2025 SCRS Global Site Solutions Summit: Navigating Site Mergers & Acquisitions

An interactive panel at the 2025 Society for Clinical Research Sites (SCRS) Global Site Solutions Summit in Orlando, FL, discussed the decision-making process for selling clinical research sites, with an emphasis on the importance of timing, cultural fit, and personal goals.

Considering the right time to sell

The discussion was moderated by Fabian Sandoval, president, Emerson Clinical Research Institute, and featured insights from chief executives including Steve Clemons, CEO, ObjectiveHealth; Nicole Osborn, CEO, Todata Analytics; William Smith, CEO, AMR Clinical; and Mark Weinberger, president, CEO, The IMA Group.

Following a brief introduction, Sandoval kicked off the session by asking the panel to give their advice on finding the right time to sell a site. Most agreed that it depends heavily on personal factors such as where a seller might be in their career and what they are looking to do next.

“All of us had different visions, I think, across this panel of what it meant to sell,” Clemons said. “For me personally, it was just time for that partnership to move to something different, and it was time for me to move to something different at the same time and capitalize on some of the work that we had done.”

Evaluating cultural fit in a partnership

Smith said that if a seller is looking to grow their site and continue to be an integral part of the process, they should state that up front and ensure their goals align with those of the buyer. He emphasized that investigating the culture of the buyer is a crucial part of the selling process.

“Picking the right partner is a critical part of this, so get to know them. Get to know some of their key people,” Smith said. “Really look closely at what the culture of your company is and see if it's a fit with the culture of the other because it's a marriage.”

Piggybacking off Smith’s comments about researching a buyer’s culture, the panel transitioned into a more detailed discussion about what sites should be looking for when considering companies they want to sell to.

Weinberger explained: “You need to know and look in the mirror and say, ‘Am I willing to change my business, to become part of another business? Am I going to micromanage my business?’ You need to really understand what you want from it and honestly look at your own traits of what will be a successful partnership.”

Negotiating noncompete agreements

Another important aspect of the selling process is negotiating noncompete agreements. Once again, the panel agreed that it is crucial for the seller to understand what they want out of the transaction moving forward. Noncompete agreements in the research site space may include details such as barring the seller from opening a site within 100 miles of the one they sold, or even from doing any kind of site work within the continent.

“The noncompete is something you should read. You should understand it, and you should try to keep it as narrow as you can, because there are a lot of different angles in clinical research to take: CRO, site, consulting, tech, etc.,” Weinberger said.

Final considerations for site owners

As the interactive discussion came to a close, the panel members shared their final thoughts on considerations that are often overlooked by sellers. Some key points included sharing the same concerns around quality versus quantity with the buyer, and hiring a banker that understands the clinical research space to assist in the process if the seller has scale.

“Talk to a lawyer, talk to your CPA (certified public accountant), tell them that you're even considering transacting in the next couple of years. There are things that you can do to plan for that, and there is a such thing as negotiation fatigue,” Osborn concluded. “When you're going through it and you have so many people that you're having meetings with, it gets exhausting, and having those few people around you that are in on what you're trying to do during the time—that support system—is essential.”

Reference

Sandoval F, Clemons C, Osborn N, Smith W, Weinberger M. To Sell Or Not To Sell? Navigating Site Mergers & Acquisitions. September 30, 2025. 2025 SCRS Global Site Solutions Summit.