Medpace buys device testing firm Symbios

- Last updated on GMT

Related tags: Contract research organization

US CRO Medpace has move into medical device trials with acquisition of Symbios Clinical in a bid to tap into what CEO August Troendle said was a growth area for the contract research sector.

The deal, terms of which were not disclosed, bolsters Medpace’s existing Phase I-IV trial management, laboratory and analytical contract research and consultation services.

Troendle explained that device trial expertise will benefit existing customers and allow Medpace to attract new sponsors and added that, in turn, Symbios will benefit from his firm’s global reach.

Expansion has been a key part of Medpace’s strategy this year, beginning in January​ when it bought Germany-based medical consulting group Dr Schlichtiger to strengthen its presence in Europe.

And, closer to home, Medpace has also started work on a new 132,000 sq ft headquarters in Madisonville, Ohio near Cincinnati, which it said will create 760 new jobs when fully operational in 2014.

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