Premier Research Group Acquisitions Expand Depth and Breadth of Offerings
LONDON, July 13, 2007 /PRNewswire-FirstCall/ -- Premier Research Group plc (AIM: PRG) the international pharmaceutical services group today announced the acquisition of ARS Inc. and D-TARGET SA. The acquisition of these privately held companies continues the Company's stated strategy of building an international business both organically and through strategically placed acquisitions.
Commenting on the acquisitions, Dr. Simon Yaxley, Chief Executive Officer of Premier Research said: "We are delighted with the opportunity to expand both the depth and breadth of our offering in this way. Both firms clearly represent a further important step in our strategy of building a leading international contract research organisation."
Dr. Yaxley pointed out that the two acquired companies have many key attributes in common, including "excellent industry reputation, top quality staff, a complementary customer base, and a strong order book, giving high visibility of future earnings." "Importantly," added Dr. Yaxley, "both also offer a number of complementary synergies to the enlarged Group and further strengthen Premier Research's position in the international CRO market."
Based in the Boston, MA area, ARS will immediately strengthen Premier Research's presence in the growing New England biotech market while D-Target's medical device focus will bring expanded expertise in that area to both US and European customers. ARS also brings well established capabilities and expertise in Oracle Clinical.
Dr. Troy McCall, Chief Operating Officer of Premier Research, is particularly pleased that the founders of both firms will be staying with the organisation post-acquisition. "In addition to being able to offer their expertise to our customers," said Dr. McCall, "they will help ensure a smooth transition process." Dr. McCall expects that the integration of both acquisitions will follow the same path as previous such efforts by Premier Research, adding, "We anticipate proceeding quickly and smoothly given the similarity of our cultures and complementary services."
ARS and D-Target are the fifth and sixth acquisitions since Premier Research became a publicly-traded company in late 2004. The acquisitions follow the Group's purchase of SCIREX in the US last year and are expected to be earnings accretive in the first year of integration.
About Premier Research
Premier Research is a growing contract research organisation (CRO) involved in the design and execution of clinical trials (Phases 2-4) on behalf of pharmaceutical and biotechnology companies. Premier Research is established in four core therapeutic areas - oncology, analgesia, CNS (central nervous system) and infectious disease - with a strong underlying expertise in paediatrics. Through a focused approach to clinical management, the company has built a reputation with its customers for delivery of its services and has demonstrated organic growth following its recent acquisitions. Premier Research has also established itself as an active participant in the consolidation activity within the sector.
The business is a contract research organisation (CRO) that specialises in clinical data management and Oracle Clinical database services for the pharmaceutical, biotechnology, and medical device industries.
ARS was originally established in 1998 as a clinical research consulting firm focused on clinical monitoring and data management activities. Since its founding, the company has leveraged its success in clinical data management to grow and evolve ARS into a full service contract research organisation.
The company has shown consistent and strong revenue growth given its project-based business model and has nearly doubled revenue in the past two years.
The business is a contract research organisation (CRO) that specialises in clinical research and regulatory services for the medical device, combination products and biologics products manufacturers.
Founded in 1997, D-TARGET is conveniently located close to both Geneva and Zurich, Switzerland. D-TARGET assists it's customers in bringing their products to the international market by offering high-level expertise in managing all aspects of medical device, combination products and biologics products (tissue engineering) development.
From inception, D-TARGET has focused its services on the medical device industry and has developed the specialised expertise necessary to service these customers. The company is also a European Union authorised representative and has developed a web-based regulatory intelligence centre to both assist and attract customers.
SOURCE Premier Research Group
/CONTACT: Jessica Barag of Premier Research Group, +1-215-282-5391, email@example.com /
Posted: July 2007