Ascentia Biomedical announces shift to biomedical arbitrage, development

By Elaine Rigoli

Tampa, Fla., May 30 - Ascentia Biomedical Corp. announced that as a part of its new business model, the company will purchase profitable dedicated clinical research organizations and integrate them into a national branded research organization.

Ascentia said it expects that the clinical research organization will provide the capacity and resources to develop preclinical contract research through Ascentia Biomedical Technologies, Inc.

Clinical research organizations provide independent product development services primarily for the pharmaceutical, biotechnology and medical device industries. Companies in these industries outsource product development services to clinical research organizations in order to manage the product development process more efficiently and cost-effectively, and to maximize the benefits in time and profit of patient-protected products.

The company said it has a letter of intent to purchase its first profitable clinical research organization located in the Southeastern United States.

Additional acquisition candidates have been identified and early discussions are in progress with company representatives, according to a news release.

A successful conclusion to the first two acquisitions would provide Ascentia with annual profits of $5 million, the release said.

Ascentia is a biomedical development company located in Bellevue, Wash.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.