Portfolio

MedAvante, Inc.

MedAvante is the world’s leading provider of centralised assessments that can improve the reliability of clinical trials for central nervous system (CNS) disorders


Founded in 2007, MedAvante has pioneered methods for the centralized rating of clinical endpoints that enhance assay sensitivity in CNS clinical trials.  Centralization of clinical ratings standardizes the assay design and reduces variability.  This in turn can increase the accuracy of trial outcomes and enhancing signal detection through reduction of the placebo effect that is common in psychiatric studies.  MedAvante’s approach makes subjective endpoints in psychiatry more objective.   The company has a significant number of the top tier pharma and biotech among its clients. 

Essex Woodlands made this growth equity investment into MedAvante in 2010. 

Transaction Summary

  • MedAvante was founded in 2007 with a mission to improve endpoint standardization in psychiatric clinical trials
  • Until 2013, the centralized rating utilized was conducted by psychiatrists at MedAvante who performed all patient assessments
  • In 2014, the VIRGIL tablet was developed, a proprietary tablet sent to the rating sites, which successfully enabled electronic source data capture or Electronic Clinical Outcome Assessments (eCOA)
  • In early 2016, Essex Woodlands was approached by Trevi Health Capital for an acquisition of MedAvante, and the company was sold in May 2016
  • Hamilton, NJ

  • Contact:
  • www.medavante.com
  • Acquisition
  • Acquired by: Trevi
  • Exit date: May 27, 2016
  • Logo

“Essex Woodlands is the premier brand in healthcare PE. The primary reason is that Essex provides value well beyond the realm of finance. Many - if not most - capital providers are financial engineers; they see the world and their portfolio companies through the narrow prism of finance and pathways to exit. This makes for a limited partnership since CEOs need capital partners who can see the world as they do – more like 3 dimensional chess. CEOs need capital partners who can be valuable sounding boards across a wide range of issues: refining the business model, determining the most logical sequence of growth adjacency moves, assessing the trade-offs between different options for globalizing, ensuring an effective mix of Board directors, and of course, being able to open doors and provide introductions through a deep network. Essex’s support goes well beyond financial counsel and into this broader realm of value creation. You know when you pick up the phone to stress test your thinking with your Essex partner that you will have a sounding board who not only understands these issues but can share best practices from Essex’s broad portfolio, and beyond that has the depth of experience to provide practical insight and thoughtful feedback. For all of these reasons I strongly recommend Essex as not only the premier healthcare brand but the right partner. ”

Paul M. Gilbert

CEO