CMR Completes Multi-Million Pound MBO

In the UK, the management team of specialist medical device MR consultancy Creative Medical Research (CMR), led by CEO George Ashford, has completed a 'multi-million pound' buyout of the company.

Founded in 2000 by John and Sue Reynard, Ipswich-based CMR conducts research to enable clients to understand how their audience perceives their ideas, concepts, devices, marketing messages and support materials. It has an international client base, and manages a network of partners spanning 38 countries.

Ashford was invited to join in 2010 with the intention of taking over the company, and says it has maintained 'steady growth' year on year since the MBO was signed off in 2014, despite the restrictions this has placed on investment. The company now intends to begin that investment, with continued growth and development of the team, and a focus on areas such as research around connected devices and artificial intelligence.

John Reynard says of the deal: 'We are thrilled to have been able to pass on our business to the management team and look forward to seeing further growth in the future'. Ashford comments: 'I am excited to have the opportunity to build on John and Sue's work, consolidating CMR's position as a leading, global player in the medical device market research space and continuing to grow the business. The offer to buy a business was always a massive draw for me and to be able to do so in an industry I love, covering subject areas where we make a real difference to people's lives made it a no-brainer'.

The company, which has recently promoted Hayley Algar, Alper Hulusi and Lucy Little to Company Director roles, and Matt Bowles to Associate Director, is online at www.creativemedicalresearch.com .