- 28.5% Y-o-Y growth in revenue & 11.6 % in profit
- Acquires KAI Research, a US based niche full service CRO serving Federal agencies like FDA, NIMH, Department of Defence etc.
Chennai, May 19, 2019: TAKE Solutions Ltd. [BSE: 532890 | NSE: TAKE], a globally recognized domain intensive services provider in Life Sciences, today announced its financial results for Q4 and year ended FY19. The company reported FY19 revenues of INR 20,390 Mn, a 28.5% growth over the previous year.
Total income rose 17.6% to INR 5,339 MN in Q4FY19 as compared to INR 4,539 Mn in Q4FY18. Earnings before Interest, Depreciation and Tax (EBIDTA) for Q4FY19 stood at INR 811 Mn, lower by 10.4 % against INR 905 Mn in Q4FY18. TAKE Solutions also announced the acquisition of KAI Research, a full-service contract research organization (CRO) and health-research company.
Key Highlights:
- Revenue at INR 20,390 Mn; growth of 28.5% Y-o-Y
- Augmented Clinical Data Services offerings through acquisition of high-end data sciences company DataCeutics
- Augmented talent pool with addition of xx domain experts
- Added 6 senior leaders to the global team
- Enhanced 3 technology IPs including pharmaREADY, and traceREADY
- Built up further capabilities to OneClinical our eClinical platform
- Developed 16 bioanalytical methods
- Expanded capacity by moving to larger facilities in Princeton and Bangalore
- Inaugurated new dossier printing facility in Chennai
KAI brings on board top of class offerings in 3 key areas – Clinical Trial management, Clinical Research Consultation, and Data Management & Standardization. Through this acquisition, TAKE builds Phase II and Phase III capabilities in North America adding to its current service offerings in Europe and Asia. KAI strengthens TAKE’s therapeutic expertise in mental health, musculoskeletal diseases, CNS, infectious diseases, Oncology and medical devices. The company has differentiated offerings by way of patient registries and e-clinical solutions and a long-standing relationship with clinical sites and trusted network of service providers.
Srinivasan H R, Vice Chairman and Managing Director, TAKE Solutions said, “TAKE recorded a positive growth rate this year to 28.5% (INR 20,390 Mn) with continued strong performance in the life sciences business. We will continue to invest ahead of the growth curve to position us as the most preferred business partner for global pharmaceuticals.
Speaking on the acquisition, he further added, “We are on track in terms of our acquisitions, KAI Research will further strengthen our capabilities in clinical servicesand expand our therapeutic expertise. Through this acquisition we also gain a unique standpoint in serving Federal agencies like FDA, NIMH, Department of Defence etc. Together, we intent to create a world class enterprise making meaningful strides in the bio pharma landscape. The addition of KAI’s capabilities translates to business expansion in North America, Europe and Asian markets and enhances our global footprint.”
Benefits of the acquisition:
Clinical Delivery capability synergies
- Global clinical operations Offering by leveraging KAI’s strong delivery capabilities in USA
- Augment domain expertise and improve quality of delivery with KAI’s strong domain strength and consulting capabilities
Augmented Client Base
- Added ability to conduct long-term and large-ticket federal studies through KAI’s strong client base of federal agencies
- Pitch for Larger Clinical Deals with addition of sites and local clinical trial management capabilities in USA
- Expand market reach to attract North American SMEs with KAI’s expertise in the growing biotech market
Corporate Comm India(CCI Newswire)
