CRO market shift drives SynteractHCR growth as it moves to new facility

09-Oct-2017 - Last updated on 09-Oct-2017 at 16:14 GMT

(Image: SynteractHCR)

Related tags Contract research organization

SynteractHCR has moved to a new 38,000 square foot facility in Carlsbad, CA as it looks to fill the mid-market CRO void created by recent consolidation, says CEO.

Since it was founded in 1987, the contract research organization (CRO) has been headquartered in Carlsbad, CA – a “thriving biotech community,” which Steve Powell, SynteractHCR CEO, said has been good to the company.

“We have longstanding customer relationships, and so it made sense to maintain the headquarters there, while also continuing to expand our East Coast presence in Morrisville, NC and grow across our European facilities,” Powell told Outsourcing-Pharma.com.

Powell joined SynteractHCR in July of this year at which time he told us his goal was to ensure continued innovation. The company also added three senior executives to its management team in April.

The move the new facility also follows the company’s completed by the private equity firm Amulet Capital Partners, LP. Powell said the firm has been dedicated to growing the company’s business by improving service delivery.

“We see an immediate opportunity to fill the mid-market CRO ‘void’ given recent consolidation in the industry,” added Powell. “We remain true to developing customer relationships that are a match culturally while delivering per expectations, so this shift in the CRO market is one we see as a key growth driver.”