EdgeCap Acquires Majority Stake in Comac Medical

Comac Medical is the leading full-service clinical research organization.

I Stock 1415118219

Comac Medical announced that funds advised by EdgeCap Partners acquired a majority equity interest in the company. Comac's founder and CEO, Dr. Milen Vrabevski, as well as other shareholders, retain a significant minority stake and will continue in their current roles as executive managers, thereby providing continuity to all its clients and partners. 

Headquartered in Sofia, Bulgaria, and established in 1997, Comac Medical is the leading full-service clinical research organization (CRO) in Southern Eastern Europe, present in more than 30 countries and providing a comprehensive range of early to late-phase drug development services to the global pharmaceutical and biotech industries across a variety of therapeutic areas.

"This transaction is a significant milestone for Comac Medical and its over 350 employees who contribute to our success daily. To continue our strong growth trajectory in the years to come and to meet our customers' needs, we are looking to significantly expand operations while preserving our unique culture that has served as the foundation of our success. EdgeCap supports this vision and is committed to investing significant resources to capitalise on an exciting opportunity ahead. I am thrilled to start this next chapter in our journey and partner with Kristjan and Chris as we work towards the growth and success of Comac Medical," said Vrabevski.

The transaction has been completed in June 2023. Kristjan Piilmann, Chris Backes, and Dr. Günter Schmid, Senior Operating Partner for EdgeCap, will join Comac's Board of Directors.

Financial terms of the deal were not disclosed.

More in News