ICON plc has agreed, subject to certain customary closing conditions (including applicable regulatory approvals), to acquire Clinical Research Management, Inc. (ClinicalRM).
The acquisition will enhance ICON’s ability to access the market for government sponsored research and further enhances ICON’s capabilities in the areas of Vaccines and Infectious Disease.
ClinicalRM provide full service and functional research solutions to a broad range of US government agencies. Their extensive expertise extends across basic and applied research, infectious diseases, vaccines development and testing and the response to bio-threats. They have worked in collaboration with government and commercial customers to respond to the threat of global viral epidemics.
Commenting on the acquisition, ICON’s Chief Executive Officer, Ciaran Murray said: “The market for government sponsored research is significant with over fifteen hundred active clinical studies being funded by the National Institutes of Health or other federal agencies. ClinicalRM has strong relationships and a deep understanding of what is required to partner successfully with government sponsors. They will provide ICON a platform to further penetrate this market segment as part of our strategy to grow and diversify our customer base.ClinicalRM’s experience in responding to the challenges of global viruses will further enhance ICON’s capabilities in the areas of Vaccines and Infectious disease, benefiting our customers and patients globally.”
Victoria Tifft, Chief Executive Officer of ClinicalRM added, “We are delighted to be joining ICON. By combining ClinicalRM’s expertise in government sponsored research with ICON’s breadth of services and global footprint we will be able to bring additional services and thought leadership to our customers. We are also excited about the potential the combination has to further innovate drug development in the area of Vaccines and Infectious diseases, important areas of focus for both government and commercial customers.”
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