Bengaluru: In a view to strengthen its position as the largest medium sized provider of clinical development services, Chiltern, a leading contract research organization (CRO) successfully acquires Theorem Clinical Research, a Pennsylvania-based CRO. Jefferies LLC, Hughes Hubbard & Reed LLP, Simmons & Simmons LLP and Deloitte LLP, London acted as the advisors to Chiltern on this deal, while Theorem was advised by Robert W. Baird & Co. and Goodwin Procter LLP.
Commenting on the new acquisition, Dr. Jim Esinhart, CEO, Chiltern says, “By bringing Chiltern and Theorem together, we have created a unique, mid-sized research partner focused on providing exceptional scientific expertise and personal service. Clients can expect the same high level of service, now with expanded capabilities. Senior leadership will still be involved in running trials”.
Speaking in his shadow, Nick Thornton, Chairman, Chiltern adds, “The acquisition of Theorem marks an important milestone for Chiltern. We stayed true to our mission to be a responsive, client-centric mid-sized provider, yet we enhanced our geographic coverage and service offerings in key areas. We are delighted to welcome the dynamic Theorem team to Chiltern and are pleased to announce that Dr. John Potthoff, Theorem’s President & CEO, has joined our board as a Non-Executive Director”.
This acquisition will empower Chiltern to enhance its Oncology, Biopharma & other source offerings and also develop new capabilities in clinical analytics & supplies and medical diagnostics. Currently, the company has a workforce of 3700 employees across 47 nations and is planning to launch its services in new geographical areas of Europe, North America and Asia-Pacific.