London, UK, Wilmington, NC, and Cary, NC, 15 July 2014: Chiltern and Ockham, two leading full-service contract research organizations (CROs), today announce that Chiltern has acquired 100% of Ockham and that the companies will merge their operations.
The combined company will be called Chiltern. Ockham's management team will join the management of the enlarged group, thus ensuring a seamless continuation of high quality services. Chiltern's CEO Jim Esinhart, PhD will be CEO of the Chiltern Group, with Ockham's CEO, James V. Baker, becoming Chief Development Officer. Nick Thornton will remain as Chairman.
This complementary transaction significantly strengthens the combined service offerings in three strategic areas:
- Oncology specialization with extensive expertise across all clinical phases of development (Chiltern Oncology);
- Biopharmaceutical services with global reach and scale, including deep therapeutic experience in respiratory, ophthalmology, infectious disease, vaccines and dermatology (Chiltern Biopharmaceutics); and
- Global Functional Service Provider (FSP)/Sourcing provision specializing in tailored resourcing solutions across clinical, regulatory, medical and biometrics (Chiltern Source).
The combined company's clients will benefit from a fuller range of services across a global network of offices and expertise.
Chiltern CEO Dr. James Esinhart commented: "This merger is a natural progression towards our strategic goal of becoming the premier specialized mid-tier CRO. Throughout this process I have been extremely impressed by the skill and professionalism of Ockham's employees, the quality services they deliver, and the vision of the leadership team. There is a perfect strategic fit between our companies and I'm excited to work with the entire Ockham team to ensure a seamless continuation in the delivery of high quality services to all of the combined company's clients."
Mr. James V. Baker, who will become Chiltern's Chief Development Officer, echoed this sentiment in saying: "In Ockham's continuing progression toward building the top niche oncology CRO, our joining with Chiltern has been an easy choice, allowing us to leverage Chiltern's global reach and highly developed staffing business in Europe, both of which are complementary to Ockham's deep oncology expertise and source business in the US. We are fortunate to have found the ideal partner with a complete understanding and commitment to the unique needs of our emerging biotech clientele."
Fairmount Partners represented Ockham as its exclusive financial advisor in arranging the sale to Chiltern.
Established in 1982, Chiltern is a leading global clinical CRO offering specialized services in oncology and a range of other therapeutic areas, together with global sourcing and FSP solutions. Chiltern's 2,100 people work in more than 40 countries and offer expertise, engagement and tailored, responsive solutions to meet the demands of biotech and pharmaceutical partners of all sizes. Further information is available at: www.chiltern.com
Ockham is a leading global CRO and FSP organization, supplemented by a robust traditional sourcing component, founded in 1986. The company offers a full range of clinical research services for Phase I-IV clinical trials in oncology, as well as other therapeutic areas. Ockham provides its clients with a combination of medical and technical expertise within their tightly controlled clinical studies. Ockham is headquartered in Cary, North Carolina with satellite offices strategically placed around the United States, India and the United Kingdom to service global customers and operations. For more information about Ockham, visit www.ockham.com.
About Fairmount Partners:
Fairmount Partners is one of the largest investment banking groups in the Mid-Atlantic region. The firm specializes in advising middle-market growth companies with mergers and acquisitions, capital raising and strategic advice. Fairmount offers deep expertise in the Healthcare Services and Technology, Information Technology Services, Technology and Software and Industrial and Consumer Products markets. Fairmount has completed more than 140 transactions throughout North and South America, Europe, Asia and Australia since its inception in June 2003. For more information, visit: www.fairmountpartners.com