Parexel To Purchase ClinPhone for $182M

6/13/08

Parexel International (NASDAQ: PRXL), based in Waltham, MA, announced today that it will acquire ClinPhone, a U.K.-based firm that provides voice response and electronic data capture for drug companies, for some $182 million. Parexel, which does clinical research and consulting for the biotech and pharmaceutical industry, has arranged a $300 million credit facility with JPMorgan Chase Bank N.A. and Keybank National Association to pay for the acquisition and to refinance both companies’ debt. The deal is expected to close by the end of September.

Gregory T. Huang is Xconomy's Deputy Editor, National IT Editor, and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com or call him at 617-252-7323. Follow @

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