Add-on Acquisition • Life Science

ICON Acquires PRA Health Sciences

On February 24, 2021, ICON acquired life science company PRA Health Sciences for 12.0B USD

Acquisition Context

This is ICON’s 16th transaction in the Life Science sector.
This is ICON’s largest (disclosed) transaction.
This is ICON’s 18th transaction in the United States.
This is ICON’s 2nd transaction in North Carolina.

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M&A Deal Summary
Date	February 24, 2021
Target	PRA Health Sciences
Sector	Life Science
Buyer(s)	ICON
Deal Type	Add-on Acquisition
Deal Value	12.0B USD
Advisor(s)	UBS Investment Bank (Financial) Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target Company

PRA Health Sciences

Raleigh, North Carolina, United States

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.

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Buyer Overview 1

Buyer

ICON

Dublin, Ireland

Category	Company
Founded	1990
Sector	Life Science
Employees	39,900
Revenue	8.3B USD (2024)

DESCRIPTION

ICON is a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries. The company specialises in the strategic development, management and analysis of programs that support clinical development – from compound selection to Phase I-IV clinical studies. ICON was founded in 1990 and is based in Dublin, Ireland.

Deal Context for Buyer	#
Overall	29 of 29
Sector: Life Science	16 of 16
Type: Add-on Acquisition	25 of 25
State: North Carolina	2 of 2
Country: United States	18 of 18
Year: 2021	1 of 1
Size (of disclosed)	1 of 9

PREVIOUS DEAL

DATE	TARGET	DEAL TYPE	VALUE
2020-02-19	MedPass International Paris, France MedPass International is a European medical device CRO and consultancy. MedPass International is based in Paris, France.	Buy	-

DATE

TARGET

DEAL TYPE

VALUE

2020-02-19

MedPass International

Paris, France

MedPass International is a European medical device CRO and consultancy. MedPass International is based in Paris, France.

Buy

FOLLOWING DEAL

DATE	TARGET	DEAL TYPE	VALUE
2022-03-01	ICON - ADDPLAN Software Dublin, Ireland ICON's ADDPLAN Software is a stand-alone software used to design, simulate, and analyze innovative adaptive clinical trials with functionality for all phases of clinical development.	Sell	-

DATE

TARGET

DEAL TYPE

VALUE

2022-03-01

ICON - ADDPLAN Software

Dublin, Ireland

ICON's ADDPLAN Software is a stand-alone software used to design, simulate, and analyze innovative adaptive clinical trials with functionality for all phases of clinical development.

Sell

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