Parexel Makes Bid To Acquire ClinPhone

Parexel International has reached an agreement to acquire ClinPhone, a clinical technology organization headquartered in Nottingham, UK. The acquisition is based on the offer price of approximately $182 million.
   
Josef von Rickenbach, chairman and chief executive officer of Parexel, said, “As the use of technology has expanded in the conduct of clinical research, Parexel has been a leader in helping to advance the convergence of services and technology in the market. Biopharmaceutical companies have increasingly demanded Parexel technology solutions and expertise to support the full range of clinical development activities while improving the speed and efficiency of clinical programs. We anticipate that this acquisition will bring the many technologies and capabilities of ClinPhone into the Parexel organization and advance our position as a clinical technology leader.”
   
The acquisition is expected to close by September 30th.