Diamond Pharma Services—a technical services and regulatory consulting company headquartered in the UK—has purchased Dublin-based PharmaCentral, a pharmacovigilance services and medical affairs firm.
According to the company, PharmaCentral provides a broad range of pharmacovigilance consultancy services, building on its experience in pharmacovigilance and medical affairs in both pharma and CRO environments. Acquiring PharmaCentral is in line with Diamond’s growth strategy for its pharmacovigilance, which reportedly has attained a compound annual growth rate of 27% over the last three years.
Additionally, the acquisition is intended to help expand Diamond’s pharmacovigilance senior level team, in order to support regulatory affairs clients in specialized areas, such as gene and cell therapies.
Diamond Pharma Services provides regulatory affairs, pharmacovigilance, and compliance and quality services for pharma and biotech companies throughout all stages of a product life cycle. The company plans to continue expanding its presence in Dublin via recruiting new staff across all of its divisions.
According to David Boyd, managing director for Diamond PV Services Ltd, the company’s growth in recent years has motivated leadership to evaluate its resources, including knowledge, processes and systems.
“This acquisition will help support the next phase of growth, representing a step change in our senior team. Having worked closely with PharmaCentral over the past year I am confident that they share our culture of flexibility, quality and accessibility, and am hugely excited that they are joining Diamond to deliver our shared vision of helping our clients manage their regulatory responsibilities in a constantly evolving environment,” he said.
PharmaCentral co-founder Catherine Kenny commented, “The cultural fit we have found between the two businesses, and our shared views on the growth areas within pharmacovigilance have created synergistic opportunities for both companies.”
“PharmaCentral has spent a number of years building strong customer relationships and a reputation for quality; together we will capitalise on those strengths to significantly increase our capabilities and service offerings,” Kenny added.