Combined Organization Strengthens Capabilities and Geographical
Presence
RALEIGH, N.C.--(BUSINESS WIRE)--
PRA International ("PRA"), a leading clinical research organization,
today announced the completion of its merger with ReSearch
Pharmaceutical Services ("RPS") and the closing of the acquisition by
Kohlberg Kravis Roberts & Co L.P. (together with its affiliates, "KKR").
The combination of PRA and RPS creates the fourth largest contract
research organization ("CRO"), offering an enhanced array of services
and capabilities to support its clients.
Going forward, RPS will operate as PRA's Strategic Solutions Division
and the combined enterprise will be led by PRA's CEO Colin Shannon.
Former RPS CEO Harris Koffer and President Samir Shah have been named
President and COO of the Strategic Solutions Division, respectively.
Colin Shannon, President and CEO of PRA said, "As we join forces with
the team at RPS, this begins a new chapter for both organizations. We
have a supportive long-term partner in KKR and the combination with RPS
makes PRA a stronger organization, offering our customers a more
comprehensive range of services through our expanded capabilities and
therapeutic expertise. As a division of PRA, the RPS Strategic Solutions
Division will continue to operate as RPS has previously, which should
enable a seamless integration with absolutely no disruption for our
clients."
Harris Koffer added: "We are excited about joining the PRA family and
leveraging the enhanced capabilities of the combined company to deliver
greater value and innovation for our clients and employees."
Since 2000, PRA has performed approximately 2,000 clinical trials in
over 80 countries on behalf of over 300 clients. RPS is known throughout
the industry as the pioneer of the Embedded clinical development model,
with an established presence in North America and EMEA and specialized
capabilities in Latin America and Asia. RPS has more than 4,000
employees located in over 64 countries. As a result of the merger, PRA
will have nearly 10,000 employees with operations and resources in 80
countries across North and South America, Europe, Africa, and Asia
Pacific, offering a full suite of services — both Embedded and
programmatic — for its clients.
About PRA
PRA is transforming clinical trials through our people, innovation and
transparency. PRA provides personalized service customized to the unique
requirements of each study. We support our global reach and innovative
approach through flexible and reliable service, delivered by skilled
employees dedicated to ensuring that sponsors achieve their long-term
goals.
We serve our clients across all phases of biopharmaceutical drug
development by combining therapeutic and operational expertise with
local knowledge. Offering services in 80+ countries and serving sponsors
for 35+ years, we have amassed a level of expertise that enables us to
work on a variety of compounds, ranging from niche treatments and
therapies to blockbuster drugs. But at PRA, we are looking to the
future, not the past. Our increasingly forward-thinking approach to
transforming the clinical trial landscape continues to make a difference
to healthcare patients around the world.
To learn more about PRA, please visit praintl.com, email endpoints@praintl.com
or call our Global Headquarters.
About KKR
Founded in 1976 and led by Henry Kravis and George Roberts, KKR is a
leading global investment firm with $83.5 billion in assets under
management as of June 30, 2013. With offices around the world, KKR
manages assets through a variety of investment funds and accounts
covering multiple asset classes. KKR seeks to create value by bringing
operational expertise to its portfolio companies and through active
oversight and monitoring of its investments. KKR complements its
investment expertise and strengthens interactions with fund investors
through its client relationships and capital markets platform. KKR & Co.
L.P. is publicly traded on the New York Stock Exchange (NYSE:KKR), and
"KKR," as used in this release, includes its subsidiaries, their managed
investment funds and accounts, and/or their affiliated investment
vehicles, as appropriate. For additional information, please visit KKR's
website at www.kkr.com.
PRA
Laura Lawton, +1 919-786-8368
Public Relations
LawtonLaura@praintl.com
Source: PRA International
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