Theorem scouts for M&A with new credit line

CRO Theorem Clinical Research has locked down a new credit line with GE Capital, allowing it to draw funds for future acquisitions and expand its footprint.

The company has its sights set on Asia, CFO Jason Monteleone told Outsourcing-Pharma, looking at deals for mid-sized CROs that could pad its Chinese presence and add some analytical expertise.

"By establishing this line of credit with a top institution like GE Capital, Theorem is prepared to rapidly respond to organic or acquisition growth opportunities," Monteleone said in a statement.

Theorem already operates in more than 30 countries, the company said, with about 40% of its staff working out of Asia. The growing demand for clinical trials on the continent has Theorem considering M&A, and Monteleone said Nautic Partners, the CRO's private equity owner, might be willing to kick in some cash for a larger deal.

The company has been on an organic growth spree over the past year, expanding its staffing and outsourcing capabilities in Latin America and Asia, and teaming up with CMO Gallus to offer combined research and manufacturing services to clients.

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