INC Research Plans to Acquire Late Stage Division of MDS for $50M
Raleigh, N.C.-based contract research organization (CRO) INC Research entered into an agreement to acquire the phase II through IV operations of MDS Pharma Services, the clinical development division of MDS, for $50 million.
The deal is expected to close by the end of July, according to INC CEO James Ogle, and will complement INC's existing late-stage services and global footprint. As a result of the acquisition, INC Research will gain a stronghold in several countries where it previously had little to no presence, including China, Singapore, Malaysia, Peru, Argentina, Chile, Mexico, Brazil and South Africa, Ogle said.
As part of the acquisition deal, INC will take on all of MDS' existing late-stage employees and related facilities (both owned and leased) as well as approximately 100 active trials.