Deal will bolster ClinTec’s established CRO presence in India.
Elephant Capital, a London AIM market-listed private equity firm, is investing £8 million in ClinTec, a U.K.-based clinical research organization (CRO) with operations worldwide. Managing partner of Elephant Capital, Gaurav Burman, and director, Jim Hauslein, have also made personal co-investments in this transaction.
Elephant focuses on differentiated businesses that are able to leverage the potential India holds as an emerging economy. Elephant believes that with its established presence and as one of the first players in the clinical research services arena in India, ClinTec is such a company.
Elephant Capital will leverage its network in India and internationally to aid the further expansion of ClinTec operations in that country. The partnership will also facilitate expansion into the Asia Pacific region with ClinTec’s Bangalore office serving as the regional hub for clinical research activity.
President and CEO, Rabinder Buttar, Ph.D., founded ClinTec in 1997. It has a presence in over 40 countries, covering Western Europe, Central and Eastern Europe, the Middle East and North Africa, Central and South Africa, Latin America, Asia Pacific, and the U.S.
“For more than a decade, ClinTec’s highly experienced teams across the globe, supported by expert country managers, have been driving the growth of our organization,” comments Dr. Buttar. “ClinTec provides high-quality clinical research services and resourcing solutions to clients, who include 11 of the top 25 global pharmaceutical companies, plus innovative biotech and medical device companies,” he continues.
“As the pharmaceutical and biotech industry shifts its drug development efforts to the emerging markets, ClinTec will partner with its clients in a flexible way, exactly aligning its services and operations to fit with the needs of its clients.”