Hughes Hubbard & Reed advised Chiltern, a leading global contract research organization headquartered in the UK, in the acquisition of Pennsylvania-based Theorem Clinical Research.
The deal closed on Sept. 11, 2015. Terms of the transaction were not disclosed.
The acquisition strengthens Chiltern's position as the largest mid-sized provider of comprehensive, yet flexible and responsive, clinical development services. It also broadens Chiltern's therapeutic expertise and establishes new capabilities in medical device and diagnostics, clinical analytics and clinical supplies.
"By bringing Chiltern and Theorem together, we have created a unique, mid-sized research partner focused on providing exceptional scientific expertise and personal service," Chiltern CEO Jim Esinhart said in a press release. "Clients can expect the same high level of service, now with expanded capabilities. Senior leadership will still be involved in running trials."
The acquisition increases Chiltern's employees from 2,200 to 3,700 across 47 countries, with a bigger footprint in Europe, North America and Asia-Pacific.
Chiltern has three specialized business units: Chiltern Biopharma, with expertise in respiratory, anti-infectives/vaccines, ophthalmology, dermatology and other specialty areas; Chiltern Oncology, which manages all phases of hematologic and oncologic clinical drug development; and Chiltern Source, a Functional Service Provider offering resourcing and staffing solutions.
Theorem, headquartered in King of Prussia, PA, is focused on analytic-based development, combination trials and personal data applications to simplify complex trials.
Jim Modlin and David Schwartz led the Hughes Hubbard team, which included Andy Braiterman, Bill Kolasky, Freddie Goudie, Steve Greene, Alain Vincent, Nadine Voisin, Erin DeCecchis, Cyrille Gaucher, David Gold, Alexis Robinson, Justin Cohen and Carol Remy.