Startup of Factory CRO Growth 1988 The company now known as Avania starts as Factory CRO, founded by two leaders with Ph.D.s in biomaterials and surgical technology, Dr. Joris Bannenberg and Dr. Dirk Meijer. 1994 Factory CRO begins offering contract research services while continuing to build its legacy consulting with medical device companies. 1996 Factory CRO is one of the first CROs in the world to obtain ISO 9001 certification for its medical device standard operating procedures. 1997 Five Corners, located in Australia, forms as a new CRO and begins to help clients navigate local regulatory pathways by providing clinical support and on-site training for innovative technologies. 1999 IMARC is founded in the U.S. to provide comprehensive oversight for clinical research studies to medical device manufacturers. 2000 Boston Biomedical Associates (BBA), located in the U.S., establishes itself as a full-service CRO and begins actively partnering with clients to provide regulatory strategies, design preclinical and clinical plans, and execute clinical trials to help improve lives globally. 2011 Milestone Research Organization is founded in the U.S. to support clinical studies and provide reimbursement services to medical device companies. 2013 Factory CRO engages with Five Corners to conduct the first global clinical study for the organization. 2016 Kester Capital invests in Factory CRO to further next phase of growth that will extend global reach. 2017 Factory CRO acquires Milestone Research Organization, expanding the reach of both companies further into North America and Europe. 2018 Factory CRO merges with Five Corners, the premier medical device CRO in Australia and New Zealand. 2019 Factory CRO merges with BBA, creating Factory-CRO Group, the only medical device and medical technology CRO offering services in the U.S., Europe, Australia, and New Zealand. 2020 Factory-CRO Group becomes Avania. Avania is a united global CRO, bringing together regional teams of experts across a wide range of therapeutic specialties. 2021 Avania acquires IMARC, a global medical device CRO, fueling growth and global expansion.