Parexel International has entered a definitive purchase agreement to acquire the business and operations of California Clinical Trials Medical Group, Inc. (CCT) and Behavioral and Medical Research, LLC (BMR) for $65 million. CCT and BMR provide a broad range of specialty Phase I-IV research services through four clinical sites in CA and are headquartered in San Diego. The acquisition is expected to close within the next 30 days.

“The acquisition will further strengthen our global Clinical Pharmacology Network with the addition of 51 Phase I beds on the West Coast,” stated Josef von Rickenbach, chairman and chief executive of Parexel. “A 35-bed unit located on the campus of the Glendale Adventist Medical Center, combined with an additional 16 beds that are currently under construction at another location, will expand the company’s Clinical Pharmacology capacity to over 400 beds, making Parexel one of the largest providers of Phase I services in the world. The deep experience that CCT and BMR have with central nervous system clinical trials and neuroscience drug development services, combined with their expertise in performing complex studies, will enhance the services we currently provide to clients.”

Robert Palko, president and chief operating officer of CCT and BMR, noted, “Joining forces with Parexel should enable us to access a much broader client base for our specialized Phase I through IV services, and provide us with the ability to present our clients with a more extensive product and service offering to meet their diverse needs. We look forward to better leveraging our specialized expertise as we integrate our company with Parexel’s robust consulting and clinical research services portfolio.”