Icon acquires US firm for $52m
Clinical trials company Icon has acquired a US healthcare company in a deal worth $52 million.
Dublin-based clinical trials company Icon has acquired a US healthcare company in a deal worth $52 million.
Icon, which is a global provider of outsourced development services to the pharmaceutical and medical device industries, will pay $52 million in cash for the clinical trial services division of Cross Country Healthcare.
Cross Country Healthcare's clinical trial division includes leading US resourcing providers ClinForce and Assent Consulting.
"The demand for flexible resourcing solutions continues to grow as biopharma companies employ a range of outsourcing models to meet their development goals more efficiently," Icon chief executive Ciaran Murray said.
Icon's pre-tax profits topped $20 million (€15 million) in the three months to September 30th 2012.
The company was founded in Dublin in 1990 by Dr John Climax and Dr Lambe and employs about 7,800 people in 39 countries.