ICON acquisition creates world-leading healthcare intelligence and clinical research organisation
July 01 2021 - 8:43AM
Business Wire
ICON plc, (NASDAQ: ICLR)
(“ICON”) today announced the completion of its acquisition
of PRA Health Sciences. The combined company will retain the name
ICON and will bring together 38,000 employees across 47 countries,
creating the world’s most advanced healthcare intelligence and
clinical research organisation.
The combined company will leverage its enhanced operations to
transform clinical trials and accelerate biopharma customers’
commercial success through the development of much needed medicines
and medical devices. The new ICON will have a renewed focus on
leveraging data, applying technology and accessing diverse patient
populations to speed up drug development.
Transaction close details
Upon completion of the acquisition, pursuant to the terms of the
merger agreement, PRA became a wholly owned subsidiary of ICON plc.
Under the terms of the merger, PRA shareholders received per share
$80 in cash and 0.4125 shares of ICON stock. The trading of PRA
common stock on NASDAQ was suspended prior to market open on July
1, 2021.
About ICON plc
ICON plc is a world-leading healthcare intelligence and clinical
research organisation. From molecule to medicine, we advance
clinical research providing outsourced services to pharmaceutical,
biotechnology, medical device and government and public health
organisations. We develop new innovations, drive emerging therapies
forward and improve patient lives. With headquarters in Dublin,
Ireland, ICON will operate from 163 locations in 47 countries and
have approximately 38,000 employees as of July 1, 2021.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements. These
statements are based on management's current expectations and
information currently available, including current economic and
industry conditions. These statements are not guarantees of future
performance or actual results, and actual results, developments and
business decisions may differ from those stated in this press
release. The forward-looking statements are subject to future
events, risks, uncertainties and other factors that could cause
actual results to differ materially from those projected in the
statements, including, but not limited to, the ability to enter
into new contracts, maintain client relationships, manage the
opening of new offices and offering of new services, the
integration of new business mergers and acquisitions, the impact of
COVID-19 on our business, as well as other economic and global
market conditions and other risks and uncertainties detailed from
time to time in SEC reports filed by ICON, all of which are
difficult to predict and some of which are beyond our control. For
these reasons, you should not place undue reliance on these
forward-looking statements when making investment decisions. The
word "expected" and variations of such words and similar
expressions are intended to identify forward-looking statements.
Forward-looking statements are only as of the date they are made
and we do not undertake any obligation to update publicly any
forward-looking statement, either as a result of new information,
future events or otherwise. More information about the risks and
uncertainties relating to these forward-looking statements may be
found in SEC reports filed by ICON, including its Form 20-F, F-1,
F-4, S-8 and F-3, which are available on the SEC's website at
http://www.sec.gov.
ICON/ICLR-F
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version on businesswire.com: https://www.businesswire.com/news/home/20210701005529/en/
Investor enquiries: Brendan Brennan, CFO +35312912000
brendan.brennan@iconplc.com
Jonathan Curtain, VP, Corporate Finance & Investor Relations
+35312912000 jonathan.curtain@iconplc.com
Media enquiries: Weber Shandwick (PR adviser) Lisa Henry
(GMT timezone) +447785 458203 lhenry@webershandwick.com
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