Cincinnati-based ProScan Imaging, LLC, today announced that it has acquired 51 percent ownership of WorldCare Clinical (WCC) from its parent company, WorldCare Limited, a pioneer and leader in the development, commercialization, and distribution of global e-health services and solutions.
WCC is a central imaging core lab that specializes in the expert interpretation, measurement, and analysis of medical images as a proven strategy for accelerating clinical trials. Utilizing the most advanced imaging technologies available, WCC assembles teams with world-class therapeutic expertise in a wide range of disease states to deliver comprehensive drug development services.
Under the new partnership arrangement, WorldCare Limited will retain 49-percent ownership of WCC and its headquarters will remain in Cambridge, Massachusetts. WorldCare Clinical was advised in this transaction by Crosstree Capital Partners (www.CrosstreeCapital.com).
Originally conceived by the Massachusetts General Hospital (MGH) Department of Radiology to provide drug development services to the pharmaceutical and medical device industries, WorldCare Clinical was created by MGH in 1992 under a different name and then spun off in 1995.
The following members have been appointed to the board:
Massachusetts General Hospital, the oldest and largest teaching hospital of Harvard Medical School, has had a strategic relationship with WorldCare Clinical since its inception in 1992. The Department of Radiology at MGH has provided services to the pharmacology companies that utilize WCC as their image core lab. This relationship will remain and continue to grow.
“Starting today, WorldCare Clinical’s teams will have full access to both ProScan’s extensive network of medical imaging facilities and the extensive therapeutic and radiological expertise of MGH,” said Rafael Mancera, who will serve as Chief Executive Officer. “Drawing on the resources of 27 fully owned and managed advanced imaging centers and more than 300 physician-supervised, managed sites in the United States, Europe, and Australia, we can reduce turnaround, enhance patient registration, provide uniform technical oversight, and ensure rigid adherence to clinical study designs.”
Before joining ProScan in 2005, Mancera served as Treasurer and Senior Director of Mergers and Acquisitions at Kendle International, Inc., a global provider of drug development services to the pharmaceutical industry. A native of Mexico City, he also acquired considerable experience in international banking and finance with Banco Nacional de Mexico, S.A., where he was Executive Vice President in charge of its European operations.
“WorldCare Clinical is positioned for greater success due to the newly formed relationship with Proscan,” said Rick Taranto, President of WorldCare Clinical. “Our ability to provide imaging site qualification and training has expanded significantly by having direct access to technologists and equipment vendors. We now have the opportunity to create a truly different service from those that exist in the market today and I look forward to sharing our expanding capabilities with sponsors that demand the high quality service we provide.”