The company reported a 28.5 per cent growth in revenues at Rs 20,390 mn and a growth of 11.6 per cent in net profits for FY19; announced a tie up with KAI Research
TAKE Solutions, a domain intensive services provider in Life Sciences, has announced its financial results for Q4 FY19 and FY19. The company reported a 28.5 per cent growth in revenues at Rs 20,390 mn for FY19, along with a surge of 11.6 per cent in profits for the same.
The total income generated by TAKE Solutions rose by 17.6 percent to Rs 5,339 mn in Q4FY19 as compared to Rs 4,539 mn in Q4FY18. Earnings before Interest, Depreciation and Tax (EBIDTA) for Q4FY19 stood at Rs 811 mn, lower by 10.4 per cent against Rs 905 mn in Q4FY18.
The company also announced the acquisition of KAI Research, a full-service contract research organization (CRO) and health-research company.
According to a press release issued by Take Solutions, KAI will bring offerings in 3 key areas – Clinical Trial management, Clinical Research Consultation, and Data Management & Standardization. Through this acquisition, TAKE plans to build Phase Two and Phase Three capabilities in North America, adding to its current service offerings in Europe and Asia. “KAI strengthens TAKE’s therapeutic expertise in mental health, musculoskeletal diseases, CNS, infectious diseases, Oncology and medical devices,” the press release stated. The company has differentiated offerings by way of patient registries, e-clinical solutions and a long-standing relationship with clinical sites and a trusted network of service providers, it added.
Srinivasan H R, Vice Chairman and Managing Director, TAKE Solutions said, “We will continue to invest ahead of the growth curve to position us as the most preferred business partner for global pharmaceuticals.” Speaking on the acquisition, he further added, “We are on track in terms of our acquisitions- KAI Research will further strengthen our capabilities in clinical services and expand our therapeutic expertise. Through this acquisition we also gain a unique standpoint in serving Federal agencies like Srinivasan H R, etc. Together, we intent to create a world-class enterprise making meaningful strides in the bio pharma landscape. The addition of KAI’s capabilities translates to business expansion in North America, Europe and Asian markets and enhances our global footprint.”