Covington-based CTI Acquires Eurotrials
CTI Clinical Trial and Consulting Services has acquired Portugal-based Eurotrials.
In an announcement, Covington-based CTI stated that the move strengthens its Real World Evidence business, and adds a significant presence in Europe and Latin America.
“We are excited to join our companies together to create a stronger full-service global clinical research organization,” said Timothy J. Schroeder, CTI founder and CEO, in a news release. “This combined company will be one of the twenty largest (contract research organizations) 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,” said Maria João Queiroz, MD, founder and CEO of Eurotrials, in the announcement. “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.
CTI recently moved to Covington's RiverCenter towers where it will ultimately employ hundreds of workers.