Contract research organization CTI Clinical Trial and Consulting Services is buying up fellow CRO Clinart to deepen its reach in the Middle Eastern and Northern African regions.
Clinart works on a series of services from early- to late-stage research as well as product support. Along with getting its two decades’ worth of experience, CTI’s acquisition will also broaden its geographic footprint in the Middle East and North Africa, tapping Clinart’s associates in Egypt, Morocco, Tunisia, Lebanon, Saudi Arabia, Kuwait, Jordan, Oman and the United Arab Emirates and enabling CTI to better serve their customers and their global programs.
Alaa Assem, M.D., former CEO of Clinart, will under the deal become the managing director for the regions and “will be integral to the success of the integration and the growth of CTI in the MENA region in the near and distant future,” according to a statement from the CRO.
Financial terms of the buyout were not disclosed.
“We are excited to have Clinart join CTI to create a stronger and more robust global full-service clinical research organization,” said Patrick Earley, CTI’s chief international business officer. “This acquisition has been in the works for quite some time, and despite the global crises we’re currently experiencing, we felt passionately about moving this deal forward for the future success of our organization. In fact, this merger will allow both companies to continue and expand the global reach of their important work in COVID-19 research.”
“Joining CTI allows for our clients to have expanded industry leading therapeutic expertise, a broader global footprint, and a greater capacity for innovative solutions,” added Assem. “Our employees have been key to our success in the region the last two decades, and they will continue to use their local expertise to support CTI’s growth and projects.”