JSS Medical Research Inc., a full-service international Contract Research Organization with corporate offices in Montreal, Canada, completed acquisition of Integrated Research Inc., a Canadian CRO located in Dollard-des-Ormeaux, Quebec.
The transaction, creating Canada’s largest contract research organization, results in the strategic merger of the two companies with IRI continuing to operate as a fully-owned subsidiary of JSS.
"This is an important milestone for JSS and IRI as well as for the Canadian Industry. The merger of JSS and IRI creates a robust and stable Canadian-based and owned CRO that has the critical mass, expertise and most importantly, experienced senior management that will offer highest quality services covering all of the scientific and operational aspects of clinical research. Now a local CRO will be able to provide the same services as the large multinationals, while maintaining the intimate client relationships that have contributed to our longevity and client loyalty over the last twenty years" stated Dr. John S. Sampalis, CEO and President of JSS Medical Research.
"For our international and global clients, the merger with IRI, in combination with the recent acquisition of Latam Clinical Trials, provides significant advantages. We now have augmented our operational and regulatory expertise across several jurisdictions and expanded the clinical research team to allow us to easily manage our local and international studies. In addition, our clients will benefit from our Quality Assurance Program which has been audited and tested by several of our global clients" said Ms. Stella Boukas, V.P. Clinical Operations of JSS.
"From a financial perspective, the synergies of JSS and IRI will provide our clients with a stronger CRO that can address all of their service needs with conservative costs. In the current CRO market where costs are an important second consideration for the selection of service providers, JSS-IRI will offer competitive pricing at uncompromised quality. At the same time the merger of the two companies will reduce overhead and other costs and will contribute to our continued financial stability and growth" stated Dr. Toni Rinow, CFO of JSS.
"Widespread adoption of outsourcing has changed the clinical services landscape over the past five years with strategic relationships with the 10 large CROs dominating the market. Smaller CROs have to adapt their business strategies to meet the changing needs of sponsors. JSS Medical Research has pursued its journey in becoming a niche provider in late phase studies by excelling in scientific methods for conducting research. We have gained strategic advantage as market leader in Post Marketing Observational Studies, Health Economic Outcome Research and a proven track record in medical writing, publications and presentations at scientific conferences. The merger with IRI will strengthen our position in Canada and provide the foundation for our continued expansion while at the same time enabling us to continue to deliver high quality research to our Canadian and international clients" said Dr. Sanjay Machado, Executive Director Global Business Operations of JSS.
"In an industry that is both dynamic and volatile, our growth strategy is driven by the demands and the needs of our clients. More specifically, our expansion in Latin America, which began with the acquisition of Latam and will continue with others in Chile, Argentina and Brazil, has resulted from the increasing requirements for epidemiological and post marketing studies by regional health authorities and payers in these regions. The merger with IRI has also been driven by the need for a Canadian CRO that can provide comprehensive high quality turnkey services to the Canadian Affiliates of International Pharmaceuticals and Canadian biotech companies. Integrated Research's philosophy with emphasis on high quality clinical operations governed by integrity and responsiveness to their clients was entirely compatible with the JSS Medical Research's vision" concluded Dr. Sampalis.