Italy's CROS NT reaches into U.S. with Stat-Tech buyout

Italian contract researcher CROS NT has landed in the U.S., snapping up medical device-focused CRO Stat-Tech.

Neither company is disclosing financial details, but the Chapel Hill, NC-based Stat-Tech will become a subsidiary of CROS NT once the deal closes later this month.

Stat-Tech has contributed to numerous medical device trials for FDA clearances and approvals since its foundation in 1996, according to the company, and adding its capabilities to CROS NT's biometrics heft will help the Italian outfit expand its client base, CEO Paolo Morelli said.

"The experience and quality of the Stat-Tech team will add strong value to CROS NT, adding the important area of medical devices to our portfolio and allowing us to improve our services to our existing U.S. customers by being closer to them," Morelli said.

CROS NT's American debut follows its expansion into the U.K. last year, adding to its capacity in Italy and Germany.

Beyond medical devices, Stat-Tech has run trials for biologics and small-molecule drugs, and pairing its might with CROS NT's expertise will help the company grow its market share, co-founder George DeMuth said.

"This move allows us to provide a broader range of services and additional resources to our existing clients and provides additional opportunities for growth," DeMuth said in a statement.

- read the announcement