Following the global trend of consolidating market positions of clinical research organizations (CROs), Optimapharm, a leading CRO in Southeastern Europe, acquired the Czech-based CRO MKS Research.

By acquiring MKS Research, Optimapharm will enter the Czech market, and further strengthen its portfolio of clients in the pharmaceutical and biotech industries and its market position in Central Europe. The company says the acquisition is in line with its medium-term strategic objective of becoming the largest independent CRO in Central and Eastern Europe, with business operations across Europe and the U.S.

“The clinical research market is experiencing a continued growth and we have the knowhow, references and strong financial position enabling us to lead the consolidation in the region,” said Gordana Greguric Cicak, chief executive officer, Optimapharm. “Moreover, our ambition is to double our revenues over the next three years, and continue acquiring good-quality companies such as MKS Research.”

By consolidating MKS Research, Optimapharm will have a total of 120 full-time employees and annual revenues over €12 million. Optimapharm is headquartered in Zagreb, Croatia, and has offices in more than ten European countries. It covers markets with over 200 million people and has the expertise to conduct phase I – IV clinical research across Europe and through partners in the U.S.

“We are becoming a part of a much larger company with structured operational support. This means that we will be better able to focus on projects and growth in the Czech and Slovak markets, while our employees will have more opportunities to develop their careers within an international group and work on more complex projects,” said Veronika Sebkova, executive director, MKS Research.

The value of the global clinical research market has been growing in the last several years at annual rates of more than 10%. In 2016, it reached $31.4 billion. It is expected to reach $49.26 billion in the 2017-2021 period (New Market Research Report, December 2017). The biggest market is the U.S., accounting for 40% of the global market, with Europe being the second largest.