BioOutsource Global Expansion
News Jun 26, 2014
BioOutsource Ltd. has announced that the last 12 months have been an exceptional growth year for the company. Global demand for outsourced testing services, coupled with BioOutsource’s continued investment in R&D and the opening of a BioSimilar Centre of Excellence in Glasgow in February 2014, has driven continued development of the company and created the need to establish a new North American Testing Facility in 2015.
BioOutsource revenues have grown by more than 40% over the last 12 months with positive growth delivered across all business units. The company continues to strengthen and reinforce its position as market leader in the biological analysis of BioSimilar molecules.
BioOutsource CEO, Gerry MacKay commented “This year has been an exceptional year for BioOutsource, as we continue to grow and win more market share. Our biggest growth market has without doubt been North America, where we have seen sales triple in the past year.”
Following the successful opening of a US office in 2013, based in the BioTechnology Hub of Cambridge, MA, the company plans to open a Laboratory Facility in the Massachusetts area in early 2015 to service their North American & Latin American clients. The new Laboratory Facility will support and strengthen the company’s BioSimilar and BioSafety service offering.
“North America has always been an essential strategic element of our global expansion plans, exemplified by our US office and active membership of MassBio. We are already a global company and the time is right to extend our global client footprint with the addition of a new facility in the US. The new facility will benefit our existing and new clients, improving logistics and ensuring our technical experts are close by.”
Robert K. Coughlin, President & CEO of MassBio commented “We are excited to welcome Gerry and his team to Massachusetts, as the gateway into business in the U.S.”
Ahead of announcement, CEO, Gerry MacKay met with the Governor of Massachusetts, Deval Patrick and other officials and leaders from Massachusetts at BIO in San Diego. Governor Patrick commented “We welcome BioOutsource’s expansion in Massachusetts and look forward to their ongoing contributions to our thriving life sciences community”.
“We are delighted to announce our plans to open a new Laboratory Facility in the US and a further announcement will be made soon.” concluded Mr. MacKay.