Charles River Associates buys BioStrategies Group

01 December 2022 2 min. read

Charles River Associates has acquired BioStrategies Group (stylized as “bioStrategies Group”), a Chicago-based life sciences consulting firm.

Founded in 1995, BioStrategies specializes in commercialization strategies for pharmaceuticals, vaccines, medical devices, and diagnostics in the US, European, and other global markets.

The consulting firm has practices in marketing strategy development, target product profile development, business development evaluation, forecasting, portfolio prioritization, investment commercial due diligence, strategic planning, payer research, and primary market research.

The acquisition, which closed on November 29, will add 17 new employees to CRA’s life sciences practice. The new team includes BioStrategies president and co-founder Mike Kaestle and partner Chris Schneider, who join as vice presidents.

Since co-founding the firm nearly 28 years ago, Kaestle has led numerous engagements in forecasting, new product planning, commercial evaluation, and due diligence. He has also served as an expert witness on life sciences product valuation litigation.

Prior to founding BioStrategies, Kaestle worked in the private equity industry.

Charles River Associates buys BioStrategies Group

Schneider has more than 20 years of biopharma experience in commercial strategy and analytics, including over 10 years of client-side experience in finance, pricing, and business development.

Prior to joining BioStrategies in 2016, Schneider was SVP of commercial strategy and forecasting at Ipsos Healthcare, global business development director for partnerships at Roche, and a senior finance manager at Pfizer.

“I am pleased to welcome Mike, Chris, and the larger bioStrategies team to CRA in what is an exciting and complementary acquisition for CRA and our Life Sciences Practice,” said Paul Maleh, CRA’s president and CEO. “For more than 25 years, our global team of consultants has helped life sciences firms by providing cross-functional support across industry stakeholders and geographies to address core business issues.”

CRA also this year acquired Welch Consulting, a firm specializing in consulting and testifying services for labor and employment issues.

Headquartered in Boston, CRA advises on business strategy, performance, and economic and financial matters pertaining to litigation and regulatory proceedings. The firm has more than 800 professionals across the Americas, Europe, and Australia.