WuXi PharmaTech, PRA Health Sciences Restructure Relationship in China for Delivery of Clinical Trial Management Services

WuXi PharmaTech (Cayman) Inc.

and PRA Health Sciences, Inc.

today announced a restructuring of their relationship for the delivery of clinical trial management services in China, Macau and Hong Kong. The two companies formed a joint venture for this purpose in March 2013. Under the new arrangement, the portion of the joint venture located in mainland China will become a wholly owned subsidiary of WuXi, and the portion of the joint venture located in Hong Kong will become a wholly owned subsidiary of PRA. In addition, PRA will retain its Strategic Solutions business in China and Hong Kong, which offers custom-built clinical development solutions to sponsors. In connection with this restructuring, PRA and WuXi will form a preferred provider relationship under which WuXi will provide full-service clinical trial services for global clinical trials subcontracted by PRA in China.  "WuXi approached us to explore the restructuring of our relationship to better align with their current objectives in China,"