was formed to acquire leading Phase I contract
research organizations (“CRO’s”). The
first acquisition of CRS, PRACS Institute, is headquartered in Fargo,
North Dakota and is serving the pharmaceutical, biotechnology and
skin care industries including the leading generic and innovative
pharmaceutical companies with full service on-site clinical, bioanalytical
and data management capabilities.
January 2006
The CRO (Contract Research Organization) industry
is expected to experience significant growth and is a compelling
buy and build opportunity because of (i) greater research and development
investments made by large pharmaceutical and biotech companies, (ii)
continued penetration of the outsourced research services business
model, (iii) growth of generic products, (iv) intensified focus among
sponsors to reduce total drug development expenses by performing
more rigorous pre-clinical and Phase I testing, and (v) fragmented
industry dynamics with over 1,000 CRO's worldwide.
: Contract Research Solutions will execute
a buy and build strategy focused on acquiring best-in-class Phase
I CRO's while maximizing the potential of ancillary revenue opportunities
(bioanalytical, data management, etc.), and deploying its technology
and process platform among acquired entities to further maximize
profitability and customer satisfaction.
