Life sciences and supply chain management provider TAKE Solutions Friday said it would acquire two US-based entities in “an all cash deal” amounting to USD 72 million.
Chennai based company, in a filing to Indian stock exchanges said with the acquisition of KAI Research, it would acquire Phase II, III capabilities in North America adding to its current service offerings in Europe and Asia.
“KAI (Research) strengthens our therapeutic expertise mental health, musculoskeletal diseases and medical devices. The target has long standing relationships with clinical sites and trusted network of service providers”, the company said om a BSE filing.
“The total consideration for this transaction shall be up to USD 27 million, including contingent payments, subject to certain financial milestones,” it said.
In another notification, the company said, it would acquire clinical functional service provider DataCeutics, a US-based firm in an all cash deal amounting to USD 45 million.
“The acquisition is expected to close by February 2019, subject to customary closing conditions,” it said.
The deal strengthens TAKE Solutions’ domain strength in data sciences specific to life sciences enabling us to partner with our clients providing much value additions.
“This acquisition also adds to the depth of our top pharma relationships in the US geography,” the company said.
Shares of TAKE Solutions ended at Rs 148 apiece, down by 0.87 per cent over the previous close in BSE.
Vision 2021
Mr. Srinivasan the founder of Take Solutions said their vision was to hit $500 million revenue mark by March 2021 from the present $200 million. “Acquisition would gives us about $100 million to $150 million revenue. Without acquisition, we can easily post revenue of $350 million.
Take Solution has an order book of $163 million, of which $151 million relates to life science and $12 million for supply chain. It would take at least seven to nine months to execute it, he said.
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