ICON and PRA Health Sciences are coming together, after acquisition close, to create a world leading healthcare intelligence and clinical CRO, with a shared focus on high quality and efficient clinical trial execution, from Phase 1 to post-approval studies. Closing of the deal is expected in July 2021.
This strategic transaction brings together two high-quality, growing organisations with similar customer-centric cultures to create a world leading healthcare intelligence and clinical CRO. Upon close, the combined organisation will bring specific opportunities for customers, including:
Scale: With broader and deeper consulting, clinical and commercial services portfolio, geographic footprint, depth of therapeutic expertise, and expansive data driven healthcare technology, we will deliver enhanced globally scaled expertise & solutions for all customers. Combined, ICON and PRA will be:
- World leader in Functional Service Provision (FSP)
- Global number 2 in full service Ph 2/3 clinical research
- Global number 2 in Early Phase clinical research
- Global number 3 in Late Phase & RWE
- Global number 4 in Central & Specialty Laboratory Services
Focus: ICON and PRA will have a combined singular focus on clinical research and commercialisation, leveraging transformational technology and innovation to execute clinical trials from Phase 1 to post-approval studies, with the highest quality, expertise and speed. With no ownership from a parent organisation with different business lines or models, and no distractions from ‘near adjacencies’, we will be completely committed to achieving clients’ clinical development programs.
Continuity and delivery: Both organisations have a solid track record of delivery and highly experienced management teams who have a strong history integrating successful businesses. We have launched a comprehensive integration management office, with senior members from ICON and PRA represented in every workstream on the integration planning team, to ensure minimal disruption to client service delivery and effective, gradual integration of both organisations.
Speed to market: Our extensive services portfolio, digital and data technology capabilities, and enhanced access to more diverse patient populations, will be combined with flexible delivery approaches and partnership models – all with the aim of reducing development time and cost.
Flexible partnership models: Whilst ICON and PRA have partnerships with a majority of world’s top biopharma companies, together we also have thousands of biotech clients worldwide. We will be the global leader in Functional Service Provision and a top global provider of full service clinical research. Regardless of the size of your organisation or your project, we will work your way.
Differentiated DCT platform, healthcare intelligence and technology: Combining PRA’s mobile health, commercial connected health platforms, real world data and information solutions, together with ICON’s global site network, home health services and wearables expertise, will deliver differentiated de-centralised and hybrid trial solutions to meet growing customer needs.
Access to patients: The combinations of ICON’s global site network (Accellacare), specialised oncology network (Oncacare), In-home clinical services (formerly Symphony Clinical Research) with PRA’s paediatric site network, together with the Clinical Research Units of both organisations, will provide clients with enhanced access to a larger global pool of more diverse patients.
Emerging therapies: ICON and PRA currently offer deep experience in the unique challenges of developing emerging treatments such as Immuno-oncology and other Cell and Gene Therapies, with several approved treatments already on the market. Upon close, the strengthened therapeutic and scientific capabilities of the combined company will help clients to accelerate the delivery of the most complex development programmes.