“Blood health organization” Versiti has acquired regulatory affairs, quality and compliance services, Pearl Pathways.
The takeover – financial terms of which were not disclosed – will meld Versiti sample collection and logistics network to Pearl’s clinical trial consulting.
According to Versiti, Pearl’s knowhow will add to the capabilities developed through Versiti’s Diagnostic Laboratories.
Pearl also has an independent, AHRPP accredited institutional review board (IRB) that supports all aspects of human drug research for biopharmaceutical, medical device and diagnostic companies, as well as life science service providers.
Versiti President and CEO Chris Miskel, cited service expansion as the primary motivation for the takeover.
“This strategic collaboration not only enriches the scope and diversity of our research-based solutions from Versiti Clinical Trials, but also bolsters our spectrum of capabilities to support curing diseases sooner.”
"Pearl Pathways brings deep expertise in life science product development, which ultimately leads to getting life-saving devices, diagnostics, and therapeutics to patients faster.”
Miskel added that Pearl provides more breadth by allowing Versiti to serve clinical trials sponsors earlier and with more depth in the development pathway while continuing to provide services through regulatory approval and commercialization.
Growth through M&A
Versiti describes itself as a nonprofit, 501(c)(3) organization that serves as a critical resource partner to the healthcare community.
The firm operates a network of blood sampling, collection and distribution centres in Illinois, Indiana, Michigan, Ohio, Texas, and Wisconsin. The firm, which is headquartered in Milwaukee, has more than 2,300 employees.
The Pearl Pathways deal is in keeping with the growth through acquisition strategy Versiti has implemented over the past few years.
In 2019, for example, the firm bought Texas, US-based Cenetron Central Laboratories along with its subsidiary unit, Salus IRB.
And, more recently, Versiti acquired Quantigen, a Fishers, Indiana-based laboratory and sample management services business that works with “diagnostic assay creators, drug developers.”