Chiltern, a contract research organization (CRO), announced it has signed a purchase agreement to acquire Theorem Clinical Research, another CRO.
Chiltern, a contract research organization (CRO), announced it has signed a purchase agreement to acquire Theorem Clinical Research, another CRO.
“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,” said Dr. Jim Esinhart, Chiltern CEO. “This transaction will bring together more than 3,700 people in more than 45 countries dedicated to the philosophy of ‘Designed Around You.’”
The combined company will operate under the name Chiltern and will gain global reach—most notably in China and Japan—as well as new service offerings for medical devices and diagnostics, clinical analytics and clinical supplies.
“Chiltern and Theorem have carved out complementary niches, even across key geographies,” said Dr. John Potthoff, president and CEO of Theorem. “In key areas, our capabilities will dovetail into current Chiltern operations; this is a mutually beneficial deal.”
The planned transaction between the two organizations is subject to customary regulatory and closing conditions. Both companies will follow antitrust guidelines and continue to function as separate and independent entities until the acquisition is approved. The transaction is expected to close within the next several weeks.
Chiltern
www.chiltern.com
Theorem Clinical Research
www.theoremclinical.com
