Building on its existing ops in India, Australia, Singapore and Taiwan, the acquisition adds new capabilities and a larger footprint for Chiltern in Hong Kong, Korea, Malaysia, Philippines and Thailand. The decision to move into the APAC region began in 2010, with the company adding its Australia and Singapore offices.
Chiltern also seems to be on a buying spree as this is the second CRO acquisition in the last three months, with company previously purchasing oncology specialist Ockham back in July. That acquisition occurred as the company saw its ownership consolidate, with private equity firm Kester Capital selling its share of Chiltern. That sale also revealed that the company is worth about $221m.
“Chiltern’s acquisition of Pacific Clinical Research is founded on growth and development for both companies and, as Chiltern’s second major acquisition of the year, represents a continuation of our strategic plan to expand client offerings with added geographic capabilities throughout all of Asia-Pacific,” Nicholas Spittal, senior director of global commercial affairs, told Outsourcing-Pharma.com.
Expansion of trials in Asia
Spittal added that the company has considered growing capabilities in APAC “for some time” as there is “great interest across the industry to place more clinical trials in APAC. Chiltern is engaged with several Pharma and Biotech sponsors that view this is a critical region for patient recruitment, particularly in oncology and anti-infective/ vaccine studies where we are already specialized. This acquisition is a natural step in our progression as a truly global player, and we expect it will lead quickly to new business opportunities.”
Pacific Clinical Research founders Robert Teoh and Vonny Iskandar will join the Chiltern management team as Managing Director, Asia-Pacific and VP, Asia-Pacific respectively.
Spittal added that there are “no anticipated layoffs” under the new company, which now has 85 employees in APAC and 2,200 worldwide. “This transaction is based purely on growth and expanded service offerings,” Spittal said.
Chiltern CEO Dr James Esinhart and COO Aize Smink said in a joint statement: “We have worked with Robert Teoh for many years and our two organisations have always collaborated well. We have been looking for some time to strengthen Chiltern’s direct presence in the Asia-Pacific region, so we jumped at the opportunity to acquire Pacific and bring Robert and his team into Chiltern.”
Teoh added: “Pacific Clinical Research has seen strong growth over four years and it was time for the business to integrate into a larger platform. I am excited to be leading Chiltern in the Asia-Pacific region and to be participating globally in specialized studies.”