Earlier this month, Radiant Research exited the CRO business, as parent company Clinical Research Advantage shipped out its drug development arm. Now the company is focusing on its remaining core business: maintaining and expanding a network of clinical trial sites.
Selling Radiant Development to CRO Accelovance made sense, CRA CEO Mark Hanley said, as the company has plenty on its hands with 57 trial locations around the world, and maintaining a contract research business would put CRA in an awkward position.
"As an organization that partners with many CROs, we did not want to compete with customers in our own space," Hanley said in a statement. "(Whereas) Accelovance is a highly respected CRO with a proven track record of excellence. The company's acquisition of Radiant Development is a perfect fit."
When CRA bought Radiant last year, it came to have the largest and most therapeutically diverse clinical trial site network in the U.S., the company said. With clinical development in the rearview, it can buckle down on operating the sites, with plans to expand its holdings this year, Hanley said.
For its part, Accelovance looks forward to integrating Radiant's former CRO operations in Illinois, Florida and North Carolina, plus its established partnerships in Europe and Asia. Radiant Development will now function as a division of Accelovance, handling project management, regulatory consulting, safety testing and statistical services.
- read Radiant's statement