Link Medical buys CRST to build Northern European CRO
Norway-based clinical contractor Link Medical AS has acquired Finnish counterpart CRST in a deal that adds first-in-human study capabilities to its business.
The acquisition includes CRST’s sites in Turku and Helsinki that provide services for Phase I, bioequivalence, bioavailability, and PK/PD studies. Link said the firm’s proximity to 50% of the Finnish population was a major driver for the deal.
According to Link, the acquisition will not impact customer relationships, partnerships, or personnel at CRST.
Link CEO Anders Göransson framed the takeover as a logical expansion, commenting that, “By adding CRST’s extensive portfolio of Phase I/First-in-human services we can now offer a complete range of services for our early-phase clients, and we can partner with our clients from Phase I, all the way through Phase III.”
Siru Helminen, CEO of previous CRST owner UTU Holding, said, “Joining forces with Link Medical gives us good opportunities to grow and expand our international CRO business together.”
Anne Marjamäki, chair of the board of CRST, added, “I am extremely happy with the opportunities offered by the transaction.
“The synergies of the professional teams of both companies give us a solid platform to build our future business. Together, we are able to provide bigger comprehensive projects to our customers and help them to speed up the development of new treatments.”
Oslo-based Link – which has operated since 1995 – has a presence in Norway, Sweden, Denmark, Finland, Germany, and the UK. CRST, which was also established in 1995, spun out from the University of Turku in 2014.
The acquisition is in keeping with the strategy of building a “strong Northern European CRO” Link outlined in 2022 shortly after Norway-based private equity investor Serendipity Partners acquired a 49% holding in the firm.
The deal also fits with comments Göransson made last month when he was appointed CEO.
“I look forward to collaborating with my new colleagues across all departments to continue building on Link’s strong reputation for delivering high-quality services to the life sciences industry. Together with the talented team, we will drive the company into its next chapter of growth and innovation,” he said.
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