Battelle Memorial Institute Acquires CareStat, Inc., A Massachusetts Organization Specializing In Clinical Trials Research
COLUMBUS, Ohio, Oct. 24 /PRNewswire/ -- Battelle announced today the acquisition of CareStat, Inc., of Newton, Massachusetts, a leader in clinical trial research and consulting. CareStat has become a wholly owned subsidiary of Battelle and will be renamed Battelle CRO, Inc.
Although terms of the agreement were not disclosed, the acquisition represents a significant commitment for Battelle, said Steven McLaughlin, Senior Vice President and General Manager of Battelle's Health and Life Sciences Division.
"This acquisition allows us to expand our existing capabilities in the pharmaceutical, biotech, and medical device industries," McLaughlin said. "By combining the strengths of CareStat's clinical trial excellence with Battelle's resources, we can now provide the full range of drug discovery and development services to support our government and industrial clients."
This includes services provided throughout the product development life- cycle of discovery, early pre-clinical development, pre-market regulatory submissions, clinical trials, FDA approval, and post-marketing surveillance.
Battelle's Health and Life Sciences Division currently has an annual business volume of about $150 million and hopes to almost double that over the next five years.
"We're excited about the opportunities this acquisition affords us. We can now offer our customers one-stop shopping from a menu of options for healthcare product development," said Howard Golub, President of CareStat.
BattelleCRO will retain the CareStat management team and operations center in the Boston area. McLaughlin will become chairman of its five-member board of directors.
CareStat, founded in 1996, is a 100-person full service contract research organization with broad expertise in the planning, execution and interpretation of clinical trials. The professional staff has a great depth of experience in medical, corporate, academic, and regulatory arenas across a wide range of disciplines.
Battelle is a global leader in science and technology. Headquartered in Columbus, Ohio, it develops and commercializes technology and manages laboratories for customers. Battelle, with the national labs it manages or co-manages, oversees 19,000 staff members and conducts $2.9 billion in annual research and development. Battelle innovations include the development of the office copier machine (Xerox), pioneering work on compact disc technology, medical technology advancements, and fiber optic technologies.
For more information, visit http://www.battelle.org or contact National Media Relations Manager Katy Delaney at (410) 306-8638 or at delaneyk@battelle.org.
BattelleCONTACT: Katy Delaney of Battelle, +1-410-306-8638, ordelaneyk@battelle.org
Web site: http://www.battelle.org/