ProPharma acquires Croatian outsourcing firm, expands in Europe
NORTH CAROLINA, UNITED STATES — Research consulting organization (RCO) ProPharma Group (ProPharma) has acquired Croatia-based RCO Clinres Farmacija, subsequently expanding its presence in the European market.
The acquisition builds up ProPharma’s presence in Central and Eastern Europe. Clinres Farmacija operates in Croatia, Bosnia and Herzegovina, Serbia, Romania, Bulgaria, North Macedonia, Montenegro, Georgia, and Albania.
The region is gaining considerable demand from clients who wish to avail services and gain access to advanced pharmaceutical, medical device, and diagnostic development programs.
With Clinres Farmacija under its wing, ProPharma is looking to provide cost-effective clinical services and new offerings to its clients.
The acquisition aligns with ProPharma’s mission of delivering state-of-the-art therapies, realizing healthier outcomes, and expanding its footprint in post-market regulatory services and pharmacovigilance.
Pharmacovigilance is the science and activities relating to the detection, assessment, understanding and prevention of adverse effects or any other medicine/vaccine related problem.
“The addition of Clinres Farmacija to ProPharma significantly bolsters our ability to provide partners with comprehensive and cost-effective solutions and patient access,” said ProPharma’s Chief Executive Officer, Michael Stomberg.
“Today’s acquisition is the latest step in the development of our Research Consulting Organization model, growth strategy, and vision for the future.”
ProPharma is a portfolio company of Odyssey Investment Partners, a U.S.-based private equity investment firm.
