Astorg announced on June 20 that it acquired Avania, a global, full-service MedTech contract research organization (CRO) based in the Netherlands.
Avania specializes in medical devices, technology and combination products. It was formed in March 2020 from the combination of five complementary businesses and established a platform to serve sponsors worldwide in advancing medical technology products from early development to post-market. It ensures customized, scalable solutions that optimize efficiencies and streamline the advancement of medical technology.
Astorg is a global private equity firm with $15.7 billion of assets under management. Astorg partners with management teams to acquire market-leading global companies headquartered in Western Europe and North America.
Kester Capital intends to retain a minority stake in Avania. Astorg will advance Avania’s development as a MedTech solution provider. Financial terms of the transaction were not disclosed.
According to the Irving Levin database, this is the 16th CRO acquisition of 2022, which is a 38% decrease from this time last year which saw 26 CRO deals. The only CRO deal with a disclosed price in 2022 is Charles River Laboratories acquiring Explora BioLabs for $295 million.
