hVIVO plc (LON:HVO), a fast-growing early-stage Contract Research Organisation (“CRO”) and the world leader in human challenge clinical trials, has announced that it has acquired two Clinical Research Units from CRS Clinical Research Services Management GmbH (“CRS”), a German full-service early-phase CRO which provides early clinical development services, including first-in-human and proof-of-concept trials. The Acquisition has been completed for a cash consideration of €10.0 million, wholly funded from the Group’s existing cash resources (£44.2 million (unaudited) as at 31 December 2024).
Outlook for 2025 and 2026
· CRS is a German based full-service early-stage clinical development CRO
· First step in hVIVO’s M&A strategy and further diversifies hVIVO’s services to include in-patient Phase I and Phase II trials across a broader range of therapeutic areas
· Establishes a significant footprint in Europe with 120 beds across two sites in Germany
· Total consideration of €10.0 million in cash, funded from hVIVO’s existing cash resources
· The two units being acquired recorded revenue of €19.9 million in 2024 (unaudited) and €18.6 million in 2023
· Acquisition expected to be earnings accretive in 2026
· Enlarged Group weighted contracted orderbook of £67 million as at 31 December 2024* following record delivery of £62.7m revenue by hVIVO in 2024