Cascadia Capital, an investment bank serving middle market clients globally, today announced that it acted as the exclusive financial advisor to MedQIA, LLC on its merger with WorldCare Clinical, a portfolio company of DFW Capital, to form Voiant.
Founded in 2007 and headquartered in Los Angeles, MedQIA provides clients with an automated technology platform to manage imaging and sites for their clinical trials, with full operational support services on demand. The company utilizes artificial intelligence to modernize image workflow within clinical trials and image analysis helping clients perform trials with better efficiency, increased quality with a quicker turnaround, accelerating trial timelines to improve drug discovery and bringing state-of-the-art care to patients.
MedQIA, WorldCare Clinical and DARC are excited to announce their merger and the launch of their newly rebranded organization: Voiant, LLC. The strategic move aims to consolidate an industry-leading AI-based clinical trial imaging platform with unparalleled scientific and clinical domain expertise, providing biopharmaceutical organization with high-speed delivery of quality clinical endpoint data.
“This combination will allow MedQIA to accelerate its growth and increase its market share within the industry,” said Adam Stormoen, Managing Director at Cascadia Capital. “We are pleased to have delivered another successful outcome in the clinical trials sub-vertical and look forward to continuing to support clients in the space.”
“Cascadia’s ability to rapidly understand our business and their experienced and dedicated team were instrumental in helping our team to navigate an extremely complex transaction, which ultimately resulted in a deal closely aligned with MedQIA’s growth objectives and expertise in the global clinical trials ecosystem,” said Jonathan Goldin, MedQIA Co-Founder. “This deal will facilitate and accelerate our vision to use advanced technology to revolutionize the management of the imaging aspect of drug and device clinical trials.”
This acquisition represents another successful transaction for Cascadia’s Healthcare Group in the Healthcare Tech ecosystem. Other recent transactions completed by the Healthcare team include: