Icon, a company creating a new paradigm for bringing clinical research to patients, has agreed to acquire PRA Health Sciences Inc. in a cash and stock transaction valued at approximately $12 billion.
 
The consolidation brings together two growing organizations with similar cultures and values to create a leading healthcare intelligence and clinical CRO. Their combined focus will be on applying transformational technology and innovation to execute clinical trials from Phase 1 to post-approval studies with the highest quality, expertise and speed.
 
With increased functional, geographic and therapeutic scale, as well as expansive healthcare technology innovation, the combined company will be able to offer market-leading capabilities and services to meet customer needs. In addition, through a combination of mobile & connected health platforms, a global site network, home health services and wearables expertise, the combined company will deliver differentiated decentralized and hybrid trial solutions.
 
“While we look forward to bringing the strengths of the combined company to customers, we are committed to remaining fully focused on achieving project delivery goals for all customer studies, both now and in the future,” said Dr. Dave Cutler, CEO, Icon plc.
 
Icon will continue to operate fully independently until the transaction is complete. During the interim period, delivery will not be impacted and account teams and day-to-day dealings with each organization will remain unchanged.