Theorem Clinical Research is looking to up its game in cardiac trials, teaming up with BioTelemetry ($BEAT) for access to high-tech core labs and a bigger share of the market.
BioTelemetry, formerly known as CardioNet, handles complex cardiac trials through its Cardiocore subsidiary, which it picked up for $23.5 million in 2012. Under the terms of the deal, the two will collaborate on clinical trials across all phases of development, combining Theorem's scale as a global CRO with Cardiocore's state-of-the-art labs.
"Theorem's business strategy is to offer our clients the very best in every service area," CEO John Potthoff said in a statement. "BioTelemetry reinforces that strategy with a team of industry-leading scientists, a set of advanced technologies and a broad base of cardiac testing modalities. Theorem clients will benefit from BioTelemetry's expert consulting services and deep experience across all major therapeutic areas."
BioTelemetry's has core labs near San Francisco, London and Washington, DC, offering electrocardiography, Holter monitoring and multigated acquisition scans, among other services. Combining those capabilities with Theorem's experience in complex protocols and adaptive clinical trials will put the partners in a unique position in the industry, BioTelemetry CEO Joseph Capper said.
Theorem has hardly been shy about partnerships over the last year, expanding its capabilities through a preclinical deal with Charles River Labs ($CRL) in September and targeting medical devices and diagnostics through a tie-up with Emergo over the summer.
- read the statement