AAIPharma Strengthens South American Operations through Acquisition of Instituto de Pesquisa Clinica de Sao Paulo, Ltd.WILMINGTON, N.C.--(BUSINESS WIRE)--May 17, 2007 - AAIPharma Inc. announced today that it has completed the acquisition of Instituto de Pesquisa Clinica de Sao Paulo, Ltd. (IPCSP), a contract research organization providing clinical development services in Brazil. The acquisition of IPCSP combined with AAIPharma's existing operations in Argentina and Peru provides the Company critical mass in South America and a platform for continued growth in this region.
"Expanding AAIPharma's presence in Brazil is important for our customers who want access to the substantial South American patient populations," said Ludo Reynders, Ph.D., AAIPharma president and CEO. "Brazil is a highly populous gateway to South America which is a key region for the continued growth of clinical development worldwide. With the highly trained clinical research professionals from IPCSP and their network of physicians, AAIPharma can offer pharmaceutical and biotech customers broader reach for their large multinational trials."
IPCSP has extensive experience managing phase I-IV clinical trials across a wide range of therapeutic areas. The Company's service offerings include medical and clinical monitoring, project management, regulatory affairs, pharmacovigilance, clinical supplies, drug importation, drug storage, drug distribution, and sample exportation, among others.
"AAIPharma's global presence and experience will create significant value for our customers," said Andrea Saud Martinez, Pharm.D., M.Sc., IPCSP founder and CEO, who will become General Manager of AAIPharma's South American Operations. "We look forward to enhancing our breadth and depth of services, and remain focused on continued growth throughout South America."
The terms of the transaction were not disclosed.
AAIPharma Inc. is a global provider of product development and support services to the pharmaceutical, biotechnology and medical device industries. From a single test through a range of integrated service offerings, we create value to an industry in search of productivity and innovation. For more information on the Company, please visit AAIPharma's website at www.aaipharma.com.
Luke Heagle, Corporate Communication, 910-254-7066
Posted: May 2007