Theorem Clinical Research has inked a deal with Emergo Group, pooling their resources to provide regulatory consultation to makers of medical devices and in vitro diagnostics.
Emergo is a regulatory-focused contractor, with more than 2,500 med tech clients across 25 countries, the company said. Theorem, a fast-expanding global CRO, believes pairing up will help it expand its share of the device and diagnostics outsourcing world and complement its strengths in running clinical trials, Senior Vice President D. Lee Spurgin Jr. said.
"Working together we can provide more services and a bigger global footprint, so our strategic relationship helps us to be a one-stop provider for our clients," Spurgin said in a statement.
Theorem's move toward devices and diagnostics follows the company's efforts to expand its heft around the globe, this month securing a new credit line with GE Capital that will allow it to scout for M&A. The CRO has found success in Asia and the boom in clinical trials there, and CFO Jason Monteleone said the company is looking at mid-sized companies in China and elsewhere on the continent to pad its presence on the market.
For Emergo, tapping Theorem's global network will help further the reach of its device and diagnostics offerings, which also include clinical, quality-system and reimbursement consulting.
"The right strategic relationship strengthens both companies," Emergo CEO Rene van de Zande said in a statement. "We believe the synergy we achieve with Theorem is a benefit to all concerned."
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