Clinical trials, management software maker Bio-Optronics draws $30M investment

By Dave Muoio
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— a producer of software and services focused on clinical research, automated scheduling, and patient safety — has announced $30 million in funding from growth equity firm Mainsail Partners.

The new funding will be used to accelerate product development, improve customer service capacities, and boost sales and marketing efforts, according to the company.

“Our business is founded on providing great software products with exceptional customer support,” Bio-Optronics CEO Dan Kerpelman said in a statement. “We did not need to raise capital to continue our growth, but rather chose to partner with Mainsail in order to invest more heavily in our products and in our customers’ success. Mainsail took the time and effort to develop a relationship with the company over the last several years, and I am confident they will add meaningful value.”

Among Bio-Optronics’ primary offerings is Clinical Conductor, a clinical trial management system marketed to clinical research operations on its regulatory compliance flexibility and efficiency. The software also manages data related to finances, recruitment, and the trial’s participants, and includes reporting and monitoring tools. The company’s Momentum platform targets physician and medical staff scheduling, and includes a mobile app that allows practitioners to more conveniently view their shifts.

Bio-Optronics also produces the Biopoint suite of patient safety and access products. These include an automated patient tracking application, documentation resources, and a patient ID system that uses traceable wristbands containing the wearer’s name, photo, and relevant medical information.

“Over the years [Bio-Optronics has] demonstrated an ability to develop compelling new products and features for the global market, a dedicated focus on serving their customers, and a track record of strong growth,” Michael Anderson, partner at Mainsail Partners, said in a statement. “The company’s Clinical Conductor product should benefit from the continued growth in the number and complexity of clinical trials, and the Momentum scheduling product should continue to grow rapidly as healthcare organizations stop building medical staff schedules manually and instead use software to help automate the process.”

Bio-Optronics also announced that Anderson, Taylor McKinley, operating partner at Mainsail, and David Farsai, VP at Mainsail, will be joining the company’s board of directors.

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