Acquisition enhances ICON's capabilities in adaptive and medical
device trials and in Japan
DUBLIN--(BUSINESS WIRE)--
ICON
plc, (NASDAQ:ICLR), a global provider of outsourced
development services to the pharmaceutical, biotechnology and medical
device industries, today announced that it has agreed, subject to
certain closing conditions, to acquire Aptiv
Solutions for a cash consideration of $143.5 million. Aptiv
Solutions is owned by The Halifax Group, SV Life Sciences, Comvest
Partners and Management.
Headquartered in Reston Virginia, and with operations in 16 countries,
Aptiv Solutions is a recognised leader in the design and execution of
adaptive clinical trials for pharmaceutical and biotech customers. The
company's ADDPLAN® software supports the design, simulation and analysis
of adaptive trials and is used by FDA, EMA and Japan's PMDA, as well as
over fifty top pharmaceutical and medical device companies and academic
researchers.
Aptiv Solutions also owns Niphix, a full-service, oncology-focused CRO
serving both Japanese and international customers and this will be
combined with ICON's current operations in Tokyo and Osaka. In addition,
Aptiv Solutions has extensive experience in the management of medical
device trials, leveraging its adaptive capabilities and regulatory
expertise to expedite the development of a wide range of medical devices.
Commenting on the acquisition, Dr. Nuala Murphy, President, ICON
Clinical Research Services, said: "ICON's market-leading innovation
is helping our customers to reduce the time and cost of drug
development. We are achieving this through the combination of our
industry expertise and enabling technologies such as ICONIK and
Firecrest. Aptiv Solutions' adaptive trial capabilities will further
differentiate and enhance our services to help our customers identify
the most promising drug candidates earlier. Their presence in Japan will
also broaden our existing capabilities in this market."
"ICON is the perfect fit for Aptiv Solutions" said Pat Donnelly,
Chairman and Chief Executive of Aptiv Solutions. "Our unique
technology and expertise in integrated design and execution of adaptive
trials, our strength in medical device development and our strong
position in oncology in Japan are key areas of differentiation. ICON's
excellence in execution, geographic reach, and shared focus on
innovation will position the combined entity as the go-to service
provider for design and execution of adaptive trials for drug,
diagnostic and medical device companies in a fast growing market."
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, as well as 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, S-8 and F-3, which are
available on the SEC's website at http://www.sec.gov.
About ICON plc
ICON plc is a global provider of outsourced development services to the
pharmaceutical, biotechnology and medical device industries. The company
specialises in the strategic development, management and analysis of
programs that support clinical development - from compound selection to
Phase I-IV clinical studies. ICON currently has approximately 10,300
employees, operating from 77 locations in 38 countries.
Further information is available at www.iconplc.com.
About Aptiv Solutions
Aptiv Solutions is a global development services company focused on
enhancing clinical trial decision-making, efficiency and productivity
for pharmaceutical, biotech and medical device sponsors. It is the only
CRO to offer design, simulation and execution of adaptive clinical
trials and a novel statistical sampling approach to risk-based
monitoring. These services span the entire product development cycle
from first in human through regulatory approval to post-marketing. Aptiv
Solutions has more than 850 professionals in North America, Eastern and
Western Europe, Israel and Japan.
Further information is available at www.aptivsolutions.com.
ICON/ICLR-F
ICON
Brendan Brennan, + 353-1-291-2000
Chief Financial
Officer
or
Simon Holmes, + 353-1-291-2000
EVP Investor
Relations & Corporate Development
or
Aptiv Solutions
Phillip
Birch, +44 1628 643925
SVP Global Strategic Marketing
Source: ICON plc
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