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Blackstone-I'rom deal approved by Australian regulator with conditions

( December 20, 2024, 03:09 GMT | Official Statement) -- MLex Summary: The acquisition of healthcare business I’rom Group by funds managed or advised by Blackstone Group has been cleared by the Australian competition regulator subject to a divestiture. In a statement today, the Australian Competition & Consumer Commission said that Nucleus Network Pty Limited, indirectly owned by Blackstone, and CMAX Clinical Research, owned by I’rom, are the two largest suppliers of Phase 1 clinical-trial services in Australia. The regulator has accepted an undertaking requiring the I’rom to divest CMAX. The regulator said that without the divestiture, this transaction could have resulted in increased prices for Phase 1 clinical-trial services.The full statement by the Australian Competition & Consumer Commission follows; and the court-enforceable undertaking is attached, along with the ACCC public competition assessment. ...

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