Nancy and Paris, France, March 10, 2020 – Banook Group, a clinical research organization (CRO) specialized in cardiac safety, centralized analyses of medical imagery and event adjudication, announces today that it has obtained new investment from Turenne Santé, via the FPCI Capital Santé 2. Along with founder Pascal Voiriot and senior management representatives, including Alexandre Durand-Salmon, Turenne Santé has now become the main investor in Banook Group, with a view to developing the company both internationally and in France. Euro Capital, based in Metz, advised by Turenne Group, and the ILP funds, based in Nancy, have also invested.
Founded in 1999 by Pascal Voiriot and based in Nancy, France, the Banook Group has developed notable expertise in the evaluation of cardiac safety in drug development trials. Banook Group works with pharmaceutical and biotech companies, CROs, non-profit organizations and academic centers involved in phase 1-3 clinical trials, prior to new medication approval. The Banook Group helps companies that develop new ECG tracing recording devices to validate their algorithm. It also has expertise in the centralized analysis of medical imagery and the adjudication of major clinical events.
This transaction, led by Turenne Santé, marks the first step in a change in management with a capital contribution by senior managers Alexandre Durand-Salmon, Yasmin Khan and Stéphane Papelier. Alongside Pascal Voiriot, their ambition is to pursue the development of the group in Europe, where Banook Group already has a strong customer base, North America and Asia. The company is also aiming for ISO certification by the beginning of 2021. According to the group’s estimates, the cardiac safety and imaging segment represented around $140 million (€123M) in 2017. It is estimated that the global CRO market should represent nearly $44 billion (€39bn) in 2021.
Pascal Voiriot and Alexandre Durand-Salmon, respectively president and CEO of the Banook Group, said: “This operation is an important step in the acceleration of our development. The Banook Group places great importance in the improvement of the quality of life of millions of patients throughout the world. This is reflected in the company culture and our commitment to bringing science closer to people. We are excited to embark on this ambitious journey with our new partners.”
Benoit Pastour, CEO of the Turenne Group, and Paul Chamoulaud, associate director of Turenne Santé, said: “The Banook Group benefits from unique expertise in the field of cardiac safety, in which they are one of the leaders in Europe. Through this deal, the first step of the transition has been undertaken between Pascal Voiriot, the current president, and the senior management. We share their ambition to grow both in Europe and internationally. With this transaction, Capital Santé 2 achieves its third investment in less than a year.”
Guillaume Capelle, associate at Adviso Partner, said: “We are happy to have accompanied the shareholders in Banook Group in this important step in the company’s development. This was a competitive process with bids from a number of potential strategic industry players and major investment funds specialized in healthcare. Turenne Santé differentiated itself with its understanding of the business and its proposition to structure operations in line with client expectations and those of the management team.”
Turenne Santé – Benoît Pastour, Paul Chamoulaud, Sophie Canetos
Euro Capital – Charles-Henri Booter
ILP – Benoît Voinot
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About Turenne Group
With more than €230M ($261M) under management, including more than €120M ($136M) raised for the FPCI Capital Santé 2, Turenne Santé supports healthcare companies in their development and transmission challenges.
The Turenne Group, one of the leaders in private equity in France, has been supporting entrepreneurs for 20 years in their innovation and development projects, as well as the sale of their companies. As an independent player, the group managed €1bn ($1.14bn) as of December 31, 2019.
Its teams, made up of 61 professionals, including 46 investors, and located in Paris, Lille (Nord Capital), Lyon, Marseille and Metz, support more than 250 business leaders, in health, hospitality, new technologies, distribution and innovative services.
The Turenne Group advocates a Socially Responsible Investor approach. It supports and coordinates the Béatrice Denys Foundation for Therapeutic Innovation, which rewards the most successful projects in French academic medical research, under the authority of the Foundation for Medical Research.
About Banook Group
The Banook Group is one of the few international providers capable of supplying cardiac safety, central imaging and endpoint adjudication services to pharmaceutical groups, biotech companies, medical device manufacturers, CROs and nonprofit organizations.
Its mission is to help its clients develop the healthcare of tomorrow, using high quality, reliable and innovative solutions in all phases of clinical trials and ultimately to bring new solutions to market for the benefit of patients.
Its medical and regulatory expertise, quality-driven approach and team availability make the Banook Group a key player in clinical trial services.
Founded in 1999, the Banook Group operates on an international scale, maintaining offices at its headquarters in Nancy, France, and in Montreal, Quebec, Canada.
To learn more about the subsidiaries of the Banook Group (CardiaBase, Banook Central Imaging and Banook Inc.), visit the website.