Business

March 11, 2014

Clinipace Worldwide acquires Asian company

Rapidly expanding Clinipace Worldwide has expanded its overseas operation with the acquisition of Asia-based Choice Pharma. Financial details weren't disclosed.

Rapidly expanding Clinipace Worldwide has expanded its overseas operation with the acquisition of Choice Pharma, a 120-employee company based in Hong Kong. Financial details weren’t disclosed.

The acquisition, Clinipace’s fifth in recent years, gives it new offices in Taiwan, China, Hong Kong, South Korea, Vietnam, Singapore and Malaysia. And it pushes its workforce to 640 employees in 30 countries.

Choice Pharma’s managing director, Chris Wang, will manage day-to-day operations in Asia and report to Clinipace CEO Jeff Williams.

Clinipace is a contract research organization that helps pharmaceutical and biotechnology companies test experimental drugs. The company’s workforce expanded by 50 employees last year.

Williams said in a statement that the acquisition of Choice Pharma was a response to “high demand by clients for operations in Asia.” He added that Choice Pharma has “a great reputation for quality and an experienced management team.”

Staff writer David Ranii

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