Astorg Acquires Majority Stake in MedTech CRO Avania.

MANews-(C)2009-2022

Luxembourg-based private equity firm Astorg, together with buy-out specialist Kester Capital, has acquired a majority interest in Netherlands-based global MedTech contract research organisation (CRO) Avania, the company said.

Terms of the transaction were not disclosed.

Kester, a current investor in Avania, intends to retain a minority stake, and will actively support management's plans to advance Avania's development as a MedTech solution provider.

Astorg brings a global network of relationships in the MedTech space that will strengthen Avania's pipeline and broaden its customer base while the capital access will help accelerate its growth, both organically and via acquisitions.

Avania is focussed on the management of...

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