Instem PLC (AIM:INS) chief executive Phil Reason joined Proactive's Stephen Gunnion with news of the acquisition of Swiss competitor PDS Pathology Data Systems Ltd for 14.25 million Swiss franc (£11.4 million) in a deal expected to be immediately earnings enhancing.
Reason telling Proactive that PDS provides software for non-clinical study management and software and outsourced services for regulatory submissions using the Standard for the Exchange of Non-clinical Data (SEND).
Instem said the acquisition extends its Study Management and SEND market share, enabling it to concentrate investment on a single line of SEND and preclinical study management products. It also removes duplication in the market and strengthens its relationship with joint clients as 70% of PDS's top 20 clients are already clients of Instem.