Acquires DataCeutics in a $45 MM deal
Navitas Life Sciences, a TAKE Solutions Enterprise today announced that it will be acquiring Life Sciences services player, DataCeutics in North America.
The acquisition, as part of the 2021 growth strategy, spearheads the growth of Clinical business in accordance with the global Clinical market, which is expected to reach $32.9 B by 2020. The company is poised to gain from the strategic acquisition of DataCeutics, a specialty Clinical Functional Service Provider (FSP), delivering quality statistical programming, clinical reporting and clinical data management. DataCeutics strengthens Navitas Life Sciences in its high-end Data Sciences capabilities which include Clinical Data Management, Biostatistics and Statistical Programming, Medical Writing, Data Standards and Conversions as well as bolstering relationships with major pharma companies in North America. Navitas Life Sciences plans to complement DataCeutics’ capabilities with its own AI-driven clinical platform and near real-time data insights and analytics to deliver improved outcomes for clients across safety, quality, compliance, cycle time and cost. The company has core Clinical FSP capabilities and experienced resources in Oncology, Cardiology, Pulmonology, Infectious Disease and CNS.
Dr Krishnan Rajagopalan, Chief Growth Officer, Navitas Life Sciences said, “We are delighted to begin 2019 on a high note with this key acquisition. DataCeutics strengthens our capabilities in Data Sciences and FSP / BPO services and widens our therapeutic expertise in Cardiology, Oncology, Pulmonology, CNS, Infectious diseases etc. The addition of these competencies translates to business expansion in North American, European and Asian markets.”
He further added, “We are looking forward to bolstering the Clinical business further translating to a healthier pipeline in the coming quarters.”
Benefits of the acquisition
- Ability to better target the largely untapped and continuously evolving Data Sciences field supporting R&D efforts of novel therapies across various indications
- Enhances therapeutic expertise in Cardiology, Oncology, Pulmonology, Mental health, Musculoskeletal diseases, CNS, and Infectious diseases
- An increase of Life Sciences expertise by 10%
- Combined footprint will further cover North America, Europe, and Asia
Date: February 18, 2019