Encorium looking for a buyer

The CRO Encorium is looking to sell its assets from Encorium Group which is fully owned by Encorium Oy of Europe. In 2008, the revenue dropped significantly, along with the abrupt departure of two CEOs of the company.

Encorium CEO David Ginsberg stated in company statement:
"Over the last several months we have been actively pursuing opportunities to enhance and maximize stockholder value. Encorium's management and board have determined a sale of our assets was the best strategy to pursue. Both purchasers are well-respected organizations with strong management teams and therapeutic and regulatory expertise and we believe that transferring our assets in these two transactions is in the best interest not only for our stockholders, but for our customers and employees as well. These transactions will enable our project teams to remain wholly intact so as to continue to provide excellent service to our customers."

Source: Clinical Trials Today