After establishing itself in southeastern Europe, Zeincro Group is ready to expand its reach on the Continent. The CRO announced that it has consolidated with another European CRO, Trial Masters, and in turn, is expanding its services to Hungary and Romania.
Prior to the merger, Zeincro operated in Turkey, Greece, Cyprus and the U.K. The union will not only broaden Zeincro's geographic stronghold, but will also enhance Zeincro's services in risk management, pharmacovigilance, post-marketing safety, efficacy studies and regulatory affairs. The financial terms of the merger were not disclosed.
"We are excited to be joining Zeincro Group. This is a natural fit as we both share the same core values and fundamental approach to successfully delivering clinical development programs," said Trial Masters CEO János Demeter in a statement. "As we continue our local presence but also become part of a larger organization, we will be able to enhance the support we offer to our customers."
Central and Eastern Europe have emerged as new power players in research and manufacturing in recent years. The European recruitment and trial management company Synexus acquired Polish CRO Osteomed, quadrupling its capacity in the country in the last two years, with Synexus CEO Christophe Berthoux touting the country as a gateway to more business in that part of Europe. Thermo Fisher Scientific has also shifted some of its manufacturing from China to Eastern Europe, which should save the devicemaker $20 million this year. It also has its sights set on extending its work in Russia.
As Zeincro Chairman Gregory Sivolapenko says, the Zeincro-Trial Masters merger can come down to two things: location and growth. "Adding Trial Masters to Zeincro Group will extend our geographic reach and allow us to work on larger-scale projects," he said in a statement.
- read the statement