hVIVO’s Acquisition of Cryostore: A Strategic Move for its hLAB and Biobank Business
In a recent development, hVIVO PLC (AIM:HVO), a leading contract research organization (CRO) specializing in clinical trials, announced its acquisition of Cryostore, a specialist cryobanking company. This strategic move, according to Peel Hunt and Stifel, is expected to significantly boost hVIVO’s growing hLAB and biobank business.
Background
hVIVO, with its headquarters in London, is known for its focus on professional, educated, and profit-driven services in the clinical trials sector. It offers a range of services, including study design, site management, data management, and biomarker analysis. The company processes over 85,000 samples a year and stores more than 500,000, making it a significant player in the industry.
The Acquisition of Cryostore
Cryostore, based in the United Kingdom, is a specialist cryobanking company that provides services to the pharmaceutical, biotechnology, and academic sectors. It offers a range of services including sample collection, storage, and distribution. The acquisition of Cryostore by hVIVO is expected to strengthen hVIVO’s position in the growing hLAB and biobanking market.
Impact on hVIVO
- Expanded Service Offerings: With the acquisition of Cryostore, hVIVO will now be able to offer a more comprehensive range of services to its clients. The addition of cryobanking capabilities will allow hVIVO to store and distribute samples, providing a one-stop solution for clinical trials.
- Increased Capacity: Cryostore’s state-of-the-art facilities and advanced technologies will enable hVIVO to store and process a larger volume of samples, further enhancing its capabilities.
- Enhanced Expertise: The acquisition of Cryostore will bring additional expertise in cryobanking to hVIVO, enabling the company to offer more specialized services to its clients.
Impact on the World
- Advancements in Medical Research: The acquisition of Cryostore by hVIVO is expected to contribute to advancements in medical research by providing more efficient and effective solutions for storing and processing clinical trial samples.
- Increased Competition: The acquisition is also likely to increase competition in the hLAB and biobanking market, as hVIVO will now be able to offer a more comprehensive range of services to its clients.
- Improved Patient Care: By streamlining the process of storing and processing clinical trial samples, hVIVO’s acquisition of Cryostore is expected to lead to improved patient care, as researchers will have access to more accurate and reliable data.
Conclusion
hVIVO’s acquisition of Cryostore is a strategic move that is expected to significantly boost hVIVO’s growing hLAB and biobank business. The addition of cryobanking capabilities will allow hVIVO to offer a more comprehensive range of services to its clients, increasing its capacity and expertise in the field. The impact of this acquisition extends beyond hVIVO, as it is expected to contribute to advancements in medical research, increase competition in the hLAB and biobanking market, and improve patient care.
Overall, this acquisition is an exciting development for the clinical trials industry and is a clear indication of hVIVO’s commitment to providing professional, educated, and profit-focused services to its clients. As the industry continues to evolve, it is likely that we will see more strategic moves like this one, as companies look to differentiate themselves and stay competitive in the market.
