Parexel acquires life sciences consulting firm Health Advances

By Melissa Fassbender contact

- Last updated on GMT

Image: iStock
Image: iStock

Related tags: Strategic management

Parexel has acquired a life sciences strategy consulting firm as it continues to build on its existing portfolio.

The company announced the agreement to acquire all outstanding equity securities of Health Advances, an independent life sciences strategy consulting firm, yesterday.

At Parexel, we look for M&A opportunities that can complement or enhance our existing portfolio of capabilities​,” Goldberg told Outsourcing-Pharma.com.

"One area of interest has been consulting given the opportunity to build upon our heritage, leadership, and strength in this area​."

Health Advances currently employs approximately 120 scientists, clinicians, and business professionals across offices in the US and Europe, and works with more than half of the top 25 biopharmaceutical companies, as well as diagnostics and health information technology companies.

The combination affords us access to more clients in the medical device, diagnostics, and healthcare IT segments​,” said Goldberg.

Health Advances also offers portfolio planning, product positioning, markets assessment, and forecasting services.

With Health Advances, Parexel ​can offer an integrated development, market access, and commercialization solution at both the portfolio- and product-level,” ​explained Goldberg.

“Clients will be able to fulfill all of their development and commercialization needs – from strategic direction and guidance through execution – with a single company.​”

According to Parexel​, the acquisition is expected to close in February.

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