Parexel International Corporation announced that the acquisition of 3ClinicalResearch AG ("3C"), a clinical research organization with deep expertise in Phase I and Phase IIa Proof-Of-Concept studies. The privately held company based in Berlin, Germany, has Phase I/IIa facilities at the renowned Charité University Hospital in Berlin and in Hennigsdorf, Germany that add a total of approximately 80 beds and two sleep research laboratories to Parexel's worldwide Clinical Pharmacology Network.
Parexel has been affiliated with 3C for several years, having established a minority ownership stake in the entity in June of 2000. The Company acquired the remaining outstanding shares of 3C through a cash purchase of approximately $12 million during March of 2004.
Josef H. von Rickenbach, Parexel's chairman and chief executive officer, stated, "The acquisition of 3C adds further capacity to our clinical pharmacology business and to our operations in Berlin. Furthermore, 3C's Proof-Of-Concept capabilities help to round out our portfolio of services. Our enhanced clinical pharmacology network will provide us with access to a broader volunteer and patient population, and enable us to more efficiently recruit and screen patients for client studies. Additionally, the extensive capabilities of 3C in conducting cardiovascular, central nervous system, and infectious disease studies further deepen Parexel's expertise in these key therapeutic categories."
Parexel is one of the largest biopharmaceutical outsourcing organizations in the world, providing a broad range of knowledge-based contract research, medical marketing and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries.