MBBP client BBK Worldwide recently named four additional principals who, together, will assume a minority ownership in the company. Matthew Kibby, Rob Laurens, Liz Ritchie, and Matthew Stumm have played key roles in shaping the company’s success as the global leader in patient recruitment for the clinical R&D segment of the pharma, biotech, and medical device industries. Celebrating 30 years, BBK remains one of the only independent and self-funded patient recruitment agencies, and is able to offer its global pharmaceutical and medical device clients levels of flexibility and creative innovation unmatched by its competitors.
CW Weekly, a leading newsletter for the clinical trials industry, recently published an article on BBK Worldwide’s structure change. MBBP Corporate Attorney Carl Barnes was interviewed by CenterWatch Weekly and had this to say in regards to the restructuring:
This is a mindset alternative, as opposed to an alternative to financing. Privately held businesses have a couple of choices to continue growing past what their original founders have done—to get acquired, to go public, to cash out and bring in new management—or they do what BBK did, and they look within. They ask: who is here and really contributing to the business and how do we reward them? With an ownership stake in the business, the new principals become even more motivated to take the company to the next level. It’s a way to keep them excited and interested, and that helps the company grow.
Morse, Barnes-Brown & Pendleton served as counsel to BBK Worldwide and advised it in the development of its new corporate structure.
Congratulations BBK Worldwide!
Visit BBK to read the full press release.