The merger of PRA and RPS has been completed, creating the fourth largest contract research organisation (CRO).
The merger was officially signed off yesterday, with ReSearch Pharmaceutical Services (RPS) now operating as PRA’s Strategic Solutions Division, under direction from PRA International’s CEO, Colin Shannon.
“This begins a new chapter for both organisations,” said Shannon. “As a division of PRA, the RPS Strategic Solutions Division will continue to operate as RPS has previously, which should enable a seamless integration with absolutely no disruption for our clients.”
Harris Koffer and Samir Shah, former RPS CEO and President, respectively, will serve as President and COO of the Strategic Solutions Division.
“We are excited about joining the PRA family and leveraging the enhanced capabilities of the combined company to deliver greater value and innovation for our clients and employees,” said Koffer.
The announcement of the merger came in July , and was greeted by analysts as a mostly positive move for the two mid-sized CROs.
“There are too many mid-sized vendors in the industry and this is another small step in the overall industry consolidation that will occur over the next few years,” said David Blume from Edgemont Capital Partners, at the time.