ICON plc has acquired MedPass International, a European medical device CRO, regulatory and reimbursement consultancy, that specializes in medical device development and market access.

This acquisition expands ICON’s Medical Device and Diagnostic Research Services, with the addition of new regulatory and clinical capabilities in Europe. The integration of MedPass International’s services brings noted expertise in complex class 3 medical devices, interventional cardiology and structural heart devices.

Sarah Sorrell, President and CEO, MedPass International, said: “As the leader in Medical Device Regulation and Clinical Development in Europe, MedPass is delighted to be joining ICON to become the global service provider of choice in Medtech Devices and Diagnostics.”

“The acquisition of MedPass International deepens our existing advisory capabilities, particularly in medical device regulation,” commented Dr. Steve Cutler, Chief Executive Officer, ICON plc. “The medical device CRO market is experiencing strong growth due to technical innovation, changing regulations and increasing levels of outsourcing. This addition broadens our medical device footprint and staff headcount across Europe, positioning us among the global leaders in this market.”

Fairmount Partners, a leading middle-market investment bank in the Pharmaceutical Services industry, served as financial advisor to ICON on the transaction.