Financial terms of the acquisition were not disclosed. The acquisition was funded with existing cash, and the impact of the acquisition on Parexel’s FY 2015 revenue and earnings per share is not expected to be material.
“Parexel Informatics will operate the service globally,” a Parexel spokesman told us. “This transaction provides ClinIntel with the ability to reach into and develop new markets in a more expansive and wide-reaching way. Existing and prospective ClinIntel clients will now benefit from PAREXEL’s global footprint in Life Sciences together with ClinIntel’s RTSM process and solution.”
ClinIntel's offerings will be combined into Parexel’s ClinPhone RTSM suite and are designed to make patient randomization and clinical supply chain solutions more efficient. Capabilities include advanced RTSM technologies for planning, forecasting and supply chain eLogistics.
A Parexel spokesman told Outsourcing-Pharma.com that Crawley, UK-based ClinIntel has 20 employees and this “is primarily a complimentary acquisition.”
As far as how much time the service suite can speed up timelines, a Parexel spokesman told us it “can be quickly configured with significantly reduced study specific programming and validation. The exact saving depends on the requirements of the customer and protocol. ClinIntel supports the Parexel drive to offer an increasingly rich set of RTSM services, with highly competitive timelines.”
According to Parexel, ClinIntel’s offerings are particularly helpful in accelerating study start-up timelines. The entire ClinPhone RTSM suite will be available through the Perceptive MyTrials platform and as a standalone solution, and both solutions will be available through the Perceptive Partner Program.
ClinIntel was founded in 2009, and works with biopharmaceutical companies and contract research organizations.
Josef von Rickenbach, Chairman and CEO of Parexel, said, "As the use of technology has expanded in the conduct of clinical research, Parexel has been a leader in Randomization and Trial Supply Management. By combining the trial supply management technologies from ClinIntel with our existing ClinPhone solutions, we believe we have an opportunity to further advance our position as a clinical technology leader and grow market share by bringing enhanced speed, efficiency, and simplicity to our RTSM offering."