ICON To Acquire Clinical Trial Services Division of Cross Country Healthcare, Inc.
04 Fevereiro 2013 - 9:00AM
Business Wire
ICON plc, (NASDAQ:ICLR) (ISIN:IE0005711209), a
global provider of outsourced development services to the
pharmaceutical, biotechnology and medical device industries, today
announced that it has agreed, subject to certain closing
conditions, to acquire the Clinical Trial Services Division of
Cross Country Healthcare, Inc. (NASDAQ:CCRN), for a cash
consideration of $52 million, plus an earn-out of up to $3.75
million related to certain performance-based milestones. The
transaction is expected to close within the next 30 days.
Cross Country Healthcare’s Clinical Trial Services Division
includes leading US resourcing providers, ClinForce and Assent
Consulting, whose services include contract staffing, permanent
placement and functional service provision. The division also
includes AKOS, a leading US and EU provider of pharmacovigilance
and drug safety services. ClinForce and Assent will be combined
with ICON’s FSP division, DOCS, creating a leader in global
resourcing and FSP, while AKOS will enhance the services offered by
ICON’s medical and safety services team.
Commenting on the acquisition, Ciaran Murray, CEO at ICON plc,
said: “The demand for flexible resourcing solutions continues to
grow as biopharma companies employ a range of outsourcing models to
meet their development goals more efficiently. The ClinForce and
Assent businesses will significantly expand our resourcing and FSP
capabilities in the US and, when combined with DOCS strong European
footprint and growing emerging markets presence, gives us the
ability to deliver truly global resourcing solutions. Additionally,
AKOS enhances our expertise in the areas of pharmacovigilance and
drug safety consulting, which are increasingly important
capabilities required by our clients.”
This release contains, and our officers and representatives may
from time to time make, "forward-looking statements" within the
meaning of the safe harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: "anticipate,"
"intend," "plan," "expect," "strategy" and similar references to
future periods. Forward-looking statements are neither historical
facts nor assurances of future performance. Instead, they are based
only on our current beliefs, expectations and assumptions regarding
the future of our business, future plans and strategies,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause our actual results
to differ materially from those indicated in the forward-looking
statements include, among others, strategic actions, including our
success in integrating ClinForce, Assent Consulting and AKOS;
general economic and financial conditions; the extent to which we
are successful in implementing our strategy, gaining new, long-term
relationships with customers and retaining existing ones; the risk
of competition on our industry; developments and changes in laws
and regulations; and such other factors as discussed in Part I,
Item 3 "Risk Factors" in our Form 20-F for the fiscal year
ended December 31, 2011. Any forward-looking statement made by us
in this release is based only on information currently available to
us and speaks only as of the date on which it is made. We undertake
no obligation to publicly update any forward-looking statement,
whether written or oral, that may be made from time to time,
whether as a result of new information, future developments or
otherwise.
About ICON plc
ICON plc is a global provider of outsourced development
services to the pharmaceutical, biotechnology and medical
device industries. The company specialises in the strategic
development, management and analysis of programs that support
clinical development - from compound selection to Phase I-IV
clinical studies. With headquarters in Dublin, Ireland, ICON
currently, operates from 82 locations in 40 countries and has
approximately 9,430 employees. Further information is available at
http://www.iconplc.com.
About Cross Country Healthcare
Cross Country Healthcare, Inc. is a leader in healthcare
staffing with a primary focus on providing nurse and allied and
physician (locum tenens) staffing services and workforce solutions
to the healthcare market. The Company believes it is one of the top
two providers of nurse and allied staffing services, one of the top
four providers of temporary physician staffing services, and one of
the top five providers of retained physician and healthcare
executive search services. The Company also is a leading provider
of education and training programs specifically for the healthcare
marketplace. On a company-wide basis, Cross Country Healthcare has
approximately 4,000 contracts with hospitals and healthcare
facilities, and other healthcare organizations to provide our
staffing services and workforce solutions. Copies of this and other
news releases as well as additional information about Cross Country
Healthcare can be obtained online at
www.crosscountryhealthcare.com. Shareholders and prospective
investors can also register to automatically receive the Company's
press releases, SEC filings and other notices by e-mail.
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