On the 21st of March 2017, WDB Holdings Co., Ltd, a listed Japanese Contract Research Organisation (CRO), bought Medfiles Ltd (100 % of the shares).
Medfiles Group has been operating in Finland for over 30 years and 20 years in the Baltic countries. In the CRO business, Medfiles sells services in product development, laboratory analytics and QP certification (GMP-certified laboratories), clinical research, regulatory affairs, health economics, and pharmacovigilance for pharmaceutical, medical device, food/feed, nutrition and cosmetic companies. Medfiles was the first spin-off enterprise established by a few faculty members of Kuopio University and experts in the pharmaceutical industry in Kuopio, in 1987.
Medfiles has ca 130 employees, and it operates in the Nordic and Baltic countries. Its clients comprise pharmaceutical, medical device and food/feed, nutrition and cosmetic companies, as well as other clients in health care and related industries.
“Japan is one of the leading countries with a global pharmaceutical industry. With a new owner, Medfiles has a unique opportunity to serve clients from Japan and elsewhere globally. Together with WDB, we are taking a huge step in our internationalisation strategy. As a solid and profitable listed company, WDB offer us a strong base from which to grow and to offer even broader services to our clients”, notes Medfiles’ President and CEO Tuija Keinonen.
In addition to Japan (Tokyo and Himeji headquarters as well as other offices around Japan), WDB has offices in the United States, India and Singapore. “This is the network we will utilise for our growth internationally. Medfiles will retain its Finnish identity, and the headquarters will remain in Kuopio, which will act as the headquarters of WDB’s European operations. This is a significant driver for our competitiveness, growth and success. We are very much looking forward to joining our expertise and forces and starting working together with our Japanese colleagues”, says Keinonen.
“I am very pleased to welcome Medfiles as a member to the WDB Group”, says Toshimitsu Nakano, President and CEO of WDB Holdings Co., Ltd. “Having the top share of human resource services in science research fields in Japan, we started our CRO business 11 years ago with distinctively focused areas of safety information management and statistical analysis. Our strengths reside in our focused strategy based on our unique capabilities, our ability to place the right people in the right place, and our organization that can deliver committed quality. All those bring high client satisfaction and solid financial results (*). We are confident that combining our strengths and Medfiles’ history and reputation well recognized in the industry, we will not only enhance Medfiles’ presence and value in Finland but also further grow and expand globally by the synergies between the two companies”, says Nakano.
PhD (Pharm) Tuija Keinonen continues as President and CEO of Medfiles Ltd. The transaction does not affect the present clients’/collaborators’ contracts, commitments or the personnel.
If you have any inquiries about the transaction or contractual matters, please contact:
President and CEO Tuija Keinonen
WDB Holdings Co., Ltd
Global Business Department, Kenichi Onuma
|Company Name:||WDB Holdings Co., Ltd.|
|Stock Listing:||First Section of Tokyo Stock Exchange (Code 2475)|
|Number of Group Companies:||19|
|Business Results (Consolidated)||Net sales||Ordinary Income|
|Fiscal year ended March 2016:||¥29.7 bil (EUR 248 mil)||¥2.73 bil (EUR 23 mil)|