The proposed deal - financial terms of which were not disclosed - will add CRI's three clinical pharmacology centers housing nearly 200 beds to PRA's network.
PRA CEO Colin Shannon said: “CRI Lifetree highly complements PRA’s services and capabilities.Together we are building a leading early Phase CNS platform capable of providing clients with a comprehensive set of specialized clinical services.”
This was echoed by Willem Jan Drijfhout, executive vice president and managing director of early development services, who said the deal will position PRA at the forefront of Phase I clinical trials.
News of the acqusition comes a little under six months after PRA was bought by private equity firm Kohlberg Kravis Roberts (KKR) although, judging by what Shannon told Outsourcing-pharma.com at the time, the CRI deal is unlikely to have been driven my KKR.
Speaking in June Shannon told us, “I run the company,” adding that they will offer some strategic influence, but “ultimately I make the choices,” as it was with the company’s previous private equity owner Genstar.
“They’re there to help us and not interfere,” Shannon added, noting KKR’s $78B in assets will help PRA find ways to build and improve.
The CRI acquisition also comes just four months PRA bought and merged with RPS.
CRI Lifetree formed in 2011 when CRI Worldwide has acquired Lifetree Clinical Research to double its Phase I capacity and expand therapeutic expertise.
That deal combined Lifetree's 60 bed, 35,000 sq ft clinical trial facility in Salt Lake City, Utah, US with CRI's Phase I sites in New Jersey and Pennsylvania.
Human abuse liability, analgesia pain model development, sleep medicine and addiction are areas of expertise at CRI Lifetree.