A year removed from taking a private equity buyout, U.K. CRO Quotient Clinical has watched demand for its services spike, the company said, plotting some major investments to keep the pace of growth.
Year-over-year revenue jumped 24% in 2014, according to the privately held Quotient, driven by the addition of more than 30 new customers in pharma and biotech. The company, which specializes in early-stage research, is expecting to post similar growth in 2015, noting that its repeat business wins hit an all-time high at year's end.
To keep things moving, Quotient is planning a series of infrastructure investments over the next year that will effectively double its capacity, the company said.
"Our growing customer base, coupled with the positive dynamics of the pharma R&D outsourcing market, have been the key drivers behind our decision to increase our operating capacity, CEO Mark Egerton said in a statement. "… We look forward to another exciting year ahead, and to strengthening our relationships with our customers, helping to transform drug development with our science and innovation."
In late 2013, Bridgepoint Development Capital bought Quotient for an undisclosed sum, joining the crowd of private equity outfits buying into the CRO world.
- read the statement