Optimapharm acquires MKS Research: Goal to consolidate CRO market in CEE/SEE region, says CEO

11-Jan-2018 - Last updated on 11-Jan-2018 at 15:45 GMT

(Image: Getty/Erhoman)

Optimapharm has acquired MKS Research as it plans to double its revenue and become the largest independent contract research organization (CRO) in the Central and Eastern Europe (CEE) and South East Europe (SEE) regions.

The Croatian CRO Optimapharm has more than 10 offices in Europe and operates in several countries in both CEE and SEE.

The company’s acquisition of MKS Research expands its footprint to the Czech market and brings its total number of full-time employees to 120 and annual revenues to more than €12m ($14.5m).

Following the completed transaction, MKS Research will be fully integrated in Optimapharm’s standard operating procedures and will continue operating under the Optimapharm brand.

Consolidating the CRO market

Gordana Greguric Cicak, Optimapharm CEO, told us the acquisition is in line with the company’s medium-term strategic objectives. The company plans to double its revenues through add-on acquisitions as well as organic growth over the next three years.

“We will continue to look for good-quality acquisition targets. Our goal is to consolidate the CRO market in the CEE/SEE region and to become the largest independent CRO in the whole of CEE/SEE,” Cicak added, noting the CRO market’s continued growth.

“The value of the global CRO market has been growing over the last several years at annual rates of more than 10%. Industry growth in CEE/SEE region is expected at around 15% annually over the next few years,” he said.

“Here at Optimapharm, we experience those trends daily through the demands of our clients who are looking for partners that can provide them with as many services as possible, across as many as possible markets.”