Financial terms of the deal were not disclosed.
San Diego–based Sherpa is a provider of clinical trial material management services for clinical studies phases I through IV, with expertise in packaging, labeling, distribution, storage and returns and destruction services. Sherpa’s facilities utilize cold chain technologies that include handling products requiring labeling and kitting at frozen and refrigerated conditions.
PCI (Philadelphia) meanwhile offers molecule-to-market services that span the entire contract manufacturing spectrum. It has been actively acquiring companies and investing to expand its global clinical services business. The Sherpa buy is its third acquisition in 12 months.
“We are extremely excited for what Sherpa brings to the PCI business,” Salim Haffar, PCI’s CEO, said in a news release.
“We have experienced considerable growth in our clinical business, and over the past 12 months made a number of key acquisitions to further expand our presence in key geographies including Ireland, Australia, and now California, along the way adding exciting new capabilities,” Haffar said.
Mark Paiz, Sherpa’s president, said the deal will give Sherpa’s customers access to PCI’s expanded clinical packaging services, extensive manufacturing of clinical trial materials, and global reach.
Cantor Fitzgerald & Co. served as Sherpa’s financial advisor for the deal, with Snell & Wilmer providing legal counsel.