Avania, a medtech-focused Contract Research Organization (CRO) headquartered in the Netherlands, has extended its industry expertise through the strategic acquisitions of Hull Associates and Ironstone Product Development.
These acquisitions are integral to Avania’s overarching strategy of enhancing its value chain capabilities, focusing on areas such as engineering design, product development, and market access. While specific financial terms have not been disclosed, these acquisitions signify a significant step in Avania’s journey of expansion and diversification.
Hull Associates, based in Boston, is renowned for its consultancy services, particularly in the fields of market access and reimbursement, spanning regions such as the United States, Europe, Latin America, Japan, India, and China. The company also brings a wealth of experience in diverse areas, including evidence planning, data analytics, health economics, pricing analysis, assessment and validation of clinical trial designs, as well as post-launch services. Avania recognizes Hull Associates as a valuable addition to its growing portfolio of capabilities.
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On the other hand, Toronto-based Ironstone specializes in supporting clients in medical and health product development and commercialization. This involves ensuring quality control and providing regulatory support in various domains, including medical robotics, AI/machine learning, imaging, respiratory devices, in vitro diagnostics, and wearables.
“The addition of Hull Associates and IPD furthers our vision of becoming a trusted global partner for the MedTech community, advancing innovations from bench to bedside, improving patient outcomes globally, and will provide us with enhanced capabilities to bring comprehensive, highly customized solutions to every partnership as we continue to lead the MedTech CRO segment as a preferred life cycle partner.”
– Sapna Hornyak, president and CEO of Avania
This strategic dual acquisition comes on the heels of Avania’s earlier move in February, when it acquired Maxis, a medtech service provider, for an undisclosed amount. These successive acquisitions reflect Avania’s commitment to strengthening its position in the medtech industry and serving its partners with tailored and comprehensive solutions.
