Syneos buys StudyKIK in latest move to grow decentralized trials business
Syneos Health has acquired clinical trial recruitment firm StudyKIK, citing its recruitment and retention technologies as the driver.
StudyKIK was set up in 2014 as a network of “patient-focused communities” – a list of qualified patients across multiple therapeutic areas.
The firm has also developed search technologies to help connect potential participants with studies and trial sponsors.
The firm claims to manage over 1,000 indication-specific patient groups and says it has enrolled more than 5,400 protocols supporting over 3,800 research sites across the globe.
A Syneos spokesman told Clinical Insider “StudyKIK brings transformative and differentiated technology-enabled, insights-driven capabilities, helping us to further deliver on our goal of supporting patients directly in clinical trials and real-world applications, as well as enhancing the HCP and site experience.
“What attracted us most to StudyKIK was their deeply experienced, patient-first leadership and team, enhanced patient recruitment offering, strong adjacency to our decentralized clinical trials strategy, and synergies with our Catalyst site network.”
He declined to disclose financial details of the agreement but did tell us “StudyKIK will continue to operate as a distinct Syneos Health business. They currently sell to other CROs and will continue to sell to other CROs in the future.”
Clinical development
The StudyKIK acquisition is Syneos’ second patient recruitment-focused move in less than a month after the agreement with transportation firm Ride Health.
With Ride Health, Syneos is developing a transportation program for patients involved in its clinical trials in the US.
“At the time the firm said the aim was to expand access, improve retention while accelerating clinical trial recruitment for sponsors,” it said.
Clinical business
The StudyKIK takeover also follows the acquisition of Synteract and Illingworth Research Group Syneous completed last year.
And, according to comments by Syneos during its Q2 results presentation, the purchases had a mainly positive impact.
“Clinical Solutions revenue increased 31.1% on a reported basis and 27.5% on a constant currency basis to $991.1 million.
“Acquisitions contributed approximately 795 basis points and the divestiture of contingent staffing resulted in an approximate 85 basis point headwind to Clinical Solutions reported revenue growth.”
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