Parexel-to-acquire-functional-service-provider-ExecuPharm
In September 2015, Citibank analyst Garen Sarafian told us Parexel would continue its M&A strategy moving forward – despite a repurchase program announced that month.
Starting out 2016, the CRO announced its acquisition of the life science strategy consulting firm Health Advances, fulfilling this commitment to “tuck-in M&A, which management indicated was a priority for capital allocation,” as Sarafian explained.
After purchasing the independent consulting firm, the company’s president and COO told us Parexel would continue to look for M&A opportunities that complement or enhance its existing portfolio of capabilities.
In September, Parexel entered into a definitive agreement to acquire ExecuPharm, a global functional service provider (FSP) in a deal that is said will add scale to meet growing demand.