Parexel: TMAC acquisition part of strategy to capture new growth

By Melissa Fassbender contact

- Last updated on GMT

Parexel: TMAC acquisition part of strategy to capture new growth

Related tags: Medicine

Parexel is set to acquire The Medical Affairs Company (TMAC) as it looks to strengthen its current commercialization and medical affairs services.

Georgia-based TMAC is a full-service contract medical organization offering medical science liaison (MSLs) and clinical nurse educator support services as well as medical affairs consulting, medical communications support, and direct placement services. 

Cristi Barnett, a spokesperson for Parexel told us the decision to acquire TMAC was made to “enable Parexel to capture new growth as part of its corporate strategy​.”

Under this, PAREXEL is focused on opportunities within commercialization, market access, regulatory, pharmacovigilance, and medical outsourcing​,” she said.

Through the acquisition, Parexel gains new medical affairs outsourcing capabilities that it said will “strengthen and expand its commercialization and market access offerings​.”

This will give PAREXEL access to new customers and enable the Company to compete for a broader range of business opportunities within the growing commercialization-outsourcing market​,” Barnett said.

The acquisition comes on the heels of the company’s recent company-wide restructuring. As previously reported​, the restructuring plan includes eliminating an undisclosed amount of positions as the CRO looks to save on costs.

According to the company, the TMAC management team will remain in place after the transaction’s close – continuing to manage its 200 approximate US-based employees.

The acquisition, terms of which were not disclosed, is expected to close in this month.

(Feature image: iStock/Kritchanut)

Related topics: Clinical Development

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