Abt Associates announced today the sale of its wholly-owned subsidiary Abt Bio-Pharma Solutions, Inc. (ABS) to United BioSource Corporation (UBC), a global scientific and medical affairs organization that partners with life science companies to develop and commercialize biopharmaceuticals, medical devices, and other health care technologies.
The addition of ABS scientists and resources establishes UBC with the largest presence and operational reach in the New England biomedical corridor and adds to its "best in class" portfolio of scientific and medical affairs solutions to support biopharmaceutical and medical technology companies.
ABS was based in Lexington, Massachusetts and provided health economics and outcomes research, registries and observational studies, and market access solutions to the biopharmaceutical, medical device, and diagnostics industries. ABS originated in the early 1980s when Abt Associates' staff of biostatisticians, clinicians, health economists, and strategic consultants began designing, analyzing, and reporting on clinical trials for a broad variety of drugs and devices covering many therapeutic areas. It developed into the Abt Associates Clinical Trials division and in 2008 it was renamed and established as a wholly-owned subsidiary of Abt Associates.
Abt Associates President and Chief Executive Officer Kathleen Flanagan stated, "After building ABS into a respected player in its field, we are gratified to see our colleagues join a company that shares our values and can realize even greater potential. At UBC, there will be new resources and increased reach that translates into new opportunities for our clients to support their products."
"The scientists and capabilities that we gain with ABS are an excellent fit with our strategy," said Ethan Leder, CEO of United BioSource Corporation. With this acquisition UBC further expands its industry-leading team of senior experts in comparative effectiveness and comparative value; increases its registry and observational study practices; and reinforces its commercial strategy and market access capabilities.
Cain Brothers & Company, LLC acted as the financial advisor to Abt Associates in connection with transaction.
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