Healthcare & Life Sciences
QPS Bioserve – a subsidiary of QPS LLC hived off its analytical division to Intertek Group PLC, UK
About
QPS Bioserve
Bioserve was established in 2005 and is promoted by the founders of Vijaya Diagnostic Centre, one of the pioneers in diagnostic medical care in India for the last 30 years. In early 2011, QPS LLC (a leading Clinical Research Organization (CRO) headquartered in USA) acquired a majority stake in Bioserve to form QPS Bioserve. QPS Bioserve has a regulatory class CRO offering end-to-end services, primarily catering to the needs of the generic pharmaceutical industry. The CRO facility is located at Balanagar, Hyderabad. The CRO division has been successfully audited by USFDA, UK MHRA, WHO, DCGI and other various regulatory bodies. The Analytical division located at Jeedimetla, Hyderabad provides independent third party testing services of chemical, nutritional, residual and microbiology analysis for diverse range of industries such as Food & Agri, Herbal, Neutraceutical, water, beverages, pharmaceutical and other allied chemical manufacturers.http://www.bioserve.co.in/
Intertek
Intertek is a leading quality solutions provider to industries worldwide. Services offered range from auditing and inspection, to testing, training, advisory, quality assurance and certification. Intertek enables customers improve the quality and safety of their products, assets and processes. With a network of more than 1,000 laboratories and offices and over 36,000 people in more than 100 countries, Intertek supports companies’ success in the global marketplace, by helping customers to meet end users’ expectations for safety, sustainability, performance, integrity and desirability in virtually any market worldwide. Intertek is listed on the LSE with the ticker ITRK. http://www.intertek.com/
Background
We are pleased to announce that our client QPS Bioserve India Pvt Ltd (“QPS Bioserve”) – a subsidiary of QPS LLC successfully hived off its analytical division to Intertek Group PLC (“Intertek”).
This transaction is part of QPS bioserve’s global strategy to focus on the core Clinical Research business and exit non-core businesses. The transaction would enable Intertek to expand its reach in Telangana and neighbouring regions. The transaction will combine the strong regional expertise of the analytical division of QPS bioserve with Intertek’s brand and customer solution capabilities.
Veda Corporate Advisors (“VedaCorp”) was the exclusive advisor to QPS Bioserve & its promoters in the transaction. VedaCorp successfully managed the transaction process by identifying suitable multinational & Indian companies and negotiating the most efficient transaction structure. Transaction advisory services covered identification of investors, strategic positioning, valuation and transaction structuring, assistance in due diligence, negotiation and finalization of definitive agreements, leading to the successful closure of the transaction.
VedaCorp was also the exclusive advisor to Bioserve (Now QPS Bioserve India Ltd.) when QPS LLC acquired a majority stake in the entity in 2011. This transaction is yet another testimony to our focus on long term partnerships with our clients.