inVentiv Health Acquires ParagonRx

inVentiv Health has acquired ParagonRx, a pharmaceutical risk management consulting company. The acquisition will allow inVentiv to provide integrated REMS (Risk Evaluation & Mitigation Strategy) and risk management solutions from strategic consulting and program design to implementation coordination, project tracking and assessment. The acquisition closed December 31, 2009.

Based in Wilmington, DE, ParagonRx designs and implements REMS and other risk management plans for pharmaceutical, biotech and medical device companies, and develops programs designed to better market under-utilized drugs. ParagonRx will operate as part of inVentiv’s clinical division.

“Driving safe and appropriate use of medicine and managing potential risks are key priorities for inVentiv’s clients, and thus, we recently launched an integrated REMS offering to support these growing needs,” said Blane Walter, chief executive officer of inVentiv Health. “Today we are significantly strengthening our REMS capabilities with the acquisition of ParagonRx, unquestionably one of the industry’s top experts in risk mitigation. Their extensive experience in consultative REMS and safety services is an ideal complement to inVentiv Health’s broad array of risk communications and REMS implementation services.”

“ParagonRx and inVentiv Health share a commitment to providing healthcare clients with exceptional solutions to complex challenges. We are thrilled to be joining with them to create a premier REMS offering,” said Jeffrey Fetterman, chief executive officer of ParagonRx. “In addition, we are excited about the opportunity to work collaboratively with inVentiv to deliver a broader array of drug safety and risk mitigation services to our clients, both in the U.S. and globally.”