Aptiv Solutions, the US-based provider of biopharmaceutical and medical device development services created through the merger of six companies last February, has acquired SRA Global Clinical Development (GCD), the contract research division of SRA International, for an undisclosed sum.
SRA, which provides technology and strategic consulting services/solutions to government organisations and the commercial sector, said its contract research business was a better fit with Aptiv’s strategic objectives.
The former acquired the business, which supplies product development services such as strategic consulting, regulatory affairs, clinical trial services, data sciences and medical writing, across North America and Europe, along with Constella Group in August 2007.
SRA’s headquarters are in Fairfax, US and its contract research division also has offices in Paris, France and Milton Park, UK. Before being taken over by SRA, Constella had built up the contract research operation by itself acquiring Resource Solutions in 2003 and both Origin Pharmaceutical Services and Lineberry Research Associates in 2006.
A Form 8-K filing with the US Securities and Exchange Commission (SEC) in April, though, noted that on 30 March 2011, SRA had decided to either divest or significantly restructure its Era Systems Corporation subsidiary and to divest SRA Global Clinical Development and its wholly owned subsidiaries.
Two days later (1 April 2011), SRA announced a definitive agreement to be acquired by an affiliate of Providence Equity Partners for around US$1.88 billion.
Reporting its third-quarter results that same month, SRA said the planned sale of GCD was consistent with its “primary focus on delivering information technology and strategic consulting services and solutions to its US government customers”.
The contract research business ran up net losses of US$1.3 million and US$1.1 million respectively for the third quarter and nine months ended 31 March 2011.
Aptiv said the GCD regulatory consulting team based near London added significantly to its own “well-established and highly regarded” regulatory services group. Moreover, the influx of talent from GCD would accelerate Aptiv’s global leadership in regulatory services.
“We are delighted to welcome the roughly 100 SRA GCD experienced professionals to the Aptiv Solutions team,” commented Aptiv chairman and chief executive officer (CEO) Pat Donnelly. “Assimilation of staff into Aptiv Solutions is already under way, and our primary focus will be to continue to provide best-in-class service to the current SRA GCD clients.”
According to president and CEO Bill Ballhaus, SRA believes “the GCD business, as a part of Aptiv Solutions, has greater opportunity to pursue a wider range of initiatives that align with its mission”.