INC Research, still completing its $232 million acquisition of clinical research organization Kendle International Inc. (NSDQ:KNDL), bought yet another CRO to add to its global footprint.
Raleigh, N. C.-based INC Research acquired Australian CRO Trident Clinical Research in an aggressive move that gets INC into a fast-growing market for early phase clinical studies.
Financial terms between the two private companies were not disclosed.
Under the agreement Trident becomes a wholly owned affiliate of INC Research. The acquisition brings Trident’s operations in Australia, New Zealand and India into INC’s fold. Trident’s operations in Mumbai, India will complement INC’s existing operations in Gurgaon, India.
“Trident is an important piece in our strategy to build a sustainable CRO business that both satisfies and anticipates the global drug development needs of our customers,” INC Research CEO James Ogle said in a statement.
Adelaide, Australia-based Trident was founded in 1997. The company has completed more than 500 clinical studies across all phases, including more than 100 phase 1 studies.
Garth Tierney, managing director and co-founder of Trident, will become general manager, Australia at INC Research. Tierney was a veteran of CRO industry leader Quintiles before leaving to start Trident in 1997.
INC has been on something of a buying spree this year. Trident marks INC’s second major acquisition in as many months and the third this year. In May, INC announced its purchase of the larger Kendle, a move that vaulted INC much closer to top CROs Quintiles, PPD (NYSE:PPDI) and Covance Inc. (NYSE:CVD).
INC’s acquisition of Kendle is expected to close in the third quarter.
INC boosted its consulting capabilities with the purchase of Morrisville, N.C.-based AVOS Life Sciences in January.
