Friday, June 8, 2007

Radiant Research Sells To Private Equity Group

Bellevue, Washington-based Radiant Research, a provider of clincial research services for the biopharmaceutical, nutrition, and medical device industry, said today that it has sold the business to an ownership group led by ICICI Venture. Terms of the sale were not disclosed. Radiant Research has previously received venture funding from Mayfield, Oak Investment Partners, Salix Ventures, and ABS Capital. The firm's new owners said that they intend to build the firm by acquiring business/companies globally. The firm's management team remains in place.