Arsenal Capital Partners, a leading New York-based private equity firm that invests in middle market healthcare and specialty industrial companies, today announced the acquisition by its portfolio company, The WIRB-Copernicus Group, of Research Dataware, LLC, software developer and provider of IRBNet, the leading software application supporting institutional review boards (IRBs).
Based in Cambridge, Massachusetts, Research Dataware enables research organizations to comply with regulations and efficiently manage the process and documentation complexities required by federal and state regulations. Launched in 2005 as a web-based, software-as-a-service (SaaS) application, IRBNet is now the most widely used electronic solution for managing the research compliance practices of institutions that conduct clinical research. IRBNet has more than 90,000 users within 1,700 hospitals, research sites, defense department facilities, universities and medical schools. In addition to IRBNet, Research Dataware’s proprietary web-based software solutions support Institutional Animal Care and Use Committees (IACUCs), Institutional Biosafety Committees (IBCs), and Institutional Conflict-of-Interests Committees (COICs). Together, this suite of enterprise-wide research compliance solutions provides institutions a comprehensive, convenient and affordable means of meeting the complex regulatory requirements of the research enterprise, while enhancing process efficiency.
Arsenal has acquired Research Dataware, LLC as an addition to The WIRB-Copernicus Group, an Arsenal portfolio company. The WIRB-Copernicus Group was formed by the acquisition of Western IRB (WIRB) in February, 2012 and of the Copernicus Group IRB (CGIRB) in June, 2012. The WIRB-Copernicus Group provides the world’s leading ethical and regulatory services that support the clinical research enterprise.
“We are delighted to welcome the extraordinary professionals of Research Dataware into Arsenal and into The WIRB-Copernicus Group,” said Donald A. Deieso, Ph.D., Operating Partner and Co-Head of Arsenal's Healthcare Group and Executive Chairman of The WIRB-Copernicus Group. “IRBNet is a valuable extension of The WIRB-Copernicus Group platform for delivering the gold-standard of IRB review and consulting services to our institutional clients that include hospitals, universities and medical schools,” he added.
“We will continue to grow The WIRB-Copernicus Group in ways that add tremendous value to its clients and the industry,” said Stephen McLean, a Partner at Arsenal and Co-Head of the firm’s Healthcare Group. “The addition of Research Dataware to The WIRB-Copernicus Group not only provides institutional clients with a first-rate technology solution, but creates the only comprehensive solution suite of ethical review services and technology available today,” he added.
“We are proud to partner with Arsenal Capital and The WIRB-Copernicus Group; both organizations bring deep industry experience and a transformational approach to the ethical review process,” said Jeremy Katz, President and Founder of Research Dataware, LLC. “We share their mission to enable institutions to conduct high-quality, efficient, ethical research, and look forward to our accelerated growth in academic medical centers and hospitals.”