CRO Medpace has bought MediTech Strategic Consultants, a European contract researcher that specializes in medical device R&D.
With the buyout, Medpace is looking to grow its market share in the medical device world, the company said, and MediTech's capabilities allow the company to provide full-spectrum support for European devicemakers. The company didn't disclose financial details.
Medpace will retain MediTech founder and CEO Carla Kikken-Jussen, bringing expertise in a wide-range of devices for therapeutic areas like ophthalmology, cardiovascular, gastroenterology and orthopedics, Medpace CEO August Troendle said.
"MediTech's expertise complements and broadens our global medical device service offering," Troendle said in a statement. "MediTech is well respected in both Europe and the U.S., and this strategic acquisition fully supports Medpace's growth and provides our sponsors a wide range of regulatory and clinical expertise across North America and Europe along with expanded operational capacity."
The deal follows Medpace's 2010 acquisition of Symbios Clinical, a medical device trial contractor. As Outsourcing-Pharma points out, Medpace has been able to bankroll its M&A plans since selling a majority stake to CCMP Capital last year for up to $600 million.
- read Medpace's release
- check out Outsourcing-Pharma's report