Icon buys Prevalere for $35M

Dublin-based Icon is forking over $35 million for New York's Prevalere, a provider of bioanalytical and immunoassay laboratory services. Prevalere could gain an additional $8.2 million if certain performance milestones are achieved. Icon, which provides outsourced development services, says the acquisition will compliment the company's European-based activities.

"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," commented Peter Gray, ICON CEO. "Prevalere brings to ICON a highly experienced team, an excellent lab facility in the United States and a strong market reputation amongst top-tier pharmaceutical and biotechnology companies."

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