BOSTON, July 1, 2014 /PRNewswire/ -- PAREXEL
International Corporation (Nasdaq: PRXL)("PAREXEL" or the
"Company"), a global clinical research organization, announced
today that the Company has acquired all of the outstanding equity
securities of ATLAS Medical Services ("ATLAS"), a provider of
clinical research services in Turkey, the Middle
East, and North Africa.
ATLAS provides services across all phases of clinical
development and has therapeutic expertise in Oncology, Hematology,
Endocrinology, Cardiovascular, Anesthesiology, Infectious Diseases
and the Central Nervous System. The firm also provides
clinical trial-related services from study planning and
feasibility, through site selection, data management and medical
writing. ATLAS also provides regulatory services and can support
product registration.
ATLAS was founded in 2005, and works with more than 28
biopharmaceutical services companies including Top 10 major
biopharmaceutical companies. The company has 35 employees and
is headquartered in Istanbul, with
additional offices in Ankara and
Izmir. The business will be integrated into PAREXEL's
Clinical Research Services business. Prior to the sale, ATLAS
was privately owned. ATLAS's Calendar Year 2013
revenue was approximately $4 million.
The acquisition was funded with existing cash, and the impact of
the acquisition on PAREXEL's Fiscal Year 2015 revenue and earnings
per share is not material.
Josef von Rickenbach, Chairman
and CEO of PAREXEL stated, "The acquisition of ATLAS strengthens
PAREXEL's presence in Turkey, the
Middle East and North
Africa. These markets are of increasing importance to our
clients who are looking for market access and a broad spectrum of
patient populations for clinical trials. In addition, ATLAS
has been a trusted business partner to PAREXEL for many years, and
their infrastructure and staff are already aligned with our
processes and operations. By fully integrating ATLAS into
PAREXEL's global operations, we will enhance our ability to help
clients more quickly achieve their goals of bringing important
therapies to patients not only in Turkey, the Middle
East, and North Africa, but
also throughout the rest of the world."
About the Company
PAREXEL International Corporation is a leading global
biopharmaceutical services organization, providing a broad range of
knowledge-based contract research, consulting, medical
communications, and technology solutions and services to the
worldwide pharmaceutical, biotechnology and medical device
industries. Committed to providing solutions that expedite
time-to-market and peak-market penetration, PAREXEL has developed
significant expertise across the development and commercialization
continuum, from drug development and regulatory consulting to
clinical pharmacology, clinical trials management, medical
education and reimbursement. PAREXEL Informatics provides advanced
technology solutions, including medical imaging, to facilitate the
clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 75
locations in 50 countries around the world, and has 15,335
employees. For more information about PAREXEL International
visit www.PAREXEL.com.
PAREXEL, PAREXEL Informatics, Perceptive, Perceptive MyTrials,
and "Your Journey. Our Mission." are trademarks or registered
trademarks of PAREXEL International Corporation or its
affiliates.
This release contains "forward-looking" statements regarding
future results and events, including, without limitation, the
Company's expected financial results, future growth and customer
demand. For this purpose, any statements contained
herein that are not statements of historical fact may be deemed
forward-looking statements. Without limiting the foregoing,
the words "believes," "anticipates," "plans," "expects," "intends,"
"appears," "estimates," "projects," "will," "would," "could,"
"should," "targets," and similar expressions are also
intended to identify forward-looking statements. The
forward-looking statements in this release involve a number of
risks and uncertainties. The Company's actual future results
and actual events may differ significantly from those suggested or
indicated in the forward-looking statements contained in this
release. Important factors that might cause such a difference
include, but are not limited to, the market price of the Company's
stock prevailing from time to time, the nature of other investment
opportunities presented to the Company from time to time, the
Company's cash flow from operations, general economic conditions
and other factors discussed more fully in the section entitled
"Risk Factors" of the Company's Quarterly Report on Form 10-Q for
the quarter ended March 31, 2014 as
filed with the SEC on May 2, 2014,
which "Risk Factors" discussion is incorporated by reference in
this press release. The Company specifically disclaims any
obligation to update these forward-looking statements in the
future. These forward-looking statements should not be relied
upon as representing the Company's estimates or views as of any
date subsequent to the date of this press release.
CONTACTS: Ingo Bank,
Senior Vice President and Chief Financial Officer
Jill Baker, Corporate Vice
President of Investor Relations
+1-781-434-4118
Diana Martin, Vice President
of Corporate Communications
+1-781-434-5516
SOURCE PAREXEL International Corporation