Acquisition enhances ICON’s patient access in Europe and Africa
DUBLIN--(BUSINESS WIRE)--May 23, 2019--
ICON
plc, (NASDAQ: ICLR) a global provider of drug and device
development and commercialisation services to pharmaceutical,
biotechnology, medical device industries, today announced that it has
acquired a majority shareholding in MeDiNova Research, a site network
with research sites in key markets in Europe and Africa, and that it has
the right to acquire the remaining shares in the company by Quarter 3
2020.
The acquisition further enhances ICON’s patient recruitment capabilities
in EMEA and complements ICON’s existing site network in the US, PMG
Research.
Founded in 2000 and headquartered in Coventry, UK, MeDiNova Research is
a network of 33 active clinical research sites in the UK, Spain, South
Africa, Poland and Romania. The company has experience operating a
number of different site models, including dedicated research sites,
integrated research sites and working closely with affiliate sites.
MeDiNova Research has experience across many therapeutic areas, with
particular experience in musculoskeletal, respiratory, cardiovascular,
dermatology, infectious disease, metabolic, general health and vaccine
studies. MeDiNova Research sites have a proprietary database of 400,000
patients who reside within easy reach of the sites. In addition,
MeDiNova Research has access to over 5 million potential study patients
via electronic medical records through strong healthcare partnerships.
Kumar Muthalagappan OBE, Chief Executive Officer, MeDiNova Research,
said: “MeDiNova sites are focused on being high enrollers coupled
with high quality, to exceed our pharma clients’ expectations. Our
solutions are based on reducing start up times, early achievement of
enrolment targets and high retention rates by delivering an excellent
patient experience. ICON provides MeDiNova with a great opportunity for
continued growth through scaling our knowledge, infrastructures and
healthcare relationships. The MeDiNova-ICON combination will further
enhance our highly productive models to deliver best in class site
performance for the industry.”
Dr. Steve Cutler, Chief Executive Officer, ICON plc, said: “ICON has
a focused patient, site and data strategy which is helping us to improve
site identification, study placement and patient recruitment and
retention. A successful element of our strategy has been our integrated
PMG site network in the US and our ability to grow alliances with third
party sites and healthcare institutions in the US and Europe. MeDiNova
provides us with a platform to further expand our site network in key
EMEA markets and will help us to recruit patients into studies faster.
MeDiNova’s experience in operating multiple site models and their strong
therapeutic expertise will greatly benefit our customers’ development
programmes.”
About MeDiNova Research
MeDiNova Research is a global network of quality research sites,
providing investigator based clinical research services to the
pharmaceutical and biotech industry. The company is a specialist in
Phase II-IV clinical studies in multiple therapeutic areas and has
outstanding global experience and expertise in the delivery of quality
clinical research. Headquartered in Coventry, United Kingdom, MeDiNova
Research currently operates from 33 active clinical research sites in
five countries and has approximately 160 employees.
Further information is available at www.medinovaresearch.com
About ICON plc
ICON plc is a global provider of outsourced drug development and
commercialisation solutions and services to the pharmaceutical,
biotechnology, medical device and government and public health
organisations. 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. With
headquarters in Dublin, Ireland, ICON currently, operates from 90
locations in 37 countries and has approximately 13,920 employees.
Further information is available at www.iconplc.com/patients
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-G
View source version on businesswire.com: https://www.businesswire.com/news/home/20190523005402/en/
Source: ICON plc
ICON Media
Lucinda Sandon-Allum
Weber Shandwick
+44
(0)20 7067 0548
lsandon-allum@webershandwick.com
