Chiltern Announces Agreement to Acquire Theorem Clinical Research
News Aug 13, 2015
Chiltern has announced that it has signed a purchase agreement to acquire Theorem Clinical Research, another leading global CRO.
“This is a direct response to client demand for a clinical research partner that can provide scientific and operating strengths globally, in a responsive and flexible way,” said Dr. Jim Esinhart, Chiltern CEO. “This transaction will bring together more than 3,700 people in more than 45 countries dedicated to the philosophy of “Designed Around You.”
“Chiltern and Theorem have carved out complementary niches, even across key geographies,” said Dr. John Potthoff, Theorem president and CEO. “In key areas, our capabilities will dovetail into current Chiltern operations — this is a mutually beneficial deal.”
The combined company will operate under the name Chiltern and will gain global reach - most notably in China and Japan - as well as new service offerings for medical devices and diagnostics, clinical analytics and clinical supplies.
The planned transaction between the two organizations is subject to customary regulatory and closing conditions. Both companies will follow antitrust guidelines and continue to function as separate and independent entities until the acquisition is approved. The transaction is expected to close within the next several weeks.