CRO consolidation: Chiltern to acquire Theorem Clinical Research
Financial terms of the acquisition were not revealed but the transaction will bring together more than 3,700 employees in more than 45 countries. The combined company will operate as Chiltern and will gain global reach — particularly in China and Japan — as well as new service offerings for medical devices and diagnostics, clinical analytics and clinical supplies.
Jim Esinhart, CEO of Chiltern told Outsourcing-Pharma.com that Theorem’s clinical analytics capabilities “will complement Chiltern’s already robust biometrics offerings. Theorem’s excellence in medical device and diagnostics trials will also expand Chiltern’s opportunities in those domains, as well as in combination product trials that demand the execution of highly complex research worldwide. Theorem also brings strengths in central nervous system and metabolic/endocrinology trials.”
The deal comes as UK-based Chiltern has expanded through acquisitions twice in the past year, with the acquisitions of full-service CRO Ockham and Singapore-based Pacific Clinical Research. Theorem, meanwhile, has forged deals with Charles River Laboratories, Excel Life Sciences and BioTelemetry over the past few years to strengthen its service offerings. The transactions should help Chiltern compete with some of its larger peers.
“Chiltern and Theorem have carved out complementary niches, even across key geographies,” said John Potthoff, Theorem president and CEO.
“This is a direct response to client demand for a clinical research partner that can provide scientific and operating strengths globally, in a responsive and flexible way,” added Esinhart.
The transaction is expected to close within the next several weeks.