In a $8.5 billion deal, Parexel announced that it is being bought by EQT Private Equity and Goldman Sachs Asset Management from Pamplona Capital Management, which obtained the CRO for approximately $5 billion back in 2017.

This latest deal adds to the consolidation trend in the CRO industry over the past four months, following Thermo Fisher Scientific’s acquisition of PPD and ICON’s purchase of rival CRO PRA Health Sciences (CenterWatch Weekly, April 19).