Transaction Fuels Rapid Global Expansion and Growth
Avania, a leading global medical technology CRO, today announced its acquisition of IMARC, a highly respected medical device CRO headquartered in Strongsville, Ohio and providing service 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.
“At Avania, we are focused on building a high-quality, full-service specialist medical technology CRO with global reach,” said Avania CEO Sapna Hornyak. “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,” said IMARC CEO Sandra Maddock. “Adding IMARC’s portfolio of capabilities to Avania’s will provide clients with a single-source provider of extensive, specialized medical device expertise combined with global reach.”
Covington Associates, a leading middle market investment bank, acted as exclusive financial advisor to IMARC in its sale to Avania.
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