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Medpace Holdings, Inc. is a global clinical research organization (CRO) based in Cincinnati, Ohio,[2][1][3] employing approximately 6,000 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.
The company started trading stock as a public firm in 2016.
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.
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]
Medpace Holdings, Inc. is headquartered in Cincinnati, Ohio, United States. The company’s main campus, known as the Medpace Campus, is located in the Madisonville neighborhood of Cincinnati and includes multiple office buildings, laboratories, and clinical facilities.[15]
In addition to its headquarters, Medpace operates regional offices and clinical sites across North America, Europe, Asia, and Latin America to support global clinical trial operations.[16]
Medpace Holdings, Inc. has demonstrated strong revenue and income growth since going public in 2016, maintaining a steady upward trajectory in operating and net income over the last several years.[17]
| Year | Revenue (USD billion) |
Gross Profit (USD billion) |
Net Income (USD billion) |
|---|---|---|---|
| 2013 | 0.27 | 0.12 | 0.02 |
| 2015 | 0.36 | 0.15 | -0.08 |
| 2017 | 0.43 | 0.17 | 0.04 |
| 2020 | 0.93 | 0.28 | 0.14 |
| 2021 | 1.14 | 0.33 | 0.18 |
| 2022 | 1.46 | 0.43 | 0.24 |
| 2023 | 1.89 | 0.52 | 0.28 |
| 2024 | 2.11 | 0.66 | 0.40 |
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....
The strong performance of mid-sized CROs was evident in the category for speed of site and investigator recruitment. Cincinnati, Ohio-based MedPace was the highest scoring CRO in survey responses for that category while large CROs such as Covance, Parexel, PPD, PRA International and Quintiles all received negative marks.
After the Aug. 16 transaction, Troendle directly owned more than 1.2 million shares of Medpace.
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