Strategic alliance: PSI CRO joins forces with Seoul’s Severance Hospital

PSI CRO has formed a strategic partnership with Severance Hospital in Seoul, joining the growing list of international contractors building in South Korea by teaming with medical centers.

The deal will see PSI manage clinical trials at the hospital. The organizations will collaborate on study feasibility assessments and patient recruitment. Financial terms were not disclosed.

Severance Hospital director Kang-Young Lee said, “Through the signing of the MOU with PSI CRO Korea, we can further strengthen the international research capabilities of Severance Hospital and expand the research portfolio of our trial center.”

In a press statement, PSI head of Asia-Pacific Barrie Koh said, “Together, we are not just signing an agreement, we are committing to a shared mission of advancing healthcare, transforming patient outcomes, and shaping the future of clinical research in Korea.” 

Partnerships

The partnership comes a few months after PSI expanded its operation in Korea and relocated to an office in the 123-story Lotte World Tower in Seoul.

By partnering with Severance Hospital, PSI is following the same strategy that has seen several of its peers expand in Korea in recent months.

In February, Australian CRO Novotech formed a clinical trial-focused partnership with the Wonju Severance Christian Hospital in Seoul. More recently, it signed a memorandum of understanding with the Kyungpook National University Hospital.

And, in November, Adelaide-based Avance Clinical signed deals with the CHA University Bundang Medical Center; the Korea University Medicine Center in Seoul; and the Dong-A University Hospital, Clinical Trial Center in Busan.

The partnership also fits with PSI CRO’s expansion in the wider region. In May last year, the firm established new offices in Shanghai, China, and Bangkok, Thailand. More recently, the Swiss CRO opened an office in Kazakhstan.

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