ACM Global Central Laboratory (ACM Global), a diagnostic central laboratory specializing in delivering high quality testing services which optimize clinical trial outcomes, today announced it has acquired Phoenix Pharma Central Services Pte. Ltd (Phoenix PCS), a premier central laboratory services provider for Asia Pacific clinical trials, with laboratory facilities in Singapore and Shanghai, China. The acquisition enables ACM Global to deliver increased operational and financial efficiencies to clients conducting clinical studies in the Asia Pacific region. Terms of the transaction were not disclosed.
Working with partner labs in India, Australia and China, ACM Global has successfully provided central laboratory services in Asia Pacific for more than 15 years. By acquiring Phoenix PCS, ACM Global gains an established, fully-operational lab in the heart of Singapore that offers its clients a local team with extensive clinical trials experience and knowledge of regional regulatory requirements, country specific logistics, and familiarity with customs and local languages. Additionally, ACM Global will acquire Phoenix PCS' brand new laboratory facility in Shanghai, China. With two laboratory locations in Asia Pacific, ACM Global is able to provide local support of clinical trials throughout the region with increased speed and efficiency.
"This acquisition is a major milestone in our organization's growth and represents a significant investment and commitment to the region," said Angela J. Panzarella, president of ACM Medical Laboratory, Incorporated, the parent company of ACM Global Central Laboratory. "We have a long and successful history of working with partner labs in Asia, but as part of our commitment to providing robust global capabilities, operational and scientific expertise and unsurpassed service to our customers, it was important for us to establish a network of ACM Global-owned and operated labs in the Asia-Pacific region, which we see as an increasingly important region for clinical research. We are extremely pleased to be gaining the expert staff, state-of-the-art facilities and local knowledge that Phoenix PCS provides."
Established in 2001, Phoenix PCS is a highly respected central laboratory in Asia offering services for Phase I to Phase IV clinical trials, and has been accredited by the College of American Pathologists (CAP) since 2003. The company has an experienced staff with extensive knowledge of clinical trial operations, Asian cultures and regulatory requirements, and is well positioned to provide support to pharmaceutical and biotechnological industries in the development of drugs and medical devices. The founder and CEO of Phoenix PCS, Chiew Yan Lee, PhD, FRCPath, has more than twenty years' experience in central laboratory operations within the Asia-Pacific region. Dr. Lee will continue to manage the operations in Singapore and Shanghai as Director, Singapore and Shanghai Operations.
"We are excited to be joining the ACM Global team," Dr. Lee said. "My staff and I have worked very hard to create a central lab that values high quality services above all else and feel our experience, knowledge, and focus on client service fit very well with ACM and its core values. With the resources and opportunities available through ACM, we can further enhance our core services and provide even greater value to our clients, partners, and suppliers. We are looking forward to being a part of ACM's ongoing growth and success, both in the Asia-Pacific region and globally."
The ACM Singapore facility is located just five minutes from the Singapore International Airport and the city's logistics hub. The laboratory in Shanghai is a brand new facility that has been purpose designed to optimize the company's laboratory processes. Both laboratories will be equipped with ACM's standard technology platforms and instrumentation to enable seamless integration with ACM Global's operations in the United States, United Kingdom, and India, resulting in a single global database with harmonized test data for all global projects.
SOURCE ACM Global Central Laboratory