Home » News » CROs/Service Providers » Venn Life Sciences acquires CRM Clinical Trials

Venn Life Sciences acquires CRM Clinical Trials

Monday, November 4, 2013

CRO Venn Life Sciences has signed a conditional agreement to acquire the trade and certain business assets and liabilities of CRM Clinical Trials (CRM), a German-based CRO, for a total consideration of $0.8 million.

During 2014, CRM is expected to generate revenues of around $2.1 million ($1.66 million in 2013) and to contribute a profit before tax of approximately $345,000 ($276,000 in 2013).

Completion of this acquisition is conditional upon the consent of certain key clients to the transfer of their contracts with the seller. In addition, the allotment of the consideration shares will be conditional on them being admitted to trading on AIM.

The acquisition of CRM Clinical Trials expands Venn’s geographical footprint across multiple sites in Europe and establishes a presence in one of Europe’s most significant regions for clinical trials. CRM specializes in dermatology, pneumology, urology and sports medicine, and in addition to the German market, CRM also serves the Austrian and Italian markets.

Looking for more news, check out the new FREE CenterWatch Weekly!

The new FREE CenterWatch Weekly is your source of critical news, emerging trends, and business issues around everything in the rapidly changing clinical research marketplace. Check out our new CWWeekly page! Sign up today for your free email newsletter, update your bookmarks and check us out regularly! We look forward to bringing you the best news and information about clinical research in 2018!