Icon, a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, has agreed, subject to certain customary closing conditions, to acquire MediMedia Pharma Solutions for a cash consideration of $120 million. MediMedia Pharma Solutions is division of MediMedia USA and is owned by Vestar Capital Partners.
The acquisition strengthens Icon’s expertise in scientific communications and market access and, together with Icon’s existing commercialization and outcomes practices, creates a strong integrated scientific communications and market access solution.
Headquartered in Yardley, Pa., MediMedia Pharma Solutions includes MediMedia Managed Markets and Complete Healthcare Communications. MediMedia Managed Markets is a provider of strategic payer-validated market access solutions. Complete Healthcare Communications is a medical and scientific communication agency working with medical affairs, commercial and brand development teams within life science companies. MediMedia Pharma Solutions has supported hundreds of development launches and in-market products, spanning over 40 therapeutic classes.
Ciaran Murray, Icon CEO, said, “The need to demonstrate and communicate the value of new medicines is an important global healthcare trend. Through Icon’s market leading commercialization and outcomes group we are supporting our customers to maximize the value of their new drugs. Our acquisition of MediMedia Pharma Solutions deepens the expertise of this group and brings us outstanding scientific and medical communications capabilities.”