Synexus starts up in South Africa
movements with the latest acquisition of South African outfit
Clinical Research Centers (CRC).
The firm said it plans to buy the Site Management Organisation (SMO), which specialises in the same area as Synexus - patient recruitment for late-stage clinical trials - for an amount between £810,000 and £980,000.
Addclin carries out bioequivalence and pharmacokinetic studies for South African and international generics companies and Synexis said that this part of the acquisition "is exciting as it is not only provides a link with a large multinational healthcare company but is also a low risk entry into the early stage market."
In addition, this is the firm's first foray into the Southern Hemisphere and "represents a further opportunity for the company to exploit the growing clinical trials and patient recruitment markets in emerging economies."
The purchase is also another step in Synexus' stated strategy is to build a multi-country operation - a strategy that is has been pursuing enthusiastically since joining AIM in November 2005.
In June the company bagged Hungarian company, Diagnostic Units Hungary (DUH), and bought Polish clinical trials company Skandynawskie Centrum Medyczne (SCM) in January in a bid to exploit the growing clinical trial opportunities in the emerging Eastern European market.
