Kester Capital portfolio company Avania acquires IMARC
Avania, a, global medical technology CRO, and a portfolio company of Kester Capital, has acquired IMARC, a medical device CRO providing services throughout the United States.
IMARC brings more than two decades of full-service clinical research oversight to its clients, including monitoring, auditing, safety, data management and training. This acquisition by Avania is the fourth under Kester’s ownership and will accelerate the global expansion of the business.
Sapna Hornyak, Avania’s CEO, says: “At Avania we are focused on building a high-quality, full-service specialist medical technology CRO with global reach. We are delighted to welcome the IMARC team, with whom we have had the pleasure of collaborating for some time. They bring a great commitment to client service and outcomes and allow us to offer our clients additional depth and strength in the United States, complementing our existing global operations perfectly.”
IMARC clients will benefit from Avania’s extended international footprint, gaining access to the company’s extensive network in the EU and Australia. Additionally, Avania brings enhanced services to the combined companies — including biostatistics, strategic consulting, regulatory, and medical writing.
“Avania’s geographic and therapeutic area strengths make them the perfect strategic complement to IMARC,” says Sandra Maddock, CEO of IMARC. “Adding IMARC’s portfolio of capabilities to Avania’s will provide clients with a single-source provider of extensive, specialised medical device expertise combined with global reach.”
Adam Maidment, Managing Partner of Kester Capital, says: “This latest acquisition cements Avania’s position as the leading, global medtech focused CRO. The market dynamics for Avania remain extremely positive and we are excited about the growth prospects for the business both organically and through further, strategic acquisitions.”