ICON Acquires PMG Research, Inc., no terms

ICON plc,

a global provider of drug development solutions and services to the pharmaceutical, biotechnology and medical device industries, today announced the acquisition of PMG Research, Inc., an integrated network of clinical research sites operating from 12 metropolitan areas throughout the US. The acquisition will enhance ICON's ability to access and engage with investigator sites and patients, helping customers to reduce the overall time and cost associated with drug development. PMG Research is an integrated network of clinical research sites consisting of 48 physician practices and large multi-specialty healthcare institutions throughout North Carolina, South Carolina, Tennessee and Illinois. PMG Research conducts clinical trials in all major therapeutic areas with particular experience in cardiology, dermatology, endocrinology, gastroenterology, men's health, neurology, pulmonology, rheumatology, vaccine, and women's health trials. In addition to a proprietary research database of clinical trial participants, PMG Research also has access to over 2 million active patient lives via electronic health records through their unique partnerships with healthcare systems and community physician practices. Commenting on the acquisition, Ciaran Murray said: "Enrolling and engaging patients in clinical trials is a key challenge within drug development. Leveraging PMG Research's network, we will help customers to enhance clinical trial feasibility and improve patient enrolment timelines whilst also giving patients access to a broader range of care options through clinical trials. Today's acquisition, together with our work with IBM Watson on clinical trial matching, reflects our commitment to enhancing engagement with sites, patients and healthcare providers to take significant time and cost from our customers' development programmes." Jennifer Byrne, CEO of PMG Research, states, "ICON shares PMG's progressive views and by combining together we can enhance our ability to scale our know-how, infrastructure, and health care relationships to bring more of the right trials to the right patients. Together we will enhance the execution of clinical trials and deliver greater value for both the industry and health care systems, forging better and closer connections. The ultimate beneficiary of this work will be patients through lower cost of care, improved clinical outcomes and enhanced patient experiences."