Thursday, August 14, 2008

Parexel closes ClinPhone purchase

By Mass High Tech Staff

Pharmaceutical services provider Parexel International Corp. reports it has closed on its previously announced purchase of U.K. firm ClinPhone plc, in a deal earlier reported to be worth $182 million.

Waltham-based Parexel (Nasdaq: PRXL) says that it will combine ClinPhone, a clinical technology firm, with Perceptive Informatics, Parexel’s wholly-owned subsidiary that provides e-clinical technology.

Steve Kent, former CEO of ClinPhone, has been named as the new president of Perceptive Informatics. The subsidiary’s services are designed to help biopharmaceutical companies improve their clinical trial process improvements through such functions as electronic capture of patient data and data collaboration tools, according to Parexel officials.

Founded in 1993, ClinPhone provides telephone and web-based systems used in clinical trials around the world. The Nottingham, England, firm listed 731 employees as of February 2008.

Parexel, with 6,485 workers, reported 2007 net income of $37.3 million on revenue of $918.1 million.