Chennai-based TAKE Solutions Ltd, a business technology company focused on life sciences and supply chain management, has agreed to acquire two US-based companies operating in the life sciences space, it said in a stock-exchange disclosure on Friday.
TAKE Solutions is buying health research firm KAI Research for $27 million (around Rs 190 crore) and clinical research and functional service provider DataCeutics for $45 million (about Rs 317 crore), both in cash.
The acquisition of KAI will strengthen TAKE’s therapeutic expertise in mental health, musculoskeletal diseases, neurology, infectious diseases, oncology and medical devices. TAKE will also acquire Phase II and Ill capabilities in North America adding to its current service offerings in Europe and Asia.
The acquisition of DataCeutics will strengthen TAKE’s data science capabilities, particularly in life sciences and will boost its presence in the US. TAKE will absorb DataCeutics’s team.
TAKE will complete its acquisition of KAI by the end of this month and that of DataCeutics by the end of February.
Founded in 1986, the Maryland-headquartered company is a full-service contract and health research company and is a wholly-owned subsidiary of health research and advisory services company Altarum. Its area of operations includes clinical trial management, clinical research consultation, and data management and standardisation.
KAI Research has differentiated offerings such as patient registries and e-clinical solutions, according to the release.
KAI Research’s revenue stood at $10.5 million for the financial year through December 2017, up from $8.9 million in the previous year.
Founded in 1993, the Philadelphia-headquartered firm offers clinical data management services to the pharmaceutical industry. The company provides SAS-based statistical programming, clinical reporting and clinical data management programming.
DataCeutics’s revenue stood at $20.9 million for the financial year through December 2017 as against $20.1 million in the previous year.
Founded in 2000, the company offers clients clinical, regulatory and safety-based services in life sciences, besides catering to the supply chain management segment. Its clients include biopharmaceutical companies as well as generics manufacturers.
The firm’s consolidated revenue from operations stood at Rs 1,587.2 crore for the financial year 2017-18, up from Rs 1,344.6 crore in the previous year. Its life sciences vertical had contributed to about 88% of the revenue in 2017-18.