Cincinnati-based clinical research organization
is having a year of notable changes, thanks to the continuation of a long-laid plan, and a recently announced partial acquisition.
In 2010, Medpace began the relocation of its operations to a new facility on Red Bank and Madison roads in Madisonville. The move, supported in part by a 15-year, 75 percent LEED tax abatement on the first of three planned buildings, a 132,000 square-foot office building.
The company has planned from the beginning to construct two additional buildings to house research labs. Construction manager Al Neyer, Inc. recently closed the bidding process for subcontractors for the new buildings, and on May 25 Cincinnati City Council approved a pair of 15-year tax exemptions for the new buildings, which are planned to be built to LEED certified standards.
"Originally, when we built the headquarters, we had two labs in Norwood," said company spokesperson Mary Kuramoto. "The plan has always been to move them to the new location."
But Medpace's latest news has little to do with its brick-and-mortar developments: the company announced May 23 that affiliates of the global private equity firm CCMP Capital Advisors, LLC
, are in talks with the company to acquire an 80-percent ownership share. The acquisitions will allow Medpace to expand its global reach and enhance its ability to conduct phase I-IV clinical studies, said Medpace CEO August Troendle in a press release announcing the move.
A spokesperson for CCMP Capital Advisors' New York City office declined to comment on the deal, but noted - as did Medpace via press release - that more news on the deal may be released in June.
Writer: Matt Cunningham
Photography by Matt Cunningham