Aptiv Solutions, a global biopharmaceutical and medical device development services company, will be acquired by ICON plc for a cash consideration of $143.5 million.
Headquartered in Reston, Va., and with operations in 16 countries, Aptiv Solutions designs and executes adaptive clinical trials for pharmaceutical and biotech customers. Aptiv Solutions also owns Niphix, a full-service, oncology-focused CRO serving both Japanese and international customers. The company also manages medical device trials.
“ICON’s market-leading innovation is helping our customers to reduce the time and cost of drug development. We are achieving this through the combination of our industry expertise and enabling technologies such ICONIK and Firecrest,” says Dr. Nuala Murphy, President, ICON Clinical Research Services. “Aptiv Solutions’ adaptive trial capabilities will further differentiate and enhance our services to help our customers identify the most promising drug candidates earlier. Their presence in Japan will also broaden our existing capabilities in this market.”
“ICON is the perfect fit for Aptiv Solutions,” says Pat Donnelly, Chairman and Chief Executive of Aptiv Solutions. “Our unique technology and expertise in integrated design and execution of adaptive trials, our strength in medical device development and our strong position in oncology in Japan are key areas of differentiation. ICON’s excellence in execution, geographic reach, and shared focus on innovation will position the combined entity as the go-to service provider for design and execution of adaptive trials for drug, diagnostic and medical device companies in a fast growing market.”
ICON plc is a global provider of outsourced development services to the pharmaceutical, biotechnology, and medical device industries. The company specializes in the strategic development, management, and analysis of programs that support clinical development – from compound selection to Phase I-IV clinical studies.
Release Date: March 31, 2014
Source: Aptiv Solutions