Medpace

Medpace Holdings, Inc. is a global clinical research organization (CRO) based in Cincinnati, Ohio,^[2][1][3] employing approximately 5,400 people. Operating under a full-service model, the company also offers global central laboratory, imaging core laboratory, and bioanalytical laboratory services, as well as a Phase I unit located on its headquarters and clinical research campus in Cincinnati, Ohio.

Medpace Holdings, Inc.

Formerly	Medical Research Services (1992-bef.2014)
Company type	Public
Traded as	Nasdaq: MEDP S&P 400 component
Industry	Contract Research Organization
Founded	1992; 33 years ago (1992)
Headquarters	Cincinnati, Ohio, U.S.
Area served	Over 40 countries (2023)[1]
Key people	August J. Troendle (CEO & chairman of the board of directors)
Products	Support services for pharmaceutical, biotech, and medical device companies
Revenue	US$1.46 billion (2022)[1]
Number of employees	5,400 (2023)[1]
Website	medpace.com

The company started trading stock as a public firm in 2016.

History

August Troendle founded Medpace in Cincinnati, Ohio, in 1992 as Medical Research Services.^[4] Troendle first became interested in the CRO sector after working in both the regulatory and pharmaceutical area. He began his career as a reviewer with the FDA, specializing in the development of lipid lowering therapies to treat high cholesterol.

With a team of industry physicians, Jonathan Issacsohn and Evan Stein completed many early studies while at Medpace and Medpace Reference Laboratories on the use of statin therapies for the treatment of hypercholesterolemia.^[5] Another Medpace physician, David Orloff was regarded as an industry opinion leader in the study of metabolic diseases – most specifically diabetes and obesity.^[6] Troendle was honored for his work as a Medpace founder in 2012 by the Cincinnati Chamber of Commerce.^[7]

Medpace completed construction on a new campus in 2012 in Madisonville, a neighborhood on the eastern side of Cincinnati.^[8] The project encompassed revitalizing an urban brownfield site formerly occupied by NuTone, and creating a state of the art LEED (Leadership in Energy and Environmental Design) certified campus.^[9]

In 2022, Medpace announced a $150 million capital investment to expand its headquarters in Cincinnati, Ohio, adding an estimated expansion of 1,500 new jobs.

Acquisitions

• 2007 – Medpace acquires Monax in the Czech Republic^[10]
• 2009 – Medpace acquires PharmaBrains AG in Switzerland
• 2010 – Medpace acquires Symbios, a medical device consultancy in Minneapolis, Minnesota^[11]
• 2010 – Medpace acquires Medical Consulting Dr. Schlichtiger, GmbH, in Germany^[12]
• 2012 – Medpace acquires MediTech BV, a medical device consultancy in the Netherlands.^[13]

Ownership

In 2011, CCMP Capital acquired 80% of the firm for US$285 million.^[14] Three years later, in February 2014, CCMP auctioned their 80% stake; the winner was won by Cinven, who paid US$900 million.^[4][14] In August 2017, Medpace went became a publicly-traded company with its initial public offering, selling 8,050,000 shares of common stock.^[4]

Further reading

• Watkins, Steve (29 June 2018). "Which Cincinnati public company CEO delivers the best bang for the buck? (Video)". Cincinnati Business Courier. American City Business Journals. Retrieved 31 Aug 2019. It's rare to see a CEO make less money than a CFO or an executive vice president. But that's how it worked last year at Medpace Holdings Inc....