Worldwide Clinical Trials to Acquire Catalyst Clinical Research in $500 Million Deal
A meaningful consolidation is underway in the pharmaceutical services sector, as Worldwide Clinical Trials has agreed to acquire Catalyst Clinical Research, bolstering its capabilities in the rapidly growing field of oncology.
Mergers and acquisitions are a common occurrence within the pharmaceutical services industry, particularly among companies backed by private equity seeking to expand their service offerings and client base. This latest transaction underscores the ongoing trend of strategic consolidation aimed at enhancing competitiveness and driving growth.
Expanding Oncology Expertise
The acquisition will bring together Worldwide Clinical Trials, a full-service contract research organization (CRO) with a global presence, and Catalyst Clinical Research, a firm specializing in early-phase oncology trials. While financial details remain undisclosed, Axios reported the deal to be valued at approximately $500 million. Both companies anticipate finalizing the transaction within the current quarter.
Worldwide Clinical Trials, headquartered in Research triangle Park, North Carolina, employs roughly 3,500 individuals across more than 60 countries. The company focuses on several key therapeutic areas,including neuroscience,oncology,rare disease,and cardiometabolic and inflammatory diseases. Recent investments include the establishment of a Bioanalytical Center of Excellence and the launch of large molecule services in 2022, demonstrating a commitment to innovation. According to the 2025 directory of top 50 CROs published by the Certified Clinical research Professionals Society (CCRPS), Worldwide generates approximately $400 million in annual revenue.
Catalyst Clinical Research,based in Wilmington,North Carolina,also operates as a full-service CRO,but distinguishes itself through its specialized expertise in early-stage oncology trials. With a workforce exceeding 1,000 employees distributed across the U.S., Europe, and the Asia-Pacific region, Catalyst, while a respected player, did not achieve a ranking within the CCRPS’s top 50 CROs.
Synergies and Strategic Alignment
“Bringing Worldwide and Catalyst together elevates our capabilities in oncology and provides a new solution for our collective customers,” stated a company release from Worldwide CEO Alistair Macdonald. “we are excited to add Catalyst’s deep operational expertise and oncology credibility to our own well-known [central nervous system] specialist CRO capabilities to create a differentiated biotech-oriented oncology solution.”
The acquisition is being facilitated by Kohlberg, a private equity firm that acquired a majority stake in Worldwide Clinical Trials in 2023. TJC, a previous investor in Worldwide since 2007, will maintain a minority shareholding. Kohlberg currently manages assets exceeding $17 billion and is actively building a “pharma services ecosystem” comprised of interconnected, non-competing companies. This portfolio includes PCI Pharma Services (pharmaceutical supply chain solutions), Trinity Life Sciences (outsourced pharmaceutical commercialization), and Nelipak Healthcare packaging (drug and medical device packaging).
Catalyst Clinical Research is currently owned by QHP capital,formerly known as NovaQuest Private Equity,a Raleigh-based investment firm specializing in life sciences and pharmaceutical services. NovaQuest initially invested in Catalyst in 2018 and has since deployed over $1 billion across ten platform companies through two investment funds.
Why did this happen? Worldwide Clinical Trials sought to expand its oncology capabilities and market share. Catalyst Clinical Research, specializing in early-phase oncology trials, presented a strategic fit. the deal was also driven by
