Clinchoice Acquires Cromsource, Expanding Its Global Presence

Mar 01, 2023•over 2 years ago

Acquiring Company

ClinChoice

Acquired Company

CROMSOURCE

Fort WashingtonPharmaceutical ManufacturingHealth Care

Description

ClinChoice Medical Development is pleased to announce its acquisition of CROMSOURCE S.r.l., an ISO-certified full-service contract research organization with its corporate headquarters in Verona, Italy and its US headquarters in Cary, NC. CROMSOURCE has operational subsidiaries in the US and seven countries throughout Western and Eastern Europe, along with field-based staff across various locations in Europe and across the US.

Company Information

Company

ClinChoice

Location

Virginia Drive

Fort Washington, Pennsylvania, United States

About

ClinChoice is a full-service global clinical CRO dedicated to offering high-quality, efficient and flexible solutions to pharmaceutical, biotechnology, medical device, and consumer products clients worldwide. With a 25 year history of success, ClinChoice continues to be The Standard of Excellence for biostatistics, clinical operations, data management, statistical programming, CDISC, regulatory affairs, medical affairs and pharmacovigilance. ClinChoice has established major delivery centers across US, China, Europe, Canada, India, Japan and the Philippines. It has over 4,000 employees globally, with a strong and talented team, and a growing clinical operations presence in seven countries across Asia, North America and Europe.

M&A Insights

Based on deal data

Integration timeline

70% of M&A integrations take 12-24 months to complete

Tech stack consolidation

83% of merged companies consolidate technology vendors within first year

Post-acquisition investment

Companies increase IT spending by 23% on average after acquisitions

Success factor

M&A deals with strong technology integration plans are 2.5x more likely to succeed