Medpace boost EU device offering through Meditech takeover
Under the deal Meditech will join the contract research organisation’s (CRO) medical device division adding services in clinical operations, regulations and quality in the EU, Israel and Turkey.
Netherlands-based CRO Meditech will also add expertise in developing trial designs and regulatory strategies towards CE Marking in medical devices and implants, as well as quality management services specific to International Organization for Standardardization (ISO).
More deals to come?
For Medpace – which also works in clinical development, testing and imaging for drugs and biologics – this is the second purchase in the device arena in the past two years after its takeover of Symbios.
It also follows a recent private equity investment from CCMP under which the group paid around $600m (€428m) for 80 per cent of the privately-owned Cincinnati, Ohio’s shares.
At the time Medpace CEO August Troendle said: “The transaction will provide resources to make the strategic long-term investments that are needed to advance our leadership position, grow the core the business and expand our global reach.”
Of the reason for the recent expansion in the device area particularly, Troendle said the deal supports growth plans in general.
He said: "MediTech's expertise complements and broadens our global medical device service offering.
“MediTech is well respected in both Europe and the US and this strategic acquisition fully supports Medpace's growth and provides our sponsors a wide range of regulatory and clinical expertise across North America and Europe along with expanded operational capacity."
When Outsourcing-Pharma.com contacted Miditech president and CEO Carla Kikken-Jussen, she refused to comment.
Neither firm revealed whether any restructuring would take place, however a press statement did say: “Ms. Kikken-Jussen will continue to lead MediTech with her team members.”
