DUBLIN, Ireland – December 07, 2015 – ICON plc, (NASDAQ: ICLR) a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries, today announced the acquisition of PMG Research, Inc., an integrated network of clinical research sites operating from 12 metropolitan areas throughout the US. The acquisition will enhance ICON’s ability to access and engage with investigator sites and patients, helping customers to reduce the overall time and cost associated with drug development.
PMG Research is an integrated network of clinical research sites consisting of 48 physician practices and large multi-specialty healthcare institutions throughout North Carolina, South Carolina, Tennessee and Illinois. PMG Research conducts clinical trials in all major therapeutic areas with particular experience in cardiology, dermatology, endocrinology, gastroenterology, men’s health, neurology, pulmonology, rheumatology, vaccine and women’s health trials. In addition to a proprietary research database of clinical trial participants, PMG Research also has access to over 2 million active patient lives via electronic health records through their unique partnerships with healthcare systems and community physician practices.
Commenting on the acquisition, ICON’s Chief Executive Officer, Ciaran Murray said, “Enrolling and engaging patients in clinical trials is a key challenge within drug development. Leveraging PMG Research’s network, we will help customers to enhance clinical trial feasibility and improve patient enrollment timelines whilst also giving patients access to a broader range of care options through clinical trials. Today’s acquisition, together with our work with IBM Watson on clinical trial matching, reflects our commitment to enhancing engagement with sites, patients and healthcare providers to take significant time and cost from our customers’ development programs.”
Jennifer Byrne, CEO of PMG Research, states, “ICON shares PMG’s progressive views and by combining together we can enhance our ability to scale our know-how, infrastructure and health care relationships to bring more of the right trials to the right patients. Together, we will enhance the execution of clinical trials and deliver greater value for both the industry and health care systems, forging better and closer connections. The ultimate beneficiary of this work will be patients through lower cost of care, improved clinical outcomes and enhanced patient experiences.”
About PMG Research, Inc.
PMG Research, Inc. is an integrated network of clinical research facilities with 12 hub supersites located in Champaign, IL; Cary, Charlotte, Hickory, Raleigh, Rocky Mount, Salisbury, Wilmington, and Winston-Salem, NC; Charleston, SC; and Bristol and Knoxville, TN. PMG has conducted over 7,500 research studies for hundreds of pharmaceutical sponsors and CROs since 1979. PMG’s mission is to bring clinical research to as many lives as possible while delivering unparalleled service and exceptional value to clinical trial partners and stakeholders.
Further information is available at http://www.pmg-research.com
About ICON plc
ICON plc is a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries. The company specializes in the strategic development, management and analysis of programs that support clinical development – from compound selection to Phase I-IV clinical studies. With headquarters in Dublin, Ireland, ICON currently operates from 89 locations in 37 countries and has approximately 12,200 employees.
More information is available at www.iconplc.com
About Fairmount Partners
Based in Philadelphia, Fairmount Partners is the leading investment banker worldwide for pharmaceutical, device and related services businesses. Fairmount provides merger and acquisitions advisory services, and assists companies to raise funding for acquisitions, growth and liquidity. Fairmount’s Pharmaceutical Services Group has assisted clients to complete over 110 transactions in 18 countries in North and South America, Europe, Asia and Australia.
Principals of Fairmount Partners acted as advisors to ICON plc in this transaction.
Further information is available at www.fairmountpartners.com