The Irish Times Business Person of the Month: Steve Cutler
In February, the Irish clinical trials group Icon announced it is to acquire PRA Health Sciences for $12bn
Icon chief executive Steve Cutler will now go forward as a candidate for the Business Person of the Year Award, an award run in association with Bank of Ireland.
Mr Cutler was selected for the award after the Irish clinical trials group, which employs more than 1,000 people in the Republic, announced it is to acquire US company PRA Health Sciences in a $12 billion (€9.87 billion) deal.
The combined company will form the world’s largest contract research organisation, and is to be headquartered at Icon’s Leopardstown campus in Dublin.
Upon completion of the transaction, PRA shareholders will own about 34 per cent of the shares of the combined company.
The combined business will be either the leading or second leading organisation in key clinical market segments and have formal strategic partnerships with most of the top 20 biopharma companies.
PRA Health Sciences is a contract research organisation with headquarters in Raleigh, North Carolina that was founded in 1982. The company employs about 17,000 people globally.
Following completion of the deal, Mr Cutler will serve as chief executive of the combined company.