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Medpace Holdings
Medpace started as a solo regulatory and medical writing consultancy founded by Dr.
Medpace Holdings
Medpace started as a solo regulatory and medical writing consultancy founded by Dr. August Troendle in 1992, after his tenure as a medical reviewer at the FDA. The firm transitioned into a full-service clinical research organization (CRO) in the early 2000s, eventually going public in 2016. Troendle retains majority voting control, insulating the company from activist pressures that have reshaped rivals. The wealth generated flows from a fee-for-service model built on repeat engagements with emerging biotech sponsors. The firm runs a therapeutically specialized operating model covering oncology, cardiovascular, metabolic disease, neuroscience, and infectious diseases. It avoids the large-pharma megadeals that dominate the backlog of the top-tier CROs, instead structuring its clinical operations around full-time physician investigators and centralized project management. Medpace has managed pivotal trials that supported regulatory approvals for Acadia Pharmaceuticals and Amicus Therapeutics. Its geographic footprint spans over 40 countries, with major operational hubs in Dallas, London, Melbourne, and Beijing, supporting Phase I-IV studies across North America, Europe, and Asia-Pacific. Headcount exceeded 5,900 as of its latest annual filing, with clinical research associates concentrated in the U.S. and Western Europe. Medpace operates a self-contained central laboratory in Cincinnati and a dedicated imaging core lab, reducing dependency on third-party vendors. In February 2025, the company reported full-year 2024 revenue of $1.91 billion, a 14% increase driven by oncology and metabolic disease awards (per the firm, 2025). It maintains no external private equity sponsorship, and Troendle's philanthropic activity remains undisclosed in public filings. Medpace's structural distinction is its refusal to diversify into the large-pharma segment, which CEO Troendle has publicly labeled as a low-growth, margin-dilutive race to the bottom among CROs. Instead, it binds its fate to the biotech funding cycle and absorbs that volatility by maintaining a debt-light balance sheet and rejecting the M&A roll-up strategy other mid-cap CROs have pursued. This narrow focus makes it one of the last scaled, independent competitors to the IQVIA-PPD-LABCORP oligopoly.
General information
Firm type
Asset Manager
Year founded
1992
AUM
Undisclosed. Revenue of $1.91B in 2024 (per the firm, 2025).
Location
Region
North America
Country
United States
City
Cincinnati
Corporate office
Cincinnati, OH, United States
Additional offices
Dallas · Denver · Chicago · Minneapolis · London · Melbourne · Beijing · Mumbai · Seoul · Mexico City
Principals
August Troendle
Founder, Chairman & CEO
Sector focus
Frequently asked questions
Who controls Medpace and what is Dr. Troendle's role?
Dr. August Troendle is the founder, chairman, and CEO. Through dual-class share structures, he holds majority voting control of the company, giving him effective final say on strategic decisions. He has led the firm since its founding in 1992 and remains the chief architect of its biotech-only strategy.
How does Medpace's business model differ from IQVIA or ICON?
Medpace exclusively targets small and midsize biotech companies rather than large pharmaceutical firms. Its model relies on full-time physician oversight rather than contract investigators, and it runs a centralized project management structure intended to keep trial timelines predictable. The company explicitly avoids the large-pharma segment, which Troendle has criticized as a low-margin, commoditized business for the largest CROs.
Does Medpace own any labs or imaging facilities?
Yes. The company operates a central laboratory in Cincinnati and a dedicated imaging core lab. These are internal assets, not outsourced functions, which allows the firm to bundle laboratory and imaging services with its clinical trial management for sponsor clients.
What therapeutic areas does Medpace cover?
Medpace organizes its clinical operations around therapeutic specialties including oncology, cardiovascular disease, metabolic disorders, neuroscience, and infectious diseases. The firm assigns physician-level medical directors within each area to provide scientific oversight, which it argues differentiates its trial design and execution from competitors relying on rotating contractor staff.
Has Medpace ever been taken private or owned by private equity?
No. Medpace has never undergone a private equity buyout. It remained privately held under Dr. Troendle's control until its IPO in August 2016 and has since stayed independent. This sets it apart from many mid-cap CROs that have cycled through multiple PE sponsors before being sold to larger platforms.
Where does Medpace conduct clinical trials geographically?
Medpace runs trials in more than 40 countries. Its core operational footprint includes the United States, Western Europe, and Asia-Pacific, with key offices in Dallas, London, Melbourne, and Beijing. This allows it to offer sponsors global enrollment capabilities while centralizing project management from its Cincinnati headquarters.
How exposed is Medpace to biotech funding cycles?
The firm's revenue is tightly coupled to the capital-raising environment for emerging biotech companies, which are its primary clients. Medpace acknowledges this concentration as a deliberate strategic choice and historically has managed through funding downturns by maintaining a debt-light balance sheet and avoiding fixed-cost commitments tied to large-pharma volume guarantees.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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