eResearchTechnology Inc. (ERT), a data and technology company based in Philadelphia that aims to minimize risk and uncertainty in clinical trials, has received an investment by European PE firm Astorg, which will enter as a partner alongside existing owners Nordic Capital, Novo Holdings A/S, and the ERT management team. The amount of the investment was not disclosed.

Building on ERT’s leading technology platform and reputation for operational excellence, the new broadened ownership group, together with management, will invest in the continued development of the business with the aim of further expanding operational capabilities and selectively pursuing add-on investments to support future growth.

Following Nordic Capital and Novo’s investment in 2016, ERT has grown significantly, having doubled revenue through a focus on operations, as well as strategic add-on acquisitions to expand capabilities.

Following Nordic Capital’s initial investment in ERT through Fund VIII, Nordic Capital will re-invest alongside Astorg and Novo through Fund IX.