September 15, 2021
New York, NY – Kinderhook Industries, LLC (“Kinderhook”) announced today the sale of StudyKIK (“StudyKIK” or the “Company”) to Syneos Health (NYSE: SYNH). Financial terms of the transaction were not disclosed.
Launched in 2014 as a global network of patient-focused communities, StudyKIK and its technology platform have demonstrated improved quality and accelerated enrollment timelines in certain clinical trials by up to 94% and reduced enrollment start-up times by up to 75%. In addition, StudyKIK provides eConsent, telemedicine video calling, phone pre-qualifications, and patient retention application solutions. The company manages over 1,000 indication-specific patient community groups and has enrolled more than 5,400 protocols supporting over 3,800 research sites across the globe. The platform encompasses more than 6 million patients through social media, speeding access to patients who traditionally would not have participated in clinical trials.
“StudyKIK was built to serve as a disruptive solution to the status quo in the patient recruitment industry and accelerate the clinical trial process to get new treatments to people as fast and as safely as possible,” said Matt Miller, Chief Executive Officer of StudyKIK. “We are thrilled by this outcome and are excited to continue fulfilling our mission as part of the Syneos family. We are also grateful for Kinderhook’s partnership over the past few years. Kinderhook has provided us with both the financial support and strategic guidance that have been instrumental in accelerating our growth and enabling our success.”
Chris Michalik, Managing Director at Kinderhook, stated, “This is a great outcome for Kinderhook, StudyKIK and its employees. We are very proud of the accomplishments of the StudyKIK team, led by Matt Miller, and we expect the Company to continue to flourish as part of Syneos.”
“We are thankful to have had the opportunity to partner with Matt Miller and work with the amazing team at StudyKIK”, said Michael Zoch, Managing Director of Kinderhook. “Kinderhook’s investment in StudyKIK highlights the key tenets of Kinderhook’s investment strategy – partnering with world class management teams to grow businesses in niche markets.”
Kirkland & Ellis served as legal counsel to StudyKIK and Latham & Watkins provided legal counsel to Syneos in the transaction.