Clinical Research Advantage is stretching out its business model, buying up Comprehensive Clinical Development's late-stage trials unit and reaching into central nervous system studies.
As it stands, CRA operates more than 60 clinical trial sites in the U.S., covering Phase II-IV for sponsors and CROs. Now, after buying Comprehensive Clinical for an undisclosed sum, CRA can compete for studies in schizophrenia, bipolar disorder, depression and Alzheimer's disease, the company said.
"By adding Comprehensive Clinical Development to the CRA family of trial sites, we are able to increase our capabilities to meet the needs of the growing pharmaceutical marketplace," CEO Mark Hanley said in a statement. "... CCD has an impressive track record in psychiatric trials, and we see it as an ideal partner as we continue to expand our operations."
Comprehensive's sale comes on the heels of a March Chapter 11 filing, in which the company said it would spend 6 to 9 months evaluating its options and deciding how to move forward.
For CRA, the latest deal follows its November acquisition of Radiant Research, a buyout aimed to expand the company's spate of clinical trial sites. That acquisition made CRA the largest and most therapeutically diverse trial site network in the U.S., the company said, and CRA sold off Radiant's contract research division to Accelovance in March, focusing solely on building its network of research facilities.
- read the announcement