Clinipace Worldwide, which raised $50 million in January as a “war chest” for growing its business, has wrapped up the acquisition of a clinical research organization in Germany.

Terms were not disclosed.

Clinipace, a contract research and life science services company, has now made six acquisitions in recent years and has grown its employee headcount to more than 1,000. spread across operations in 39 countries.

The latest addition is Accovion, which is based in Frankfurt, Germany.

​”For more than 10 years, Accovion has been successfully conducting clinical trials across all phases of clinical development and is currently active in more than 20 countries,” Clinipace reported.

“Bringing these organizations together strengthens Clinipace Worldwide’s operational and therapeutic expertise in Europe, with strong back-end and front-end services, and expands the company’s footprint to additional countries including Russia, Italy, Czech Republic, Romania, Poland, Spain, France and Ukraine.”

As part of the deal, all Clinipcae operations in Europe will be supervised by Accovion CEO Dr. Andree Beckerling. He also becomes a member of the Clinipace executive committee.

“To be competitive in today’s market, it is important to have, among other things, a strong multi-national scale, broad therapeutic expertise and a better service delivery model,” said Clinipace CEO Jeff Williams.

“Bringing our companies together substantially enhances our existing European footprint throughout western, central and eastern Europe and enables us to offer a competitive array of global clinical development and regulatory services in these regions. Supported by our technology-amplified dCRO delivery model, we now have a very compelling value proposition for sponsors looking for support in these markets.”