Covington Associates Announces Advisory Role in the Sale of Casimir to Emmes

March 10, 2022 (Boston, MA) – Covington Associates, a leading middle market investment bank announced its role as exclusive financial advisor to Casimir, a U.S. based CRO, in the sale of its business to Emmes, a global, full-service Clinical Research Organization (CRO) dedicated to supporting the advancement of public health and biopharmaceutical innovation and a portfolio company of Behrman Capital. Casimir has experience in more than 20 rare diseases and has worked with regulators, sponsors and patients to develop outcome measures that capture the nuances of disease progression and treatment benefit. Terms of the transaction were not disclosed.

Emmes’ acquisition of Casimir – the fourth since Behrman’s investment in 2019 – will further accelerate the Company’s strategic focus on rare disease research, building on Emmes’ successful acquisition of Orphan Reach last year. With the added enrichment of Casimir’s proprietary clinical outcomes technology, Emmes will be even better positioned as the industry-leading CRO in rare and orphan disease clinical research and drug development.

Grant Behrman, Managing Partner of Behrman Capital, said, “The acquisition of Casimir represents another important step towards accelerating Emmes’ core focus on rare diseases. This transaction marks an additional expansion of the Company’s platform under our ownership period with the enhancement of Casimir’s leading expertise and capabilities. Emmes is in an incredibly strong position to deliver value to all its stakeholders, and we continue to be proud in having helped to drive the Company’s upward growth trajectory.”

Emmes Chief Executive Officer Dr. Christine Dingivan said, “This is another exciting step for Emmes in just over a year, as we continue to add new biopharma clients and deepen our innovative research capabilities. The combination of Casimir and Emmes will further differentiate our global rare disease center of excellence, Orphan Reach™. We plan to continue and accelerate the groundbreaking work of Casimir in neurodegenerative and neuromuscular conditions with remote data capture and patient outcome standardization.”

Casimir CEO and Co-Founder Christine McSherry said, “Emmes’ long history and passion to improve public health were instrumental in our decision to join this outstanding company. The size and reach of Emmes will give us an even greater ability to expand our current platform and outcomes development expertise to other neurodegenerative diseases and therapeutic areas.”

For Emmes, Goodwin Procter served as legal counsel. For Casimir, Covington Associates acted as exclusive financial advisor and Buckingham acted as legal advisor.

ABOUT COVINGTON ASSOCIATES

Covington Associates is an investment banking firm offering advisory services in the areas of mergers and acquisitions (“M&A”), capital raising and strategic advisory to middle-market companies across the Healthcare, Business Services, Consumer & Industrial, and Technology verticals.  Founded in 1991 and based in Boston, the vision for Covington has been to provide clients with the highest caliber of senior-level attention and to remain an advice driven and results focused organization.  Since its inception, Covington Associates has completed over 350 transactions globally for both private and publicly traded companies totaling over $30 billion. Further information can be found at http://www.covingtonassociates.com/overview/.

ABOUT CASIMIR

Headquartered in Plymouth, Massachusetts and founded in 2016, Casimir’s CRO services begin with the patient’s perspective, as the company takes new approaches to its clinical studies that help build a better understanding of rare disease progression and treatment. It prioritizes virtual trials and remote assessments, focuses on qualitative research that centers on the patient experience, and captures the real-world impact of treatment interventions on patient quality-of-life through smart outcome measures.

ABOUT EMMES

Founded in 1977, Emmes is a global, full-service Clinical Research Organization dedicated to excellence in supporting the advancement of public health and biopharmaceutical innovation. The company’s clients include numerous agencies and institutes of the U.S. federal government and a wide range of biotechnology, pharmaceutical and medical device companies throughout the world. To learn more about how our research is making a positive impact on human health, go to the Emmes website at www.emmes.com.

 ABOUT BEHRMAN CAPITAL

Based in New York City, Behrman Capital was founded in 1991 by Grant G. and Darryl G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth businesses. The company’s investments are focused in three industries: defense and aerospace, healthcare services, and specialty manufacturing and distribution. Since its inception, the firm has raised $4.0 billion and is currently investing out of its sixth fund.