IMA Group, parent of IMA Clinical Research, acquired Clinical Trials of America (CTA) for an undisclosed sum, extending the company’s presence in the U.S. southeast.
CTA, which is based in Monroe, Louisiana, will continue to operate with current leadership and staff. Jeb Andrews, CTA’s former chief executive and president, will lead operations as senior regional director of operations, the company said in a Jan. 11 press release.
Financial terms of the deal weren’t disclosed.
With the combination, IMA said it will be able to speed startup and patient recruitment as well as offer a broader scale of trial opportunities to more patients for additional disease states including nonalcoholic steatohepatitis, hypertension, atrial fibrillation, asthma and smoking cessation.
"The addition of CTA is a natural fit for our organization, expanding our clinical network and adding a large, scalable research business that further differentiates us to sponsors and contract research organizations for fast startup, quick enrollment and high-quality outcomes," Mark Weinberger, IMA Group’s president and chief executive, said in the release. "Our clinical research division has grown more than 300% during the past three years.’
The deal marks the seventh acquisition by IMA Group's clinical research division since 2018.
The clinical trial arena has become a hot market in the wake of the COVID-19 pandemic and the industrywide adoption of decentralized clinical trials, new technology and a push by regulators to include a more diverse patient population in trials.