Illustration: Rae Cook/Axios
Emmes, a government-centric contract research organization owned by Behrman Capital, is buying Casimir, a U.S.-based CRO.
Why it matters: Emmes — which is currently up for sale — diversifies further into rare and orphan disease clinical research and drug development, while also adding clinical outcomes technology.
- Sources tell Sarah that some 60% to 80% of Emmes’ work involves government contracts, which is a lower margin but stable customer base.
- Adding new long-term strategic relationships with global biopharma companies is key to diversification.
Catch up quick: Axios wrote in early February that Behrman had engaged Rothschild and Baird’s government services team for a sale of the pharma services company.
- Casimir, based in Plymouth, Massachusetts, marks the fourth acquisition since Behrman backed Emmes in 2019.
- Not unlike other pharma services companies, sources say Emmes, of Rockville, Maryland, witnessed a big COVID-19 pop in business.
What we want to know: Which buyers are circling Emmes.