The Australian Competition and Consumer Commission (ACCC) has approved (20 December) Blackstone Group’s proposed acquisition of I’rom Group Co. Limited, contingent upon the divestiture of CMAX Clinical Research Pty Ltd.
Blackstone’s Nucleus Network Pty Ltd and I’rom’s CMAX are the two largest suppliers of phase 1 clinical trial services in Australia, critical for testing new therapeutic products. Without the divestiture, the merger risked reducing competition, potentially leading to higher prices and diminished service quality.
The divestiture will require the sale of the entire CMAX business to an ACCC-approved purchaser, addressing concerns about market concentration and ensuring fair access to phase 1 clinical trial services for rival contract research organizations.
For more details, see the ACCC’s public register.
