Hillhouse to acquire the China-based clinical research services business from WuXi AppTec.

Hillhouse, a global private alternative asset manager, agreed to acquire the China-based clinical research services business from WuXi AppTec, a company that provides a broad portfolio of R&D and manufacturing services. Financial terms were not disclosed. “We are confident that Hillhouse’s expertise and teams will enable these businesses to reach new heights and deliver continued excellence in clinical research and site management. This transaction is also an important step in WuXi AppTec’s efforts to sharpen our focus on our core CRDMO strategy. Powered by our unique CRDMO platform, we are accelerating the expansion of our global capabilities and capacities to better serve our customers for the benefit of patients worldwide,” Steve Yang, WuXi AppTec Co-CEO.