PAREXEL International Corp. has completed the acquisition of Taiwan-based APEX International Clinical Research Co., Ltd. for approximately $51 million. The acquisition adds to PAREXEL’s clinical research service offerings in the Asia-Pacific region, including China, Hong Kong, India, Taiwan, Singapore, Indonesia, South Korea, Malaysia, Thailand, the Philippines, New Zealand, and Australia. The name of the new entity is PAREXEL APEX International.

“The Asia-Pacific region is becoming increasingly important and attractive for a wide range of clinical development activities,” stated Josef von Rickenbach, chairman and chief executive officer of PAREXEL International. “Several factors are driving client demand for clinical research services in the Asia-Pacific region including established and sophisticated healthcare systems in many countries, the availability of highly trained professionals, and attractive end markets for biopharmaceutical products. We believe that the acquisition of APEX is of great strategic value, and combined with PAREXEL’s existing presence in Japan, India, and Australia, will make PAREXEL a formidable competitor and one of the leading providers of biopharmaceutical services in the Asia-Pacific region.”

“Our diverse client base will greatly benefit from the combination with PAREXEL, which will provide a broader global scope and the ability to offer a wider array of capabilities for clinical programs,” said Albert Liou, founder of APEX and newly appointed corporate vice president and general manager of PAREXEL APEX International. “The APEX team is eager to combine PAREXEL’s deep experience in clinical development with APEX’s extensive knowledge of medical and clinical development practices and approaches that are specific to the Asia-Pacific region.”