The Largest American Investment Firm to Merge with Taiwan-Based Clinical Trial Service Offer

TPG Capital, the largest American private equity investment firms in the world, has bought a majority stock in Taiwan-based clinical trial service firm, Protech Pharmaservices Corp.,(PPC) as a pivotal step to tap the pharmaceutical market in Greater China.

With PPC's capital amount of US$1 million (NT$320 million), the market insider estimated that the deal valuation of this case will be beyond the market expectation; in addition, this deal is seen as the largest M&A (mergers and acquisitions) case in Taiwan in recent years.

TPG noted that the deal will bring mutual benefits to the both companies as PPC can further expand its sales scale in Greater China while TPG will have the access to promote its health care industry networks in Pan-Asia regions.

Foreseeing the booming of the pharmaceutical market in Greater China, TPG is desperately in need of a professional CRO (Contract Research Organization) to assist the firm to build a solid ground in the abovementioned market, and PPC is obviously the prime option.

Founded in 1997, PPC, serving as the largest CRO firm by scale, have set up multiple branches in Taiwan, South Korea, Japan, and China. Backed by 20 years of expertise, PPC has become one of the few professional clinical trial providers whose capability is affirmed by the U.S and Japan.

Meanwhile, as the top-tier private equity investment firms, TPG possesses an over US$50 billion (NT$ 1.5 trillion) fund and has actively invested on biopharmaceutical industries and firms including the American healthcare service provider IMS, diagnostic equipment manufacturers, medical treatment providers and etc.

It is also confirmed that Jason Chen, the founder of PPC, will continue to be the chairman of the firm after the M&A process.