ICON to buy US-based MediMedia Pharma Solutions

03 February, 2015

Irish multinational company ICON has announced a deal to buy US-based MediMedia Pharma Solutions for $120m.

Irish multinational company ICON has announced a deal to buy US-based MediMedia Pharma Solutions for $120m.

MediMedia Pharma Solutions is a division of MediMedia USA and is owned by Vestar Capital Partners.

ICON said the deal will strengthen its expertise in scientific communications and market access.

Headquartered in Pennsylvania, MediMedia Pharma Solutions includes MediMedia Managed Markets and Complete Healthcare Communications.

"The need to demonstrate and communicate the value of new medicines is an important global healthcare trend," said ICON's chief executive Ciaran Murray.

"Through ICON's market leading commercialisation and outcomes group we are supporting our customers to maximise the value of their new drugs. Our acquisition of MediMedia Pharma Solutions deepens the expertise of this group and brings us outstanding scientific and medical communications capabilities," he added.

Founded in 1990, ICON provides outsourced development services to the pharmaceutical, biotech and medical device industries worldwide.

It employs 11,000 people in 40 countries and is listed on the Nasdaq stock exchange in New York.

The company recently announced plans to create 200 jobs in a new Global Innovation Hub. The posts will be in IT, Data Analytics, Clinical Science, Project Management, Finance and Human Resources.

The new positions will be split between Dublin and Limerick and will take the company’s employment in Ireland to 1,200.