ICON acquires Prevalere Life Sciences
Ireland-based pharmaceutical development services provider ICON has acquired Prevalere Life Sciences, a wholly owned subsidiary of ORS Labs for an initial cash consideration of US$35m (Euro 28m). If certain performance milestones are achieved, a further consideration, up to a maximum of $8.2m (€6.5m) may be payable.
Ireland-based pharmaceutical development services provider ICON has acquired Prevalere Life Sciences, a wholly owned subsidiary of ORS Labs for an initial cash consideration of US$35m (Euro 28m). If certain performance milestones are achieved, a further consideration, up to a maximum of $8.2m (Euro 6.5m) may be payable.
Prevalere is a leading providers of bioanalytical and immunoassay laboratory services to the biotechnology and pharmaceutical industries and operates from a 49,000ft2 facility in Whitesboro, New York. It will complement ICON's existing European-based bioanalytical lab capabilities, where ICON Development Solutions recently moved to a new, purpose-built bioanalytical and immunoassay laboratory in Manchester, UK.
"The acquisition of Prevalere gives ICON much greater scale in the rapidly growing market for bioanalytical and immunoassay laboratory services and adds value to our service offering in early phase clinical development," said Peter Gray, ICON ceo.