Parexel International said yesterday it bought life sciences strategy consulting firm Health Advances through the acquisition of all outstanding equity securities of the company.
Health Advances employs 120 scientists, clinicians and business professionals across the U.S. and Europe, Parexel International said. The firm works with leading medical device, diagnostic and health information companies, providing specialized services such as portfolio planning, product positioning, market assessment and forecasting, strategic and business planning and other advising services.
“Health Advances is a market-leading life sciences consultancy. Its innovative services, strong client relationships, and talented employees will complement our long-standing leadership in drug development, market access, and lifecycle management services for our clients. Health Advances will expand and strengthen our capabilities to meet the growing market demand for strategic portfolio- and product-level commercialization consulting. Clients will be able to engage with a single, global provider to fulfill all of their commercialization strategy and execution needs,” CEO Josef von Rickenbach said in a prepared statement.
The company said it expects the acquisition to close some time in February, subject to closing conditions and legal waiting periods.
“We are thrilled to be part of Parexel and offer clients a global presence, a larger range of services, and increased expertise in product and portfolio development. Together, we can maximize the value of our clients’ product and service portfolios,” Health Advances co-founders Mark Speers & Paula Speers said in prepared remarks.