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PAREXEL Acquires HERON Group

May 1, 2013

Expands commercialization offering

PAREXEL has acquired the HERON Group Ltd. for approximately $24 million, with the potential for an additional $14.2 million over 26 months if specific financial targets are met. HERON is a life sciences consultancy that provides evidence-based commercialization services to support product lifecycles. Services include strategic market access planning, systematic reviews, economic modeling and evaluation, pricing, reimbursement strategies, global value dossier writing, and engagement with Health Technology Assessment authorities. HERON, headquartered in Luton, UK, has additional offices in India, Sweden, and the U.S, and has approximately 140 employees.
Josef von Rickenbach, chairman and chief executive officer of PAREXEL, said, "Given the highly competitive and constantly changing global healthcare landscape, demonstrating product value and cost effectiveness to public and private payers requires rigorous data analysis. The acquisition of HERON further strengthens our ability to offer our clients a full spectrum of services that aid in developing products with reimbursement and market access in mind. We are pleased to be able to expand the expertise of our commercialization offering and believe that HERON will help to enhance the portfolio of services that we provide through our PAREXEL Consulting and Medical Communications Services business."
John Kerrigan, one of the founders of HERON and the new corporate vice president and worldwide head of the unit at PAREXEL, said, "Combining with PAREXEL will provide us the ability to introduce HERON services earlier in the product development process, and to leverage PAREXEL's broad global presence. As the healthcare environment evolves, we look forward to continued innovation in the use of evidence to support commercial decisions."
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