Pharma-Bio Serv is a technical compliance consulting firm serving pharmaceutical, biotech, medical device, chemical, cosmetic, and food companies. The company deploys experienced consultants — engineers, life scientists, former quality assurance managers, and former health agency officials — at client sites to help those clients meet regulatory requirements from agencies like the FDA. Core service areas include regulatory compliance, quality assurance, validation, technology transfer, engineering, and project management. Pharma-Bio Serv operates across three geographic segments: Puerto Rico, the U.S., and Europe, with a smaller presence in Brazil. Puerto Rico is the historical core, where the company has operated for over 30 years. The business model is straightforward: roughly 99% of revenue comes from time-and-materials billing, where clients are charged for consultant hours and expenses. Revenue scales directly with the number of consultants deployed and hours billed. The primary cost driver is consultant compensation, and margins are sensitive to utilization rates and the ability to pass labor cost increases through to clients. The client base is concentrated, with three customers accounting for roughly 44% of revenue. Pharma-Bio Serv is pursuing geographic expansion in the U.S., Europe, and Latin America, leveraging existing Puerto Rico client relationships to gain access to those same clients' operations in other markets.