Transition Corporate Finance
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PCM TRIALS ACQUIRES CLINICAL TRIAL SERVICE
Amsterdam (12 January 2024) – PCM Trials, a US-based leader in providing mobile research nurses for decentralized clinical trials (DCTs), announced the acquisition of Netherlands-based Clinical Trial Service (CTS), with over 30 years’ experience in managing and staffing global clinical trials with mobile research nurses for DCTs. The combined company further strengthens its global footprint with its ability to reach over 80 countries to support pharmaceutical sponsors and contract research organizations (CROs) in conducting the most complex international clinical trials. Transition Corporate Finance (TCF) acted as exclusive M&A advisor to the Seller in the sale to PCM Trials. Legal sell-side support was provided by international law firm AKD with international law firm Osborne Clarke acting as buy-side legal advisor.
“CTS is a natural fit for us,” said Greg Austin, president of PCM Trials. “Their ability to understand an individual country’s market, culture, and regulatory requirements allows us to launch and complete trials on schedule. This innovative model is designed to support sponsors and CROs looking to conduct global DCTs and deliver better patient retention and increased patient diversity.”
The main driver for CRO M&A activity is the need for CROs to differentiate risk and change the scope of their business model to meet the demands of sponsors by accessing new therapeutic areas of expertise and technology improvements and obtain cost savings through enhanced scalability and geographical presence.
TCF represented: Seller
Transaction type: M&A
Countries involved: Netherlands, United States
Industry: Healthcare
Transitions: Decentralization, Digital transformation
Willem op de Hoek, Partner at TCF adds: “For CROs to keep a competitive market position, a strategic premium in target valuation is justified. In addition, buy-and-build models enable mid-sized CROs to become interesting targets for private equity creating an exit opportunity for their shareholders.”
Post transaction, Mirjam Bruggink (owner and founder of CTS) will remain with the company to ensure a smooth transition and will continue operations under the CTS brand serving its current and future customers. “This acquisition provided us with the ideal solution to grow our company and add financial strength to take us to the next level of service and innovation,”, said Mirjam Bruggink. “Also, big thank you to the entire TCF team. Sound professional support is absolutely essential in such complicated processes. TCF delivered an outstanding job.”
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