PROPHARMA ANNOUNCES ACQUISITION OF UK-BASED DIGITAL LAB CONSULTING
TO EXPAND R&D CAPABILITIES AND ACCELERATE PRODUCT DEVELOPMENT
RALEIGH, NC, January 25, 2023: ProPharma Group (ProPharma) the leading global provider of regulatory, clinical, and quality services for the life sciences industry, announces the acquisition of Digital Lab Consulting (DLC) – a global premier advisory company specializing in digital transformation expertise and innovative solutions for life sciences organizations.
The acquisition sees ProPharma further expand its global capabilities with the UK-based firm working across its full portfolio. Through the acquisition, ProPharma immediately expands its foundation of R&D technology services to include digital transformation, strategic roadmap development, system selection and high-level business analysis consulting. DLC has built a reputation as a strategic partner throughout the life sciences industry, providing business and technical consulting expertise and experience to enable organizations of all sizes to transform their business through better use of data and technology.
ProPharma, which unveiled itself as the world’s largest Research Consulting Organization (RCO) at the J.P. Morgan Health Conference earlier this month, has over 20 years’ experience in advancing scientific breakthroughs, helping its clients to bring life-saving medicines to market. Its revolutionary approach, which operates on an ‘advise-build-operate model’ breaks the mold of the traditional CRO by providing tailor-made consulting services to small and mid-size innovators, as well as larger players, globally.
The new strategy and operating model are further supported by the launch of a global re-brand. Outlined in its recent White Paper, ProPharma is taking a bold leadership position in a dynamic industry and is confident the life sciences industry at large will benefit from its groundbreaking RCO model.
Michael Stomberg, CEO of ProPharma, said: "Digital Lab Consulting is a critical addition to our expanding suite of R&D Technology services. DLC will instantly propel ProPharma’s R&D Technology offerings globally and will help to establish ProPharma as the go-to digital innovation leader across the life sciences industry, further defining ProPharma’s RCO model."
Dr. Eliot Randle and Roger Shaw, Co-Founders and Managing Partners of DLC, will join the leadership team as Senior Vice Presidents of Digital Transformation under ProPharma’s R&D Technology Business Unit. Randle and Shaw are accompanied by a team with over 25 years of experience across the entire pharma value chain.
Dr. Eliot Randle, Co-Founder of Digital Lab Consulting, said: "We’re excited to have found a partner in ProPharma that shares our passion for innovation. Under the ProPharma brand, we will combine our decades of experience and amplify our reach to help clients achieve their digital transformation goals."
Roger Shaw, Co-Founder of Digital Lab Consulting, said: "Our identity and values align with ProPharma, and this acquisition will reinforce our position as the go-to digital partner for transformational-minded organizations by extending the DLC offerings across all ProPharma’s business lines."
With global access to the latest technology and trends and industry experts, ProPharma and DLC’s team of R&D Technology consultants take an integrated approach to determine the best fit-for-purpose technology solutions for pharmaceutical and biotech clients. The company’s quality technology solutions can be customized to serve clients of any size – from small, virtual biotech firms to global pharmaceutical companies. For more information, visit: https://www.propharmagroup.com/dlc-acquisition.
For the past 20 years, ProPharma has improved the health and wellness of patients by providing advice and expertise that empowers biotech, med device, and pharmaceutical organizations of all sizes to confidently advance scientific breakthroughs and introduce new therapies. As the world’s largest RCO (Research Consulting Organization), ProPharma partners with its clients through an advise-build-operate model across the complete product lifecycle. With deep domain expertise in regulatory sciences, clinical research solutions, quality and compliance, pharmacovigilance, medical information, and R&D technology, ProPharma offers an end-to-end suite of fully customizable consulting solutions that de-risk and accelerate our partners’ most high-profile drug and device programs. For further information about ProPharma, please visit: https://www.propharmagroup.com/.
About Digital Lab Consulting
Since 2018, Digital Lab Consulting (DLC) has been a strategic partner, providing deep industry and digital transformation expertise to enable organizations of all sizes to transform their business through better use of data and technology. With global reach and scale, underpinned by deep market knowledge of established, upcoming, and disruptive technologies, trends, and industry standards, DLC’s expertise covers a wide range of skill sets and capabilities across the pharma value chain. As a collaborative and flexible partner, DLC consistently endeavors to optimize processes and share innovations with its clients that maximize value, drive efficiency, and reduce costs, while maintaining quality. For further information about Digital Lab Consulting, please visit: https://www.dlc.io.
About Odyssey Investment Partners
Odyssey Investment Partners, with offices in New York and Los Angeles, is a leading private equity investment firm with more than a 25-year history of partnering with skilled managers to transform middle-market companies into more efficient and diversified businesses with strong growth profiles. Odyssey makes majority-controlled investments in industries with a long-term positive outlook and favorable secular trends. For further information about Odyssey, please visit: https://www.odysseyinvestment.com/.
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