Clinipace Wolrdwide, a Morrisville-based contract research organization, says it is acquiring Choice Pharma, a CRO that operates in Asia.
It’s the latest in a series of five acquisitions the company has made.
Choice Pharma operates in 15 countries, including China, Taiwan, South Korea, Singapore and Vietnam. It also maintains 20 offices.
Clinipace expands its global reach to more than 30 countries.
“In order to continue to address the changing industry landscape and the high demand by clients for operations in Asia, we began the process of determining the best path for investing in the growth of our company, which led us to Choice Pharma,” said Jeff Williams, CEO of Clinipace Worldwide. “With complementary operational strengths, a great reputation for quality and an experienced management team, the decision to combine the two companies was the best solution to continue to meet the long-term strategic goals of clients on both sides.”
Chris Wang, managing director of Choice Pharma, will serve as director of Asian operations.
No layoffs or office closings are planned.
Financial terms weren’t disclosed.
Clinipace raised more than $20 million in 2012 from investors to fund its continuing global expansion.
