M&A Deal Summary

PRA Health Sciences Acquires Parallel 6

On August 8, 2017, PRA Health Sciences acquired internet software and services company Parallel 6 from HCAP Partners

Acquisition Highlights
  • This is PRA Health Sciences’ 1st transaction in the Internet Software and Services sector.
  • This is PRA Health Sciences’ 5th transaction in the United States.
  • This is PRA Health Sciences’ 2nd transaction in California.

M&A Deal Summary

Date 2017-08-08
Target Parallel 6
Sector Internet Software and Services
Buyer(s) PRA Health Sciences
Sellers(s) HCAP Partners
Deal Type Add-on Acquisition
Advisor(s) Hammond Hanlon Camp LLC (Financial)

Target

Parallel 6

San Diego, California, United States
Parallel 6, Inc. is a mobile clinical (“mClinical”) SaaS platform designed to recruit, enroll, engage and manage patients in clinical trials. P6 provides a cloud-based solution that engages patients for trials and is devices agnostic – mobile, tablet, desktop and wearable devices. Its end-to-end solution allows stakeholders to have a turn-key clinical trial technology stack that puts the patient at the center of the trial and weaves the trial into the life of the patient.

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Buyer(S) 1

Buyer

PRA Health Sciences

Raleigh, North Carolina, United States

Category Company
Founded 1976
Sector Life Science
Employees17,500
Revenue 3.1B USD (2019)
DESCRIPTION
PRA Health Sciences' corporate headquarters in Raleigh, North Carolina.
PRA Health Sciences' corporate headquarters in Raleigh, North Carolina.

PRA Health Sciences, Inc. is an international clinical research organization. PRA provides services on a contract basis to the pharmaceutical and biotechnology industries. Comprehensive services include the filing of Investigational New Drug (IND) and similar regulatory applications, management and implementation of Phase I through IV clinical trials, preparation and submission of New Drug Applications (NDAs), and post-marketing surveillance on an international basis. PRA was formed in 1976 and is based in Raleigh, North Carolina.


DEAL STATS #
Overall 8 of 8
Sector (Internet Software and Services) 1 of 1
Type (Add-on Acquisition) 8 of 8
State (California) 2 of 2
Country (United States) 5 of 5
Year (2017) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-07 Symphony Health Solutions

Phoenix, Arizona, United States

Symphony Health Solutions Corp. is a provider of data, applications, analytics and consulting to help life sciences companies gain deeper insights into the pharmaceutical market. Symphony Health Solutions Corp. was established in 2012 and is based in Phoenix, Arizona.

Buy -

Seller(S) 1

SELLER

HCAP Partners

La Jolla, California, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2000
PE ASSETS 320M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Huntington Capital is a mezzanine finance firm that provides both debt and equity financing to established, lower middle-market companies throughout California and the Southwest US. The Firm targets growth companies with positive cash flow, diversified customers, defensible market positions, and experienced management. The Firm looks to invest $2 to $15 million in companies generating revenues of $10 to $100 million. Areas of interest include manufacturing, services, healthcare, software, homeland security, retail, and information technology. Prospective transaction situations include buyouts, acquisitions, recapitalizations, and growth capital financings. Huntington Capital was formed in 2000 and is based in San Diego, California.


DEAL STATS #
Overall 20 of 32
Sector (Internet Software and Services) 2 of 4
Type (Add-on Acquisition) 10 of 17
State (California) 18 of 21
Country (United States) 20 of 32
Year (2017) 3 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-01 Baked in the Sun

Las Vegas, Nevada, United States

Baked in the Sun, Inc. manufactures quality, fresh and frozen baked goods products for coffee houses, supermarkets, big box retailers, food service, hotels, hospitals, and schools. The Company operates out of a state-of-the-art, British Retail Consortium (BRC) food safety certified facility and distributes directly to customers throughout Southern California (San Diego to Los Angeles) and Las Vegas via the Company's own fleet of delivery trucks and nationally throughout the United States via distributors.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-09 Lucernex

Plano, Texas, United States

Lucernex, Inc. (dba Lucernex Technologies, Inc.) is a cloud-based Integrated Workplace Management System (IWMS) to both emerging and enterprise companies around the globe. The Company’s analytics, market planning, site selection, contract management, project management, facility management and maintenance management solutions are used by their valued customers every day and helps them drive revenue, reduce costs, ensure compliance and mitigate risk.

Sell -