I wrote a more detailed post elsewhere in this thread, but I also think this is the case and you can see an analogue with consolidation of clinical trial sites

I wrote a more detailed post elsewhere in this thread, but I also think this is the case and you can see an analogue with consolidation of clinical trial sites by private equity. https://www.fiercebiotech.com/cro/private-equity-invests-trial-sites-cro-consolidation-continues-pitchbook https://www.fiercebiotech.com/cro/private-equity-invests-tri... > Private equity dollars are flowing toward clinical trial sites as industry conditions demand larger site networks, PitchBook's analysis of first quarter 2024 deal activity shows. > > For CROs, scooping up trial sites is one aspect of a greater movement toward vertical and horizontal consolidation, a long-standing trend that is still playing out in the space, the PitchBook report confirmed. CROs continue to combine with contract development and manufacturing organizations to establish end-to-end drug development capabilities under a single roof, making them more competitive in the outsourcing market.