INC Research to Acquire Global Clinical Development Unit of MDS Pharma Services
Unification of World-class Businesses to Create Global CRO Leader with Deep Therapeutic Expertise
RALEIGH, N.C.--(BUSINESS WIRE)--INC Research®, Inc., a therapeutically focused contract research organization (CRO) with a process for delivering reliable results, today announced it had entered into an agreement to acquire the Phase II-IV operations (Global Clinical Development) of MDS Pharma Services, a business unit of MDS Inc. (TSX: MDS; NYSE: MDZ). The acquisition is subject to customary approvals and closing conditions.
"We see the MDS Pharma Services Phase II-IV operations as an exceptional fit with our services and culture at INC Research. With this acquisition, we will unite two respected players with specialized international capability to form a new global leader with a full range of CRO services," said James Ogle, CEO of INC Research. "Furthermore, these synergies will provide customers with a more robust service offering and enhance an unyielding commitment to execute on projects with the highest standard of quality in the industry."
The acquisition of MDS Pharma Services Phase II-IV operation is expected to deepen INC Research's therapeutic expertise with its leadership in vaccine, respiratory, cardiovascular and endocrinology clinical research, and extend its global presence in emerging markets including South America, Asia Pacific and Africa. The combination of such complementary businesses and integration of operations through INC Research's Trusted Process® will enable INC Research to enhance its global services to deliver cost-effective results with reduced variability.
With nearly 800 clinical research staff globally, MDS Pharma Services Phase II-IV operation has conducted more than 700 Phase II-IV clinical projects involving more than 42,000 sites and nearly 300,000 patients in a wide range of therapeutic areas from 2000 to 2008. The MDS Pharma Services Phase II-IV operation has been consistently ranked as one of the Top 5 CROs in the CenterWatchSM survey of investigators from 2001-2008 in various service attributes; its therapeutic expertise complements INC Research's reputation in managing clinical research on the central nervous system (CNS), infectious diseases and oncology. This acquisition is expected to create a broader spectrum of service offerings and capabilities for INC Research to meet customer demands across the globe. The acquisition will expand INC Research's global footprint to nearly 2,000 employees and operations in 40 countries.
"MDS Pharma Services Phase II-IV operations have been significantly strengthened in recent years through global expansion and investments in process improvements that have made it an attractive acquisition target," said David Spaight, president of MDS Pharma Services. "The sale of our Phase II-IV operations to INC Research will build on and extend those strengths, and will allow MDS Pharma Services to focus on core competencies in drug discovery through Phase IIa."
"We feel the time was right for this strategic acquisition to build on our strengths and position us for continued stability and growth," said John Potthoff, COO of INC Research. "The talented people of MDS Pharma Services Phase II-IV operations will enhance the range and depth of existing INC Research experience and capability, greatly benefitting our customers."
INC Research will fully integrate its Trusted Process to formalize existing clinical research processes with the new business unit. The Trusted Process is a proven methodology for providing outsourced drug development services of the highest integrity to pharma and biotech companies, resulting in reduced variability in trial outcomes and actionable data at project completion.
About INC Research® Inc.
INC Research is a therapeutically focused contract research organization with a high performance reputation for conducting global clinical development programs of the highest integrity. Pharmaceutical and biotechnology companies look to INC Research for a complete range of customized Phase I through Phase IV programs in therapeutic areas of specialty, and in innovative pediatric and women's health trials. The company's The Trusted Process® methodology and therapeutic foresight leads customers to more confident, better-informed drug and device development decisions. INC Research is headquartered in Raleigh, North Carolina. For more information please visit www.incresearch.com.