ArchiMed announced it has acquired two clinical contract research organizations (CRO): Port Jefferson, New York-based Symbio, LLC and Proinnovera GmbH, in Munster, Germany.
According to data captured in the LevinPro HC database, this transaction marks the 37th CRO acquisition of the year. Between January 1, 2022, and November 17, 2022, there were also 37 CRO transactions announced, showing a healthy and stable CRO market.
Symbio offers expertise in proof-of-concept, medical devices and Phase 1 – Phase 4 clinical studies and has completed more than 200 clinical studies to date. Proinnovera was founded in 1997. It serves more than 100,000 patients across more than 4,500 centers.
ArchiMed is an independent investment firm focused exclusively on healthcare industries. It has directly managed and invested in more than 80 companies with a combined value of $50 billion. Its mix of operational, medical, scientific and financial expertise allows the ArchiMed team to serve as both a strategic and financial partner to European and North American small and middle-market businesses.
With this transaction, Proinnovera and Symbio will merge into one company under ArchiMed’s umbrella. The company will provide consulting services and testing and clinical research through all developmental states. The financial terms of the transaction were not disclosed.
This transaction is ArchiMed’s first acquisition of the year. In 2022, the company purchased Natus Medical Incorporated, a medical devices company, and Title21 Health Solutions, an end-to-end software provider for cell and gene therapy labs.
