Carlsbad-based contract research organization Synteract has acquired Munich, Germany-based Harrison Clinical Research, combining to form a new multinational company called SynteractHCR. Financial terms were not disclosed.
A contract research organization, or CRO, provides ancillary, outsourced research support to the pharmaceutical, biotechnology and medical device industries on a contractual basis.
The company will have offices in 16 countries, with operations in Western and Eastern Europe, Israel, South America and the U.S. Its headquarters will remain in San Diego.
It will have a combined staff of more than 800, and the existing management will stay in place.
Additionally, SynteractHCR’s U.S. presence will include two new offices on the East Coast in Research Triangle Park, North Carolina and Princeton, New Jersey, reflecting coverage of three important biopharmaceutical hubs.
This expanded presence will allow the company to offer strong international and regional clinical trial support to clients throughout the world, the company said in a statement.
SynteractHCR is a portfolio company of Gryphon Investors, a San Francisco-based private equity firm, which was the lead financial partner in the acquisition. Fairmount Partners provided financial advice to Synteract, while KPMG International provided financial advice to HCR.
The companies provide experience in conducting clinical trials across multiple therapeutic areas, including the oncology, central nervous system, infectious disease, endocrinology, cardiovascular and respiratory fields.
— SDBJ Staff Report