Life sciences and supply chain management company, TAKE Solutions, announced on Friday that it will be acquiring two US-based companies in an all-cash deal amounting to a whopping $72 Million and including contingent payments subject to certain financial milestones.
The company also said that with the acquisition of KAI Research, it would acquire Phase II, III capabilities in North America, adding to its current service offerings in Europe and Asia. “KAI (Research) strengthens our therapeutic expertise in mental health, musculoskeletal diseases, and medical devices. The target has long-standing relationships with clinical sites and trusted network of service providers,” the company said in a BSE filing.
“This acquisition also adds to the depth of our top pharma relationships in the US geography,” the company said in regards to the DataCeutics acquisition.
KAI Research is a full-service Clinical Research Organization and health research company in the field of life sciences. For the financial year-end December 31, 2017, KAI Research reported revenue of £10.5 Million ($8.9 million), the communication to the exchange said. The acquisition by TAKE Solutions is expected to close by the end of this month.
DataCeutics is a company that provides Clinical Data Management services in the pharmaceutical industry. Its acquisition will strengthen TAKE’s domain strength in data sciences. DataCeutics reported revenue of $30 Million for the year-end December 31, 2017, which was a 33.33% increase from the previous year. “The acquisition is expected to close by February 2019, subject to customary closing conditions,” the filing said.
After these announcements, shares of TAKE Solutions ended at INR 148, down 0.87% from the previous close in BSE.