Avania, a global medical technology contract research organization (CRO), has acquired IMARC, a medical device CRO based in Strongsville. IMARC brings more than two decades of full-service clinical research oversight to its clients, including monitoring, auditing, safety, data management, and training.
Avania CEO Sapna Hornyak said in a statement, “We are delighted to welcome the IMARC team, with whom we have had the pleasure of collaborating for some time. They bring a great commitment to client service and outcomes and allow us to offer our clients additional depth and strength in the United States, complementing our existing global operations perfectly.”
IMARC clients should benefit from Avania’s extended international footprint, gaining access to the company’s extensive network in the EU and Australia. Additionally, Avania brings enhanced services to the combined companies — including biostatistics, strategic consulting, regulatory, and medical writing.
“Avania’s geographic and therapeutic area strengths make them the perfect strategic complement to IMARC,” said IMARC CEO Sandra Maddock. “Adding IMARC’s portfolio of capabilities to Avania’s will provide clients with a single-source provider of extensive, specialized medical device expertise combined with global reach.”
Covington Associates, a middle-market investment bank, acted as exclusive financial adviser to IMARC in its sale to Avania.