Harnessing Powerful Data Assets with eClinical’s Intelligent Data Analytics and Management
Spawned as a classic management buyout from The Eliassen Group in November, 2012, eClinical Solutions provides clinical trial management software and services for large and mid-size pharma companies to harness and manage their clinical data. The Company’s elluminate product platform is a next generation clinical data repository to integrate pharma companies’ clinical data and patient information from any source, in any data format or structure. Through powerful data analytics and intelligent data management and configuration, companies can harness and configure their clinical data assets for patient trial enrollment and management. Commencing with three founders, Raj Indupuri, Bob Arnesen and Bharat Agrawal, the Company has now grown from fourteen initial employees to two hundred current employees and another twenty independent contractors and consultants, with operations in Mansfield, Massachusetts and Bangalore, India, and with over $21 million in annual revenue for 2018.
Morse has been fortunate and thrilled to represent eClinical through its rapid growth trajectory since its inception. Led by corporate partner John Hession, Morse was primarily responsible for the structure and negotiation of the management buyout, negotiated the founders’ term loans and line of credit and formation documents, and engineered the Equity Incentive Plan. Morse has been instrumental in introducing the Company to commercial banks and private equity investors, negotiating and structuring a $4 million line of credit and working capital facility with Cambridge Trust Bank, advising on complex LLC tax matters and equity arrangements, negotiating large contracts, establishing the employee and consulting arrangements and related equity awards, and actively participating in corporate governance matters. The Firm also assists eClinical with its data privacy compliance needs, including the complexities of the EU’s General Data Protection Regulation (GDPR). John Hession participates actively in attending Board meetings, and serves as an outside adviser to the Company on business and financing strategy. Morse continues to partner with eClinical on its legal needs as the Company’s extraordinary evolution and aggressive growth continue.