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ICON (ICLR) Set to Acquire Clinical Research Management
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ICON Plc (ICLR - Free Report) , a global contract research organization (CRO) recently announced plans to acquire Hinckley, OH-based Clinical Research Management Inc. (ClinicalRM) for an undisclosed sum. Notably, the deal is subject to certain regulatory approvals and closing conditions, which are yet to be revealed.
ClinicalRM is a full-service CRO for biologics, drugs and devices, primarily serving the U.S. government agencies. The company has a broad range of network with projects spanning from the government, academic and commercial market places, especially in the areas of applied research, testing and response to bio threats, global viral epidemics and many more.
The main motive of ICON behind this acquisition is to utilize ClinicalRM’s exceptional market synergies in the field of government sponsored research and thus expand its base in the space. Notably, over 1500 active clinical studies for government-sponsored research are being funded by the National Institutes of Health and other federal agencies.
In the global scenario, the clinical trial service market is likely to reach a worth of over $64 billion by 2020, representing a CAGR of 9% between 2015 and 2020. In fact, it is believed that almost three-fourths of the clinical trials are likely to be performed by the contract research organizations by then. Thus, this buyout can be expected to benefit from such market trends as well, and address a huge client base and industry challenges over the long haul.
Moreover, the excellent ‘Quality management system’ of ICON accompanied by ClinicalRM’s expertise in gathering Government sponsorships will also provide flexible and convenient clinical research solutions globally. ICON aims to enhance its capabilities in the areas of vaccines and infectious diseases in the global market utilizing ClinicalRM’s competence in the platform.
Notably, ICON is highly proficient in executing Phase I - Phase IV clinical trial studies, whereas ClinicalRM specializes in Phase IV (post marketing inspection) clinical studies. Thus, this buyout is going to bode well for the companies in terms of efficiency in trials along with cost synergies.
Zacks Rank & Key Picks
ICON has a Zacks Rank #3 (Hold).
Better-ranked stocks in the medical space are AMN Healthcare Service , Bio Telemetry Inc. (BEAT - Free Report) and Envision Healthcare Holdings Inc . While AMN Healthcare and Bio Telemetry sport a Zacks Rank #1 (Strong Buy), Envision HealthCare carries a Zacks Rank #2 (Buy).
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ICON (ICLR) Set to Acquire Clinical Research Management
ICON Plc (ICLR - Free Report) , a global contract research organization (CRO) recently announced plans to acquire Hinckley, OH-based Clinical Research Management Inc. (ClinicalRM) for an undisclosed sum. Notably, the deal is subject to certain regulatory approvals and closing conditions, which are yet to be revealed.
ClinicalRM is a full-service CRO for biologics, drugs and devices, primarily serving the U.S. government agencies. The company has a broad range of network with projects spanning from the government, academic and commercial market places, especially in the areas of applied research, testing and response to bio threats, global viral epidemics and many more.
The main motive of ICON behind this acquisition is to utilize ClinicalRM’s exceptional market synergies in the field of government sponsored research and thus expand its base in the space. Notably, over 1500 active clinical studies for government-sponsored research are being funded by the National Institutes of Health and other federal agencies.
In the global scenario, the clinical trial service market is likely to reach a worth of over $64 billion by 2020, representing a CAGR of 9% between 2015 and 2020. In fact, it is believed that almost three-fourths of the clinical trials are likely to be performed by the contract research organizations by then. Thus, this buyout can be expected to benefit from such market trends as well, and address a huge client base and industry challenges over the long haul.
Moreover, the excellent ‘Quality management system’ of ICON accompanied by ClinicalRM’s expertise in gathering Government sponsorships will also provide flexible and convenient clinical research solutions globally. ICON aims to enhance its capabilities in the areas of vaccines and infectious diseases in the global market utilizing ClinicalRM’s competence in the platform.
Notably, ICON is highly proficient in executing Phase I - Phase IV clinical trial studies, whereas ClinicalRM specializes in Phase IV (post marketing inspection) clinical studies. Thus, this buyout is going to bode well for the companies in terms of efficiency in trials along with cost synergies.
Zacks Rank & Key Picks
ICON has a Zacks Rank #3 (Hold).
Better-ranked stocks in the medical space are AMN Healthcare Service , Bio Telemetry Inc. (BEAT - Free Report) and Envision Healthcare Holdings Inc . While AMN Healthcare and Bio Telemetry sport a Zacks Rank #1 (Strong Buy), Envision HealthCare carries a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>