Medpace Holdings, Inc. is a global clinical research organization (CRO) based in Cincinnati, Ohio,[2][1][3] employing approximately 5,400 people. Medpace's mission statement is "to accelerate the global development of safe and effective medical therapeutics" through its high science and disciplined operating approach that leverages local, regulatory, and deep therapeutic expertise across all major areas, including oncology, cardiology, metabolic disease, endocrinology, central nervous system, and anti-viral and anti-infective. Operating under a full-service model, Medpace provides a therapeutically focused, integrated, global approach to clinical development. The company also offers global central laboratory, imaging core laboratory, and bioanalytical laboratory services, as well as a Phase I unit located on its headquarters and clinical research campus in Cincinnati, Ohio.
 | |
| Formerly | Medical Research Services (1992-bef.2014) |
|---|---|
| Company type | Public |
| Industry | Contract Research Organization |
| Founded | 1992 |
| Headquarters | Cincinnati, Ohio, U.S. |
Area served |  Over 40 countries (2023)[1] |
Key people | August J. Troendle (CEO & chairman of the board of directors) |
| Products | Support services for pharmaceutical, biotech, and medical device companies |
| Revenue | US$1.46 billion (2022)[1] |
Number of employees | 5,400 (2023)[1] |
| Website | medpace |
The company started trading stock as a public firm in 2016.
History
August Troendle founded Medpace in Cincinnati, Ohio, in 1992 as Medical Research Services.[4] Troendle first became interested in the CRO sector after working in both the regulatory and pharmaceutical area. He began his career as a reviewer with the FDA, specializing in the development of lipid lowering therapies to treat high cholesterol.
With a team of industry physicians, Jonathan Issacsohn and Evan Stein completed many early studies while at Medpace and Medpace Reference Laboratories on the use of statin therapies for the treatment of hypercholesterolemia.[5] Another Medpace physician, David Orloff was regarded as an industry opinion leader in the study of metabolic diseases – most specifically diabetes and obesity.[6] Troendle was honored for his work as a Medpace founder in 2012 by the Cincinnati Chamber of Commerce.[7]
Medpace completed construction on a new campus in 2012 in Madisonville, a neighborhood on the eastern side of Cincinnati.[8] The project encompassed revitalizing an urban brownfield site formerly occupied by NuTone, and creating a state of the art LEED (Leadership in Energy and Environmental Design) certified campus.[9]
In 2022, Medpace announced a $150 million capital investment to expand its headquarters in Cincinnati, Ohio, adding an estimated expansion of 1,500 new jobs.
Acquisitions
- 2007 – Medpace acquires Monax in the Czech Republic[10]
- 2009 – Medpace acquires PharmaBrains AG in Switzerland
- 2010 – Medpace acquires Symbios, a medical device consultancy in Minneapolis, Minnesota[11]
- 2010 – Medpace acquires Medical Consulting Dr. Schlichtiger, GmbH, in Germany[12]
- 2012 – Medpace acquires MediTech BV, a medical device consultancy in the Netherlands.[13]
Ownership
In 2011, CCMP Capital acquired 80% of the firm for US$285 million.[14] Three years later, in February 2014, CCMP auctioned their 80% stake; the winner was won by Cinven, who paid US$900 million.[4][14] In August 2017, Medpace went became a publicly-traded company with its initial public offering, selling 8,050,000 shares of common stock.[4]
Recognition
In 2021, Medpace was named a 2021 SCRS Eagle Award finalist. The SCRS Eagle Award honors one Sponsor and one CRO that exemplifies a site-focused approach to clinical trial management and has demonstrated outstanding leadership, professionalism, integrity, passion, and dedication to advancing the clinical research profession through strong site partnerships. Also, in 2021, Medpace was recently ranked 10 in the 2021 LinkedIn Top 10 Companies in Cincinnati and Forbes America’s Best Mid-size Companies. These rankings measure important elements of career progression, including advancement, skills growth, company stability, external opportunity, company affinity, gender diversity, and educational background.
In 2023, Medpace has been recognized with 5 CRO Leadership Awards for reliability, quality, expertise, compatibility, and capabilities. 46 contract research organizations were assessed on 20+ performance metrics in ISR’s annual CRO Quality Benchmarking survey to determine the CROs that meet or exceed their customers’ expectations.
Further reading
- Watkins, Steve (29 June 2018). "Which Cincinnati public company CEO delivers the best bang for the buck? (Video)". Cincinnati Business Courier. American City Business Journals. Retrieved 31 Aug 2019.
It's rare to see a CEO make less money than a CFO or an executive vice president. But that's how it worked last year at Medpace Holdings Inc....
References
External links
- Official website
- Business data for Medpace Holdings, Inc.: