Indian clinical research organization (CRO) Veeda Clinical Research Limited has acquired European headquartered counterpart Heads, citing its global research and oncology experience as motivations.
The deal – financial terms of which were not disclosed – is part of an effort to grow Veeda’s global presence in line with customer demand for clinical trial capacity in multiple markets according to CEO, Mahesh Bhalgat.
"With the growing emphasis on global clinical trials, this acquisition now positions Veeda to offer access to a very diverse population for conducting large scale multi-geography trials efficiently.
Both organizations are focused towards driving equitable access to trials and fostering the development of innovative treatments worldwide.
“The acquisition brings together a unique team of scientists and researchers, having deep therapeutic area expertise in oncology research. This equips Veeda to build long and enduring site relationships across geographies,” he said.
Heads has offices or an operational presence in 25 locations across Europe, North America, and Asia according to its website. Going forward, details of how the firms will work together were not provided.
However, Heads partner, George Kouvatseas said the CRO would “continue to offer uninterrupted support to client programs.”
Kouvatseas added that “The Veeda and Heads organization together are committed to nimble operations through a structured integration process without impact to ongoing client programs," he added.
The takeover is Veeda’s first deal since industry veteran Bhalgat was appointed CEO in early March. The move fits with comments company director, Vivek Chhachhi, made at the time.
“Mahesh brings global experience from organizations such as Amgen, Sanofi, Syngene and others to drive international standards into Veeda.
“He will focus on business growth, including mergers and acquisitions, leveraging technology and client centricity to bring the best of Veeda's service portfolios to the global clients.”
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