Clinimark Acquired by Element

Element Materials Technologies has announced its acquisition of Clinimark, an independent laboratory that performs clinical testing and FDA regulatory validation for vital sign data for both medical devices and consumer wearables. Clinimark is based in Louisville, CO, on the grounds of Avista Adventist Hospital.

In 2004 Paul Batchedler and Dena Raley, colleagues at a large health care company, pooled a few thousand dollars and started Clinimark. From a small initial laboratory, they continued to refine their process and approach, eventually building the business into a leading expert in pulse oximetry and both invasive and non-invasive blood pressure. Over almost two decades, Clinimark’s reputation grew, as it provided product development, testing, and validation services to clients across the globe — from multinational corporations to venture-backed startups.

As their business expanded, Clinimark realized they needed a partner with additional resources and infrastructure to help them manage their rapid growth. ClearCreek is grateful to have worked with Paul and Dena to help identify their options and to guide them through the transaction. Their ability to seamlessly shift from clinical lab work to business discussions was unparalleled, but to do so with continued patience and good humor was remarkable — even during the umpteenth time of explaining scientific testing terms to a Zoom call of bankers and attorneys. We also recognize Element, who were flexible and supportive partners during the entire process and are a superlative match to help further Clinimark’s growth.