Dublin-based clinical trials group Icon has acquired Docs International, a Dutch company which supplies temporary staff to the healthcare sector, for about $40 million (€29 million) in cash.
Docs specialises in providing clinical research staff to pharmaceutical, biotechnology and medical device companies carrying out their own trials. It trains and supplies both permanent and contract staff.
Established in 1997, it has offices in France, Germany, Britain, Sweden, Denmark and the Netherlands.
"The acquisition of Docs International gives Icon a significant presence in the European clinical research staffing market and creates a strong platform which we can leverage for future expansion," said Icon's chief executive Peter Gray.
Mr Gray said that while a growing percentage of pharmaceutical companies were outsourcing their clinical trials to Icon and other companies, a number of larger players continued to operate their own trials.
Icon will now be able to offer those companies contract staff for the duration of their trials.
Icon already has a similar business, Icon Contracting Solutions, in the US.
That division was formed in 2002 following the $29.7 million acquisition of Barton & Polansky Associates and its sister company, Managed Clinical Solutions.
The two divisions will now be merged to create a global business unit, Icon Contracting Solutions. It will be headed up by Seán Leech, who previously ran the business in the US.
"This will enable Icon to meet the requirements of sponsors for more flexibility when they run clinical projects internally, and give them access to a global pool of talent through one vendor," said Mr Leech.
In April, Icon raised its full-year sales forecast by 5 per cent, citing record new business wins in the first quarter and a backlog of work. It now expects to have annual sales of $560-$580 million this year
The group, which operates in 31 countries, now has 4,800 employees across 31 locations.
Shares in Icon were stable at €32 in Dublin yesterday.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)