BOSTON– Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced its acquisition of bioStrategies Group, Inc., a Chicago-based consulting firm focused on developing commercial strategies for healthcare products and technologies. Under the terms of the transaction, which closed on November 29, 2022, CRA purchased substantially all of the assets of bioStrategies Group and retained the services of 17 employees, including Mike Kaestle and Chris Schneider, who have joined CRA’s Life Sciences Practice as vice presidents.
“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 Chief Executive Officer. “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.”
“I look forward to working with Mike and Chris, both of whom have the kind of institutional knowledge and subject matter expertise that our clients rely on to help them anticipate trends and break through strategic barriers,” said CRA’s Life Sciences Practice Leader and Vice President, Gregory K. Bell. “Furthermore, they are bringing a strong team of experienced consultants and we look forward to collaborating with them in addressing our clients’ most critical needs.”
Mike Kaestle was the co-founder and president of bioStrategies Group, Inc. He previously worked in private equity. During the past five years, he has led more than 170 projects in life sciences and has extensive experience in forecasting, new product planning, commercial evaluations, and due diligence projects in support of investment decisions. He works with numerous private equity companies, as well as business development leads at life sciences companies. Additionally, Mike serves as an expert witness in life sciences product valuation litigation. He has an MBA from the University of Chicago.
Chris Schneider was a partner at bioStrategies Group and has more than 20 years of biopharma experience in a variety of commercial strategy and analytical roles on both the client and agency sides of the business, including more than 10 years of client-side experience in finance, pricing, and business development. His areas of specialization include pipeline commercial strategy, new product forecasting, asset/pipeline commercial evaluations, indication prioritization, and market sizing. Chris holds a BS from the United States Naval Academy and an MBA from the University of Chicago.