Labquality buys Scandinavia CRO to expand in regional market
Labquality has acquired Sweden-based Scandinavian CRO (SCRO), citing its presence in the regional market and roster of small- and mid-sized pharma customers as motivation.
The Finnish contract services firm said the deal aligns with its growth strategy and will help it grow in Sweden and enter new regional markets, including Norway and Denmark.
Labquality CEO Juha-Pekka Nuutinen said, “Scandinavian CRO is a great addition to our Labquality family completing our CRO business platform. Now, we are a full service CRO company, and we can continue our geographical expansion and growth.
“I am very pleased that together with SCRO we share the same passion for quality as we both strive for quality excellence,” Nuutinen continued.
He also said SCRO CEO, Ulrika Hammarström, will “contribute to Labquality with her vast and solid leadership experience and knowledge of the CRO business.”
Labquality noted that the acquisition would not impact current customer relationships, partnerships, or personnel of SCRO.
M&A strategy
The acquisition is part of a plan investment firm Mérieux Equity Partners outlined when it bought Labquality in November 2023.
At the time Mérieux Equity Partners managing director, Theodor Wuppermann, said: “We have been very impressed by Labquality’s management team, its outstanding reputation, the high quality of its services, and impressive growth trajectory. We look forward to supporting Labquality in its future development to help achieve its growth objectives.”
Buying Scandinavian CRO also fits with the strategy that saw Labquality buy digital software and regulatory services firm Kasve last year and regulatory consulting group Lean Entries in 2021.
In addition to its presence in Scandinavia, SCRO also works with other CROs across Europe. In 2022, for example, it partnered with Cardialysis, a cardiology-focused trial services firm based in the Netherlands.
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