PRA Health Sciences

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PRA Health Sciences
TypeSubsidiary[1]
Nasdaq: PRAH
IndustryPharmaceuticals & Biotechnology
Founded1976; 45 years ago (1976)
Charlottesville, Virginia, U.S.
Headquarters
Raleigh, North Carolina
,
U.S.
Area served
Worldwide
Key people
Colin Shannon (President and CEO)
Revenue
  • Increase US$ 1.948 billion (2017)[2]
  • Increase US$ 1.580 billion (2016) [2]
Number of employees
17,000+[2]
Websiteprahs.com

PRA Health Sciences is a contract research organization (CRO) with headquarters in Raleigh, North Carolina that was founded as the Anti-Inflammatory Drug Study Group in 1976, renamed PRA in 1982, as it expanded into other therapeutic areas besides inflammation.[3]

Background[]

In 2013 the company was acquired by Kohlberg Kravis Roberts, which brought the company public in November 2014 and maintained shares until September 2019.[4]

In August 2017, the company acquired Conshohocken-based real-world healthcare data, analytics, and technology solutions company Symphony Health for US$530 million.[5]

PRA's 2018 revenue was US$2.87 billion.[6]

On February 24, 2021, PRA and ICON plc announced that ICON would acquire PRA.[7][8] The acquisition was completed on July 1, 2021.

Upon completion of the transaction, PRA shareholders own approximately 34 percent of the shares of the combined company and ICON shareholders own approximately 66 percent.[9]

References[]

  1. ^ "ICON acquisition creates world-leading healthcare intelligence and clinical research organisation". July 2021.
  2. ^ Jump up to: a b c "PRA 10-K For the fiscal year ended December 31, 2017". PRA Health Sciences via SEC Edgar. 2018-02-02. See SEC Edgar index page for PRA for updates
  3. ^ "PRA Health Sciences becomes latest big CRO to launch IPO". CenterWatch News Online. 13 November 2014.
  4. ^ "PRA Health Sciences Announces Secondary Offering and Concurrent Share Repurchase". Globenewswire. September 3, 2019.
  5. ^ Liu, Angus (August 8, 2017). "PRA Health Sciences makes $530M Symphony buy, reports 16% revenue growth in Q2". FierceBiotech.
  6. ^ "Investors | ICON PLC".
  7. ^ "ICON to acquire PRA Health Sciences". ICON plc. Retrieved 2021-07-01.
  8. ^ "ICON to Acquire PRA Health Sciences, Creating a World Leader in Healthcare Intelligence and Clinical Research | PRA Health Sciences, Inc". investor.prahs.com. Retrieved 2021-07-01.
  9. ^ "ICON to Acquire PRA Health Sciences, Creating a World Leader in Healthcare Intelligence and Clinical Research". www.businesswire.com. 2021-02-24. Retrieved 2021-07-01.

External links[]

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