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Emmes is both a buyer and a seller

Mar 11, 2022
Illustration of medical pills with half of the capsule created from paper money.

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.

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