CRO Parexel has made a $182 million bid for U.K.-based ClinPhone, but it may be facing competition from Quintiles, the world's largest private CRO. ClinPhone helps drug developers select trial participants and track data gathered from clinical trials. "We anticipate that this acquisition will bring the many technologies and capabilities of ClinPhone into the PAREXEL organization and advance our position as a clinical technology leader," said Josef von Rickenbach, CEO of Parexel.
But Quintiles says it would also make a good partner with ClinPhone and, according to a company statement, has discussed the possibility of an offer with ClinPhone's board. "Quintiles believes that the operations of ClinPhone are a strategic fit with Quintiles' clinical research capabilities and confirms that it has been in discussions with the Board of ClinPhone which may or may not lead to an offer being made for ClinPhone." If Quintiles' plans for an acquisition move from a "definite maybe" to a "yes," it's sure to offer more than the $182 million Parexel bid, which represented a 31 percent premium over yesterday's close. Should Parexel's bid win out, the deal is expected to close in September.