Chiltern to Acquire Theorem Clinical Research
UK-based global contract research organization (CRO) Chiltern has agreed to acquire Theorem Clinical Research, another CRO. Financial terms were not disclosed.
The merged operations will trade under the name Chiltern and employ 3,700 people in more than 45 companies.
Together, the two formerly separate companies currently said to be operating in complementary niches are planned to achieve global reach – both geographically and in areas of application.
The new Chiltern is expected to be especially strong in China and Japan, and the combination also is expected to broaden the constituent companies’ portfolio of services in the fields of medical devices and diagnostics, clinical analytics and clinical supply.
According to Chiltern CEO Jim Esinhart, the merger “is in direct response to client demand for a clinical research partner that can provide scientific and operating strengths globally, in a responsive and flexible way.”
Calling the acquisition by Chiltern “a mutually beneficial deal,” Theorem CEO John Potthoff said, “in key areas, our capability will dovetail into current Chiltern operations.”
Following antitrust approval, the transaction is due to be completed within the next several weeks.