CRF Health

In 2013, Verdane Capital VII acquired shares in CRF Health, a global provider of electronic patient reporting solutions, from Danish-based Nordic Venture Partners. At the time, CRF was a top 3 global player in its field and well-positioned to capitalise on a strong market potential within Clinical Outcome Assessment (COA), a market growing an estimated 17-25 p.a., mainly driven by a global conversion from paper to paperless trials.

The Verdane fund gained majority control of CRF and worked actively with the management to establish a new growth strategy. Improvements in operational processes and governance structures were implemented, as well as an expansion of CRF’s product offering to fully capture the market shift away from paper to paperless clinical outcome reporting. Verdane also helped the company cement its technology leadership in the eCOA market, broaden the focus to target new therapeutic areas and launch new, complementary services. The company’s board and management was strengthened, and a new employee-incentive program was introduced. 

CRF Health was sold to Vitruvian Partners in January 2015, after becoming a global leader in the eCOA market with a blue-chip client base.