UK CRO Ergomed buys out competing Pharmacovigilance firm in Prague for £6.8m
Headquarterd in Surrey, UK, Ergomed operates as a profitable CRO which has been making acquisitions in order to expand its drug development pipeline.
PharmInvent is a Prague-based firm which has been offering outsourced pharmacovigilance services to SMEs within the industry for the past six years.
These services include signal, data and case management, from audits to help with e-submissions to regulatory authorities, with a team of experts from ex-regulatory agency background.
The acquisition will complement Ergomed’s subsidiary PrimeVigilance, also based in Guildford, Surrey.
Hybrid model
Miroslav Reljanovic, Ergomed CEO, previously said the “hybrid CRO/SMO business model” of the firm moves forward through “bolt on acquisitions and growth opportunities in [its] services business,” while “progressing a co-development pipeline.”
Under the new deal, Ergomed will acquire 100% of PharmInvent for an initial €4.8m ($5.15m), with a further €3.2m ($3.3m) if EBITDA targets are met over the next 3 years.
