Surge Private Equity has announced it has invested in Elite Clinical Network (ECN) in a transaction valued at around $200 million.

ECN, founded in 2003 and based in Las Vegas, is a network of pharmaceutical research sites throughout California, Arizona and Nevada.

Surge, based in Dallas, is lower middle market equity firm pursuing investments in healthcare and a few other industries. Founded in 2017, the firm seeks majority investments in businesses with between $3 million and $30 million of EBITDA.