Accelovance Acquires CRO Division of Radiant Research to Expand Reach
Accelovance built a reputation in vaccine research, expanded to oncology, and Radiant fits in well as they have worked in both of those areas, in addition to general health and nutrition, Stephen Trevisan, Accelovance President and CEO, told Outsourcing-Pharma.com. He noted there is only one redundant client among the two companies.
Radiant also has teams devoted to pharmacovigilance, safety and medical writing, which are areas where Accelovance had to outsource their work prior to the acquisition, Trevisan said. Radiant will operate as a division of Accelovance, also providing full service clinical capabilities in project management and clinical monitoring, medical, safety, regulatory consulting, data management and statistical services.
“Strategically it aligns with how we want to grow,” he added, noting Radiant’s locations in Stuart, Florida, Chicago, Illinois, and Durham, North Carolina. Radiant also has “some ties in India,” which is another market that Accelovance can add to its wholly-owned subsidiary providing CRO services in China, Trevisan said. Accelovance owns five other research-dedicated clinical sites.
Radiant’s work in Eastern Europe and Russia could also expand Accelovance’s reach, he added, though he noted that the company’s core business is in the US.
“We’re not looking to compete with companies that have 70 offices around the world,” he said. Accelovance caters to biotech and small- and mid-sized pharma sponsors. But there is “talent to leverage” in the international space, Trevisan said.
“We see eastern Europe, China and India as key markets,” and this acquisition provides the company with access to that broader space, he continued.
As far as moving forward, Trevisan said the acquisition of Radian will be “a building block for future acquisitions.” Terms of the acquisition were not disclosed.
