Comprehensive M&A data with integrated detailed company information

Take to pick up KAI
Posted on Friday, 11 January 2019 15:23
India’s Take Solutions, in a move to expand its presence into North America, is buying US-based contract research and health research company KAI Research for USD 27.00 million in cash.

The transaction, which will add to the buyer’s existing operations across Europe and Asia, is subject to the usual raft of closing conditions and is expected to complete in January 2019.

Under the terms of the acquisition, the consideration includes earn out payments dependant on certain financial milestones being achieved.

Formed in 1986, KAI provides research and organises clinical trial management within four key therapeutic areas; neurology, mental health, musculoskeletal conditions and infectious diseases.

As well as its clinical study expertise, it also provides data management and pharmacovigilance, which monitors for adverse reactions in drugs after being licensed for use.

It serves government entities such as the Department of Defence, National Institute on Drug Abuse and the Uniformed Services University of the Health Sciences.

In the financial year ended 31st December 2017, it posted revenue of USD 10.50 million, an 18.0 per cent increase on USD 8.90 million in the corresponding period of 2016.

As a result of the deal, Take will increase its presence within the therapeutic industry as well as gaining access to KAI’s established network of clinical sites and service providers.

The target will slot alongside the buyer’s existing business- Navitas Life Sciences- which as part of its operations, provides clinical trial studies for medical departments such as gastroenterology, neurology, infectious diseases and dermatology, among others.

India-based Take specialises in full-service clinical, regulatory and safety services for clients within the life sciences and supply chain management industry.

It has a vast network of sites across four continents, and for the financial year ended 31st March 2018 it posted sales of INR 1.60 billion (USD 22.72 million), up from INR 1.30 billion in the same period 12 months earlier.

According to Zephyr, the M&A database published by Bureau van Dijk, there were 347 deals targeting business support services providers announced worldwide in 2018.

The Hearst Corporation, in the only transaction to surpass USD 2.00 billion, bought US-based credit ratings agency operator Fitch for USD 2.80 billion.

Other companies targeted in this sector last year include Aimia Canada, Intelent Global Services, Gordian and RPX.

© Zephus Ltd