Kentucky-based CRO CTI Clinical Trial and Consulting Services will acquire Portuguese counterpart Eurotrials to create a top-20 CRO with a strong global presence.
Both companies offer services across the full spectrum of the drug development lifecycle in many therapeutic areas, but CTI stressed in a statement that this acquisition strengthens its existing real-world evidence business with new additions in Europe and Latin America.
Founded in Portugal in 1995, Eurotrials started activities in Brazil as early as 1998, and in the following years set up offices in Brazil, Argentina, Chile, Mexico, Peru and Spain. According to its own website, it’s been conducting postapproval studies for over 20 years. Its current real-world service encompasses phase 4 clinical trials, health economics and outcomes research, postauthorization safety or efficacy studies, compassionate use and expanded access, among others.
These Eurotrials offices will be added to CTI’s existing 20 locations in the U.S., South America, Europe and Asia-Pacific.
“This combined company will be one of the 20 largest CROs in the world, with associates in more than 30 countries across six continents. We believe this combined entity is the oldest, largest, privately owned CRO in the world with the founders still active in the company operations,” said Timothy J. Schroeder, CTI Founder and CEO, in a statement.
Citing company growth needs, CTI just recently completed a headquarter relocation from the Cincinnati suburb of Blue Ash, Ohio, to nearby Kentucky’s urban RiverCenter Towers complex, with a $36.4 million investment and commitment to add up to 500 new jobs over a 10-year period under a government tax incentive plan.
It also recently completed its new clinical research facility in Ohio that includes a 30-bed clinical pharmacology unit, a six-bed sleep research lab, an outpatient clinic and a clinical pharmacy.