Ergomed Plc (LON:ERGO) has strengthened its presence in Germany with the acquisition of a contract research specialist and a data company.
O+P offers clinical studies research for drug in development the dosing stage (Phase II) through to the long term effects once a drug has been approved (phase IV) and has worked on more than 150 assignments for over 60 clients since it was founded in 1991.
The other acquisition, GASD, specialises in statistics and data management.
Ergomed said O+P would complement its existing European CRO (contract research) network, while GASD will become the centre of excellence for data management and statistics for Ergomed worldwide.
Miroslav Reljanovic, Ergomed’s chief executive, said: "Both of these bolt-on acquisitions are very much in line with the strategy we laid out at IPO for augmenting the growth of our services businesses.
“They immediately add significant, tangible value including a proprietary Electronic Data Capture system, OPVERDI [from O+P] which will be developed further especially in the area of post-marketing data collection.”
No details of the cost of the acquisitions were released though Ergomed said it would issue 138,300 new shares at 137p to pay part of the consideration.