PRA goes public after a year of ownership by KKR
November also saw PRA Health sciences finally re-join the public markets with an IPO that generated $330m. The CRO had planned to go public in May 2013, but abandoned the idea when private-equity investor KKR acquired the firm and merged it with ReSearch Pharmaceutical Services (RPS).
In the months since joining the NASDAQ PRA has attracted some positive comments. Most analysts expect CRO's stock price to increase as a result of its global reach and the fact it does not rely on strategic partnerships with Big Pharma sponsors to generate revenue.
In 2013, PRA bought Russia’s ClinStar and set up a partnership with Wuxi Apptec in China, giving it access to two high growth markets. Additionally, according to its S1 filing, the CRO generates around 62% of its revenue each year from biotechnology and small- to mid-sized companies.
