Diamond Pharma Services (“Diamond” or “the Company”), leading technical services and regulatory affairs consulting group, today announced its pharmacovigilance division, Diamond PV Services, has acquired PharmaCentral (https://pharmacentral.ie/), an innovative pharmacovigilance services and medical affairs business based in Dublin, Ireland.
The acquisition will expand Diamond’s presence in Europe and enhance the senior-level expertise within its pharmacovigilance team.
PharmaCentral offers a wide range of pharmacovigilance consultancy services, based on a wealth of experience in pharmacovigilance and medical affairs in both pharma and CRO environments.
The acquisition of PharmaCentral forms part of Diamond’s growth strategy for its pharmacovigilance division, which has achieved a Compound Annual Growth Rate (CAGR) in revenues of 27% over the last three years.
This rapid expansion of Diamond’s pharmacovigilance senior-level team is required to support clients from Diamond’s regulatory affairs business in specialist areas such as gene and cell therapies.
Diamond Pharma Services provides Regulatory Affairs, Pharmacovigilance, and Compliance & Quality services to support pharmaceutical and biotechnology companies in obtaining and maintaining medicinal product licenses throughout all stages of a product’s life cycle.
Diamond will continue to expand its presence in Dublin through 2020, with recruitment across all three of its divisions.
We have seen strong organic growth over the last three years, which has driven us to evaluate our resources, including our in-house expertise, processes, and systems. This acquisition will help support the next phase of growth, representing a step-change in our senior team. Having worked closely with PharmaCentral over the past year I am confident that they share our culture of flexibility, quality, and accessibility, and am hugely excited that they are joining Diamond to deliver our shared vision of helping our clients manage their regulatory responsibilities in a constantly evolving environment.”
David Boyd, Managing Director, Diamond PV Services Ltd
This is an incredibly meaningful milestone for PharmaCentral. The cultural fit we have found between the two businesses, and our shared views on the growth areas within pharmacovigilance have created synergistic opportunities for both companies. PharmaCentral has spent a number of years building strong customer relationships and a reputation for quality. Together we will capitalise on those strengths to significantly increase our capabilities and service offerings. The PharmaCentral team is excited to join Diamond Pharma Services and we look forward to the future.”
Catherine Kenny, Co-founder of PharmaCentral LLP