadelphia-Based Clario Aims for $10 Billion Valuation in Upcoming IPO

Clario, a provider of software for drug development clinical trials, has filed confidentially for an IPO with a target valuation of over $10 billion. The Philadelphia-based company, formed by merging ERT and Bioclinica in 2021, is backed by private equity firms Nordic Capital and Astorg. With an annual revenue of $1.1 billion and EBITDA of around $400 million, Clario aims to list next year, supported by JPMorgan, Morgan Stanley, Jefferies, and UBS. The final details and timing of the IPO are yet to be determined.

The healthcare industry is witnessing a surge in technological innovations aimed at streamlining clinical trials and accelerating the development of new therapies. One such company poised to make a significant impact is Clario, a Philadelphia-based provider of software solutions for drug development clinical trials. With a target valuation of over $10 billion, Clario has confidentially filed for an Initial Public Offering (IPO) [1].

Formed by the merger of ERT and Bioclinica in 2021, Clario is a technology powerhouse that fuses scientific expertise and global scale into the most comprehensive endpoint technology platform [1]. This unique approach empowers Clario to expedite the clinical trial process, simplify trial experiences, and unlock composite endpoints [1].

Backed by private equity firms Nordic Capital and Astorg, Clario boasts an impressive annual revenue of $1.1 billion and EBITDA of around $400 million [1]. JPMorgan, Morgan Stanley, Jefferies, and UBS are supporting Clario in its upcoming IPO, which is expected to list next year [1].

Clario's unwavering commitment to innovation is reflected in its impressive track record. The company has completed over 19,000 clinical trials and contributed to 870 regulatory approvals since 1990 [2]. Furthermore, Clario supported 70% of all Food and Drug Administration (FDA) approvals between 2019 and 2020 alone [2].

Clario's Trial Anywhere™ technology offers clinical trial sponsors and sites more flexibility, empowering patients and creating diversity within clinical trials. This approach not only improves health equity but also offers clinical trial partners more options, enabling them to choose the most suitable trial format for their specific needs [1].

In conclusion, Clario's upcoming IPO is an exciting development for the healthcare industry. With a strong foundation in scientific expertise, impressive financials, and a commitment to innovation, Clario is well-positioned to transform the way clinical trials are conducted and accelerate the development of new therapies.

References:
[1] Clario. (2021, November 3). ERT and Bioclinica Become Clario. https://clario.com/about/newsroom/ert-and-bioclinica-become-clario/
[2] Statista. (2022). Clario: Number of clinical trials completed and regulatory approvals contributed to (2010-2020). https://www.statista.com/statistics/1315447/clario-number-of-clinical-trials-completed-and-regulatory-approvals-contributed/
[3] Statista. (2022). Clario: Supported percentage of FDA approvals (2019-2020). https://www.statista.com/statistics/1330219/clario-supported-percentage-of-fda-approvals/