Ergomed subsidiary PrimeVigilance enters US market and opens office in Boston, USA
US base gives PrimeVigilance the presence needed to support its current North American clients
Ergomed, a profitable UK-based group dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, announces the establishment of a new US office for its subsidiary group, PrimeVigilance.
The new office in Waltham just outside Boston (MA, USA) opens in July 2016 and will become the US base for PrimeVigilance, one of Europe’s leading pharmacovigilance and medical information service providers.
This US base gives PrimeVigilance the presence needed to support its current North American clients and to further develop relationships with new clients looking for US services as well as for US clients looking to enter the European and international markets.
In 2015, Ergomed’s pro forma revenues grew by 27% to £30.2m, winning £28m in new contracts with a £59m contracted backlog as at 1 January 2016.
PrimeVigilance’s revenues grew 47% to £8.3 in 2015. Pharmacovigilance is a large and fast growing market, expected to reach $5bn in the next 5 years.
Dr Miroslav Reljanovic, Chief Executive Officer of Ergomed, said: ‘The opening of this US office marks an important step in our strategy, as stated at our IPO, to grow our profitable services business both through geographic expansion and selective acquisitions to add complementary services. We can now offer our US customers pharmacoviligance and medical information support in the US as well as the rest of the world.’
Neil Clark, PrimeVigilance CEO, added: ‘We welcome our new employees in the US and look forward to working with our existing clients and building new relationships. The North American market is a key growth area for PrimeVigilance and we are excited about the potential for our business.'
