Morrisville, NC — 16-April-2024 — PharmAlliance, a diversified pharmaceutical and life sciences services platform, is pleased to announce the acquisition of Complete Health Economics Outcomes Research Solutions—CHEORS—a leading provider of health economics and outcomes research (HEOR) and market access services across the pharmaceutical, biotechnology, and medical device industries. With this addition, PharmAlliance strengthens its global reach and expands its launch and commercialization capabilities.

CHEORS marks the third strategic acquisition for PharmAlliance, a portfolio company of Waud Capital Partners. PharmAlliance acquired its first asset, BioBridges, a leading provider of clinical development services to emerging and established pharmaceutical, biotechnology, and medical device companies in August 2023. The platform then acquired Monitorforhire (MFH), now a division of BioBridges, in late 2023 to introduce a specialized service line benefitting both clients and its international network of over 4,000 clinical research professionals.

“CHEORS’ excellent reputation and unique approach is an important next step in the expansion of the PharmAlliance portfolio,” said Mark Bouck, Chairman & CEO of PharmAlliance and BioBridges. “Their global capabilities, client base, and exceptional HEOR/RWE services illustrate our commitment to providing our drug and device development clients with the end-to-end solutions they need.”

CHEORS specializes in economic modeling, health technology assessment (HTA) submissions, evidence synthesis—including literature reviews and network meta-analyses (NMAs)—and real-world evidence (RWE) analysis. These core functions address one of the fastest-growing needs in the drug development lifecycle, supporting HEOR activities from early stages to reimbursement through lifecycle management. Renowned for exceptional customer satisfaction and technical expertise, CHEORS brings a track record of strong organic growth in the HEOR and RWE areas.

"From the outset, the synergies between CHEORS and PharmAlliance have been very attractive. Our shared values and combined expertise across the biotech and pharma sectors diversify and strengthen our service offerings and customer base, positioning us to make a significant impact," said Shalini Bagga, PhD, President of CHEORS. "Together, we offer a broader range of high-quality services, ultimately accelerating the delivery of life-changing treatments to patients."

About PharmAlliance

A pharmaceutical and life sciences services platform designed to serve a variety of discovery, development, and commercialization needs across the drug and device development lifecycle through diverse and disruptive end-to-end solutions. Since its formation, PharmAlliance has completed three strategic acquisitions consisting of BioBridges, a provider of clinical development services, Monitorforhire, a web-enabled resource management company providing access to a database of screened, qualified, and available independent clinical trial monitors, and CHEORS, a leading provider of health economics and outcomes research (HEOR) and market access services.

About BioBridges

BioBridges is a leading provider of drug, biologic, and device consulting services spanning development through commercialization. A trusted advisor to clients and consultants with a flexible delivery model, BioBridges provides scarce resources on a fractional basis that creates a “win-win” for both clients and consultants.


Complete Health Economics Outcomes Research Solutions (CHEORS) is a leading provider of global HEOR and market access services for the pharmaceutical, biotech, and medical device industry. CHEORS provides evidence-based solutions to generate a greater understanding of the clinical and economic value of products for payers, regulators, and prescribers.

About Waud Capital Partners

Based in Chicago, Waud Capital Partners (“WCP”) is a growth-oriented private equity firm with over 30 years of investing experience. WCP seeks to partner with experienced management teams to build market-leading companies within two industries: healthcare and software & technology. Since its founding in 1993, WCP has successfully completed more than 460 investments, including platform companies and follow-on opportunities. For additional information on Waud Capital, please visit

Jennifer Thayer
SVP, Operations and Communications, PharmAlliance
[email protected]

Source: PharmAlliance