The Banook Group, specialized in cardiac safety, clinical imaging and endpoint adjudication, today announces the acquisition of nabios GmbH (Munich). With this first external acquisition, the Banook Group becomes a European leader in the booming cardiac safety services market and in clinical endpoint data solutions.
nabios was founded in 1998 and has developed a strong expertise in cardiac safety assessments in clinical trials of drugs intended for human health. It supports pharmaceutical companies, Contract Research Organizations (CROs) and Clinical Pharmacology Units (CPUs), primarily in the conduct of Phase 1 clinical trials. nabios has a number of preferred provider partnerships, mostly based in Germany, including two of the top 20 big pharma companies and several Phase 1 units.
“We are excited to welcome nabios as part of the Banook Group. With this acquisition, our customers will have access to new and more competitive services,” said Pascal Voiriot, president, and Alexandre Durand-Salmon, CEO, of the Banook Group. “This acquisition will help us become the leader in the cardiac safety market in Europe, by offering a strong European alternative to those companies operating from North America or India.”
While becoming a part of the Banook Group, nabios will retain its current name built on its strong reputation. The Banook Group will strengthen its teams in Munich to enhance their presence in Central and Eastern Europe.
“Joining the Banook Group is a great opportunity for growth for us. We both share a common history and uphold the same vision for the healthcare of tomorrow,” said Gerda and Valentin Demmel, founders of nabios. ”Like us, the Banook Group started out as a small family business and has successfully maintained its DNA and legacy over the years. By sharing these values, we saw a good opportunity to engage on a deeper level and create a stronger company.”
This acquisition will enable the Banook Group to secure gains in competitivity and strengthen its ability to answer larger calls for proposals within the European and worldwide markets. The partnership aims to create a powerful cluster in Europe, whilst maintaining flexibility, efficiency and high-quality levels for companies worldwide. Banook will accelerate operational scale up and investments in research, to promote innovative endpoint solutions – within an evolving market.
The cardiac safety services market was valued at $442 million (€373.5M) in 2019. It is expected to reach $752 million (€635.5M) by 2024, which represents a CAGR of 11.2%. The global market is divided into three major regions: North America, Europe and Asia-Pacific. Market growth is mainly driven by the growing R&D expenditure within the biopharmaceutical industry, the augmentation of R&D outsourcing activities and the increasing number of clinical trials. The introduction of new technologies and methods are expected to provide a wide range of growth opportunities in this market.