Private Equity Firm THL Partners Acquires Clinical Trial Site Network Headlands Research

THL Partners Expands Healthcare Portfolio with Strategic Acquisition

In a significant move within the clinical research industry, private equity firm THL Partners has entered into an agreement to acquire Headlands Research, a prominent clinical trial site network, from its founding firm KKR. The transaction, announced on August 14, 2025, is expected to be finalized by the end of the year, marking a new chapter for Headlands Research and further solidifying THL Partners' presence in the healthcare sector.

Headlands Research: A History of Growth and Expansion

Headlands Research, launched by KKR in 2018, has established itself as a key player in the clinical trial landscape through a series of strategic acquisitions and expansions. The company has consistently focused on broadening its site network, with recent additions in Puerto Rico, Baltimore, and El Paso. Notably, Headlands has also spearheaded a clinical trial diversity project in collaboration with pharmaceutical giant Pfizer, strategically placing sites in locations like Orlando, Florida, to serve historically underrepresented populations.

THL Partners' Vision for Headlands Research

THL Partners has expressed its commitment to continuing Headlands Research's expansion trajectory. Megan Preiner, managing director at THL, emphasized the critical role of innovative companies like Headlands in advancing clinical trials, stating, "Given the accelerated pace of research and development, innovative companies such as Headlands are critical to advancing clinical trials with precision, scale and flexibility."

The private equity firm plans to invest in Headlands' technology and infrastructure, potentially accelerating the company's growth and enhancing its capabilities in the clinical trial space. This acquisition aligns with THL's broader investment strategy in the healthcare sector, which includes stakes in companies such as Fisher Scientific, PCI Pharma Services, Syneos Health, CSafe, Adare Pharma Solutions, and Red Nucleus.

While financial details of the transaction remain undisclosed, the acquisition represents a significant development in the clinical research organization (CRO) landscape, potentially influencing the broader pharmaceutical and biotechnology industries' approach to clinical trials and site management.