Extends ICON's leadership in commercialisation and market access
services and brings new scientific communications capabilities
DUBLIN--(BUSINESS WIRE)--
ICON
plc (NASDAQ:ICLR), a global provider of outsourced
development services to the pharmaceutical, biotechnology and medical
device industries, today announced it has agreed, subject to certain
customary closing conditions, to acquire MediMedia Pharma Solutions for
a cash consideration of $120 million. MediMedia Pharma Solutions is
division of MediMedia USA and is owned by Vestar Capital Partners.
The acquisition strengthens ICON's expertise in scientific
communications and market access and, together with ICON's existing
Commercialisation and Outcomes practices, creates the industry's leading
integrated scientific communications and market access solution.
Headquartered in Yardley, Pennsylvania, MediMedia Pharma Solutions
includes MediMedia Managed Markets and Complete Healthcare
Communications. MediMedia Managed Markets is a leading provider of
strategic payer-validated market access solutions. Complete
Healthcare Communications is one of the leading medical and
scientific communication agencies working with medical affairs,
commercial and brand development teams within life science companies.
MediMedia Pharma Solutions has supported hundreds of development
launches and in-market products, spanning over 40 therapeutic classes.
Commenting on the acquisition, Ciaran Murray, ICON CEO, said: "The
need to demonstrate and communicate the value of new medicines is an
important global healthcare trend. Through ICON's market leading
commercialisation and outcomes group we are supporting our customers to
maximise the value of their new drugs. Our acquisition of MediMedia
Pharma Solutions deepens the expertise of this group and brings us
outstanding scientific and medical communications capabilities."
Tim Search, President of MediMedia Pharma Solutions, commented, "The
combination of the commercial, scientific, and market access expertise
of MediMedia Pharma Solutions and ICON creates an unparalleled offering
that can inform product investment decisions and establish and
communicate product value. With the shift to evidence-based medicine and
value-based pricing, we are excited about the expanded expertise and
capabilities our relationship with ICON brings to our combined
customers."
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 10,600 employees,
operating from 83 locations in 38 countries.
Further information is available at www.iconplc.com
About MediMedia Pharma Solutions
MediaMedia Pharma Solutions is a combination of MediMedia Managed
Markets and Complete HealthCare Communications.
MediMedia Managed Markets is a leading provider of strategic
payer-validated market access solutions for the biopharmaceutical and
medical device industries. Their comprehensive approach includes
scientific analysis and assessment, research and insights, strategic
development, tactical development, and program execution. Complete
HealthCare Communications is one of the largest medical communication
agencies and is a pioneer in publication services, providing strategic
consulting, software solutions, and scientific communications to medical
affairs teams for life sciences firms globally.
Further information is available at www.medimediamanagedmarkets.com
and www.thechcgroup.com
About Vestar Capital Partners
Vestar Capital Partners is a leading U.S. middle-market private equity
firm specializing in management buyouts and growth capital investments.
Vestar invests and collaborates with incumbent management teams and
private owners in a creative, flexible and entrepreneurial way to build
long-term enterprise value.
Vestar targets equity investments in U.S.-based middle-market companies
with enterprise values ranging from $200 million to $1 billion. Vestar
has extensive experience investing across a wide variety of industries
including Consumer, Healthcare, Digital Media, Information Services,
Diversified Industries, and Financial Services. Since Vestar's founding
in 1988, Vestar funds have completed more than 70 investments in
companies with a total value of more than $40 billion.
Further information is available at www.vestarcapital.com
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.
ICON/ICLR-F
ICON plc
Investor Relations
1-888-381-7923
or
Brendan
Brennan, + 353 -1-291-2000
Chief Financial Officer
or
Simon
Holmes, + 353 -1-291-2000
EVP Investor Relations and Corporate
Development
http://www.iconplc.com
Source: ICON plc
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