Optimapharm buys Qualitis to build in Southern Europe
Croatian clinical trial services provider Optimapharm has continued its growth strategy and acquired Greek counterpart Qualitis in a move designed to expand its geographic reach.
The Zagreb-headquartered contract services firm announced the purchase this week, explaining it both solidifies its position in the mid-sized study services market and builds its present in a growing regional trial hub.
Qualitis is headquarted in Athens, Greece it offers a portfolio of clinical development and medical consulting services to the pharmaceutical, biotechnology and medical device industries.
Optimapharm CEO Ivana Waller said, “We are pleased to welcome Qualitis to the Optimapharm organization, and we are very proud of the growth that the Optimapharm team has achieved in recent months.
“We are expanding our operational capabilities and our geographic footprint in Southern Europe with a focus on Greece. The Qualitis organization is an excellent complement to Optimapharm.”
Optimapharm was set up in 2006 and has a network of office across Europe and operations in 14 other countries. The firm provides Phase I to IV study services across a range therapeutic areas with a specific focus on oncology, neurosciences, cardiology, endocrinology, and infectious diseases.
Growth through M&A
The deal continues a string of acquisitions made by Optimapharm. In the past 12 months it has bought CTG (Clinical Trials Group) in Romania, SSS International Clinical Research in Germany as well as Finland’s Crown CRO.
And, in 2020, Optimapharm acquired Syntax for Science.
Optimapharm is backed by the Rohatyn Group (TRG), an asset management firm focused on emerging markets which invested in the Croatian CRO in 2020.
The acquisitions are in keeping with the plan TRG CEO Nick Rohatyn outlined at the time, when he said
“Optimapharm is a high-growth, pan-regional business that fits perfectly with the rest of TRG’s portfolio.
“We believe strongly that the company has the potential to be a leading player in the European CRO space thanks to its strong brand and dedication to high-quality service for its blue-chip clients around the world.”
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