hVIVO Shares Rise After €10m-Orderbook CRS Berlin Acquisition

Shares in hVIVO plc (AIM: HVO) jumped on Thursday, 27 August 2026, after the London-based clinical research group announced the acquisition of CRS Clinical Research Services Berlin GmbH, extending its German footprint and adding specialist capabilities in dermatology and women’s health.

CRS Berlin is a Phase I/II clinical research unit with 32 beds, including 18 intensive monitoring beds, and a track record of more than 350 completed studies for leading global pharmaceutical and biotech clients. In 2025 the business generated €10 million in revenue and €0.3 million of EBITDA, and it enters hVIVO’s ownership with a contracted orderbook of approximately €10 million as of 30 June 2026, giving strong visibility into 2027.

Under the deal terms, hVIVO paid a nominal upfront consideration of just €0.025 million, with the bulk of the transaction structured as a three-year, revenue-based earnout worth roughly €6 million gross, equivalent to 18% of CRS Berlin’s annual revenue through 2028. After deducting an assumed €2 million pension liability, net payments to vendors are expected to total around €4 million — a structure management says preserves balance sheet strength while remaining self-funding.

The acquisition builds on hVIVO’s January 2025 purchase of CRS Mannheim and CRS Kiel, with roughly half of Berlin’s proposals already submitted jointly with Mannheim. CEO Yamin “Mo” Khan called dermatology and women’s health “large and strategically attractive” markets that broaden hVIVO’s addressable market beyond its core infectious disease and respiratory expertise. The deal is expected to be immediately earnings accretive and boost FY26 revenue and EBITDA.