Parexel To Purchase ClinPhone for $182M
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.