The Hindu Business Line : Synchron acquires Innovance

Ahmedabad April 4 In India's first-ever acquisition in the contract research organisation (CRO) space, Ahmedabad-based Synchron Research Services Pvt Ltd has announced the acquisition of Innovance, a local start-up CRO.

The deal with Innovance, having a world-class clinical research facility in Ahmedabad, was facilitated by Deloitte, according to a release.

This acquisition has provided Synchron an additional facility which offers internationally accepted clinical research services. The new clinical facility has altogether 200 beds across Asia. This makes Synchron one of the largest Asian CRO. In addition to this, Synchron is building a 32,000 sq. ft. facility exclusively for bio-analytics and data management, which would be ready by August.

Synchron business has broad based loyal client franchise with repeat business. And with about 75 per cent Europe/US clients who will only be further assured with this new facility offering international level clinical research facility.

"Synchron is looking for more important acquisitions in India and other parts of Asia in future to increase our Asian footprint to provide more research offerings to our clients," said Dr. Shivprakash, Chairman and Managing Director of Synchron.

Synchron is the first privately held CRO to be started in India in 1998 and partnered with Parexel, a leading International CRO in 2006. Synchron has built an industry leading reputation as a premiere CRO by providing drug development services to domestic and international clients with consistent quality and newer capabilities.

Bangkok operations

Synchron also simultaneously started its operations in Bangkok with 30-bedded clinical research facility with analytical capability by joining hands with local investors. The Bangkok facility is called Bio-Innova-Synchron. This is the first CRO in Thailand, which will provide services to the clients wishing to register their products in Thailand.

Synchron provides a broad range of Phase I-IV clinical research services, including quality assurance, statistical analysis and data management capabilities, in compliance with global guidelines. Synchron is expanding in futuristic business areas in dermatology, in vitro technologies and high throughput screening, the release added.

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