CRO Clinipace expands Euro footprint with acquisition of Accovion
For more than 10 years Accovion has conducted clinical trials across all phases of development in more than 20 countries. The combination of Clinipace and Accovion, which has about 260 employees, will add to both of their operational and therapeutic expertise in Europe. The purchase also expands Clinipace’s footprint into Russia, Italy, Czech Republic, Romania, Poland, Spain, France and Ukraine.
Clinipace CEO Jeff Williams told Outsourcing-Pharma.com that this is his company’s 6th acquisition in recent years and it will substantially improve the company’s relationships with European clients. Therapeutically, Accovion’s strengths are in oncology and cardiovascular disease, Williams added, noting that there’s a complimentary overlap in the types of studies run and their clients, though the deal provides Clinipace with European-based management and new biostaticians and programming help.
The nearly 140 Clinipace employees in Europe will be integrated with the Accovion staff, and no layoffs are expected, Williams said.
Dr. Andree Beckerling, the CEO of Accovion, will have day-to-day operating responsibility for all of the European offices, including existing Clinipace staff and locations. Beckerling will also join the company’s Executive Committee.
Beckerling added: “Clinipace provides the right combination of complementary operational strengths, services and geography. Accovion clients gain access to Clinipace’s dCRO delivery model supported by their proprietary TEMPO eClinical platform and a comprehensive and integrated clinical operations, data management, biostatistics and regulatory consultancy with a large worldwide footprint.”
Historically, Accovion started as a data management shop and formed its core around this base, and then expanded into clinical and regulatory in the last five years, Williams added.
Combined with Accovion, Clinipace now has clinical operations and staff in 39 countries. European operations are based in Frankfurt, Munich and Marburg, Germany; Prague, Czech Republic; Krakow, Poland; Timisoara, Romania; Moscow, Russia; Zurich, Switzerland; Milan, Italy; Lyon, France; Madrid, Spain; London, United Kingdom; and Kiev, Ukraine.
And Williams told us that there are still some geographies he’d like to see Clinipace expand into further, which the company will “build out organically but we’re not looking at additional acquisitions for geographic expansion,” though the company “will look at acquisitions to bring in new client relationships.”
Financial details of the deal were not disclosed. The acquisition comes three months after Clinipace announced the closure of a $50m round of financing and more than 300% growth.
