Synchron Research acquires Innovance, a start-up Ahmedabad based Contract Research Organization. The deal was facilitated by Deloitte.
Innovance has built an impressive world-class clinical research facility at Ahmedabad. This acquisition has provided Synchron an edge in offering excellent internationally accepted clinical research facility. The new clinical facility is spread over 18,000 sq.ft on a single floor, with three different volunteer housing areas. Also the facility has 14 beds state-of the-art Phase I facility. The other two volunteer housing areas has 32 beds each. This new 80 beds will be in addition to already existing 90 beds in the existing facility and 30 beds Bangkok facility, totaling to 200 beds across Asia. This makes Synchron one of the largest Asian CRO. Synchron BA/BE business has broad base loyal client franchise with repeat business with about 75% Europe/USA clients who will be further assured with this new facility offering international level clinical research facility.
This acquisition is first of its kind in CRO space in India. “Synchron is looking for more important acquisitions in India and other parts of Asia in future to increase our Asian foot-print 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.