FOR IMMEDIATE RELEASE [Covington, KY ~ December 7, 2017] CTI Clinical Trial and Consulting Services (CTI), a global, privately held, full-service contract research organization announces the acquisition of Eurotrials, a full-service contract research organization, with more than 20 years of experience, and strong local expertise in Europe and Latin America.
The acquisition strengthens CTI’s existing Real World Evidence business, adding significant presence and expertise in Europe and Latin America. Eurotrials has offices in Argentina, Brazil, Chile, Mexico, Peru, Portugal and Spain, covering over 15 countries in both regions. Eurotrials provides an extensive array of services from early- to late-stage research as well as product support in accordance with global and specific regional requirements. Additionally, the Eurotrials footprint augments CTI’s current reach, enabling CTI to better serve clients and global programs.
“We are excited to join our companies together to create a stronger full-service global clinical research organization,” according to Timothy J. Schroeder, CTI Founder and CEO. “This combined company will be one of the 20 largest CROs in the world, with associates in more than 30 countries across six continents. We believe this combined entity is the oldest, largest, privately owned CRO in the world with the founders still active in the company operations. We’re also thrilled that the leaders of Eurotrials, Maria João Queiroz and Inês Costa, will continue to play a large role in the organization.”
“We are very pleased with the opportunity to combine strengths and expertise with CTI,” according to Maria João Queiroz, MD, Founder and CEO of Eurotrials. “Our companies have a strong cultural fit and a similar approach to clients and collaborators. Joining CTI enhances the access our clients have to industry leading therapeutic expertise, a broader global footprint, and a greater capacity for innovative solutions, while still maintaining focus on the local and regional proximity to our clients, as well as the quality and customer service that is highly valued by Eurotrials clients.”
The terms of the acquisition were not disclosed. Plante Moran and Fifth Third Bank provided support to CTI throughout the acquisition.