The firm, which is being bought by investment group JLL Partners for around $250m (€199m), is trying to regain its financial footing after slumping to a net loss of $215m in last year after almost a third of its contracts were cancelled in the first eight months of the year as drugmakers worldwide trimmed budgets.
While the new staffing service, PharmaNet Resource Solutions (PRS), is undoubtedly a response to increasing demand for clinical trial professionals worldwide, it is also represents a way for the firm to mitigate against contract cancellations.
PRS’ new head, Susan Seroskie, said that the service offers “a strong management team and experienced clinical research professionals that provide clients practical, customised resource strategies to ensure their requirements are delivered on-time and with the appropriate level of experience.”
Sean Larkin, senior vice president of PharmaNet’s US team said that: "With an enhanced personnel selection process and scaleable approach, we can ensure that talented professionals with the right credentials are available for functional outsourcing business models."
PharmaNet’s latest move follows recent efforts to expand the scope of its wider trials offering with the establishment of a new base in Sao Paulo, Brazil. The office, which was opened last month, completed the firm’s Latin American network that includes Columbia, Peru, Mexico, Chile and Argentina.