RPSE Res.Phm.Reg S

    RNS Number : 7177K
  Research Pharmaceutical SRV, Inc
  23 December 2008
   

    ReSearch Pharmaceutical Services, Inc.

    RPS announces acquisition of a European Clinical Research Organization further expanding RPS' global capabilities

    ReSearch Pharmaceutical Services, Inc. ("RPS" or the "Company"), a leading provider of integrated clinical development outsourcing
solutions to the bio-pharmaceutical industry, is today pleased to announce the acquisition of a European based privately-held corporation,
Therapharm Recherches Th.R ("Therapharm"), for a total consideration of EUR2.6 million ($3.6 million) in cash and a total of 1,497,864
shares of RPS common stock, par value $0.0001 each ("Shares").  The cash element of the consideration is being satisfied from the Company's
existing cash resources. 

    The acquisition of Therapharm, will complement RPS' current operations in the Americas, as well as further build upon the two
acquisitions in Europe announced on December 22, 2008. The acquisition will, together with the two recent European acquisitions, provide RPS
with greater scale to meet the growing needs of its customers in the rapidly expanding market for globally integrated clinical research
services.  The Company is expecting the acquisition to be earnings enhancing in 2009.

    Therapharm, founded in 1980, is located in Boulogne Billancourt, France. Therapharm provides clinical research services to the
pharmaceutical industry and operates throughout Western Europe focusing its efforts on France, Belgium and Switzerland. For the year ended
December 31, 2007, Therapharm had revenues of EUR7.8 million with earnings before tax of EUR0.7 million and as at December 31, 2007 had net
assets of EUR0.5 million.

    In relation to the acquisition, the relevant shareholder has entered into a share escrow agreement whereby 50 percent of the Share
consideration for the acquisition shall be held in escrow, with such Shares held in escrow to be released in equal portions on the first,
second and third anniversaries of completion, subject to there being no claims outstanding against the corporation being acquired (as
defined within the acquisition agreement). In addition, the shareholder of Therapharm has agreed to a 12 month lock-up on all of the Shares
issued as consideration.

    Application has been made for the admission to trading on AIM ("Admission") of 1,497,864 new Shares and dealings in the new Shares are
expected to commence on December 30, 2008. The new Shares shall, upon issuance, rank pari passu with the Company's existing issued Shares.

    Following Admission, the Company will have outstanding 36,746,291 Shares and 1,357,179 Warrants (as defined in the Company's Readmission
Document dated June 5, 2007).

    Commenting on the acquisition, Dan Perlman, Chief Executive Officer, said:

    "The acquisition of Therapharm combined with our existing operations in the Americas and recently announced European acquisitions of
Infociencia and Imerem further enhances our ability to meet our clients' expanding global integrated research needs. The management of these
three companies will remain in leadership roles with RPS. We are excited about the capabilities and experience that they are bringing to our
organization inclusive of their sixty years of collective experience throughout Europe."

    About RPS
    RPS was incorporated in Delaware on January 30, 2006, while its subsidiary and operating company, ReSearch Pharmaceutical Services, LLC,
and its predecessors have been in existence since 1994.  Headquartered in Ft. Washington, Pennsylvania, with subsidiary offices across Latin
America and Europe, RPS is a next generation CRO and a leading provider of integrated clinical development outsourcing solutions to the
bio-pharmaceutical industry. RPS provides services in connection with the design, initiation and management of clinical trials programs that
are required to obtain regulatory approval to market bio-pharmaceutical products. RPS' innovative business model combines the expertise of a
traditional CRO with the ability to provide flexible outsourcing solutions that are fully integrated within RPS' clients' clinical drug
development infrastructure. This approach was designed to meet the varied needs of small, medium and large bio-pharmaceutical companies.

    For further information please contact:

 ReSearch Pharmaceutical Services, Inc.                       +1 215 540 0700
 Dan Perlman, Chief Executive Officer
 Steven Bell, Chief Financial Officer

 Nominated Adviser and UK Broker:                             +44 20 7012 2100
 Arbuthnot Securities Limited
 James Steel / Richard Tulloch    


    CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
    This document contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995.
Forward-looking statements can be identified by words such as "anticipates", "intends", "plans", "seeks", "believes", "estimates", "expects"
and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the
Company's current expectations and assumptions regarding its business, financial condition, the economy and other future conditions. Because
forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the
forward-looking statements. The Company cautions you therefore that you should not rely on any of these forward-looking statements as
statements of historical fact or as guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include regional,
national or global political, economic, business, competitive, market and regulatory conditions including: our ability to identify
liabilities associated with RPS; our ability to manage pricing and operational risks; our ability to manage foreign operations; changes in
technology; and our ability to acquire or renew contracts. Any forward-looking statement made in this document speaks only as of the date on
which it is made. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not
possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement,
whether as a result of new information, future developments or otherwise, unless otherwise required to do so by law or regulation.


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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