BOSTON and CHICAGO—Ora, a global ophthalmic contract research organization (CRO), has announced that it has been recapitalized by The Vistria Group, a middle-market private investment firm. With this investment, The Vistria Group said it will support Ora as a preferred clinical research partner of ophthalmic innovators. Ora is the seventh company in The Vistria Group’s pharma services portfolio, according to the announcement. “Ora is a leader in ophthalmic clinical research, and we are delighted to partner with the Ora team in the next chapter of its growth," said Natasha Latif, partner for health care at The Vistria Group.

"We invested in Ora because of its strong globally recognized brand, demonstrated innovation, service excellence, and tenured team of ophthalmology veterans, many who have worked together for decades, leading to an unparalleled record bringing over 85 drugs and devices to market. We are excited to build on Ora’s track record of success in partnering with customers and bringing new life-enhancing treatments to patients around the world,” Latif said.

Ora’s president, chairman and CEO, Stuart Abelson will transition to Ora’s board of directors, the company said, where he will focus on vision, strategy, customer relationships and organizational culture. Paul Colvin, who has served as Ora’s chief operating officer for the past year and a half and is a veteran CRO leader with over 30 years of experience, will become Ora’s CEO.

“The Vistria Group’s investment will allow us to continue scaling Ora’s global operations and implementing advanced technologies to support ophthalmology innovators in developing the next generation of products,” Abelson said. “With Paul Colvin as CEO, Ora is well positioned for its next phase of growth, leveraging his extensive experience in leading large CROs.”

Colvin added, “Our long-standing leadership team is fully engaged and excited about The Vistria Group’s investment. We remain committed to upholding the Ora experience that our clients have come to expect, ensuring continuity, innovation, and excellence as we embark on this new chapter together.”