BURLINGTON, Mass., April 3, 2012 /PRNewswire/ -- inVentiv Health, Inc., offering best-in-class clinical, commercial and consulting services to the healthcare industry, announced that it has completed the acquisition of Kforce Clinical Research, Inc. ("KCR"), a provider of functional outsourcing solutions to pharmaceutical, biotech and medical device companies, from Kforce Inc. for $50 million in cash. The transaction closed on March 30, 2012.
KCR will be combined with inVentiv's existing functional service provider (FSP) and staffing businesses within PharmaNet/i3, inVentiv Health' s Clinical segment. The business will deliver a full spectrum of clinical staffing and resourcing solutions, ranging from recruitment of clinical development staff in all therapeutic areas to strategic FSP partnerships across multiple clinical trials and global geographies.
"Our investments in leading providers of clinical research services over the past year reflect our strong belief that clinical outsourcing will continue to grow as clients look to drive cost savings and flexibility while ensuring the highest quality in their organizations," said Paul Meister, CEO of inVentiv Health. "Further enhancing our Clinical segment capabilities with KCR, and marrying these comprehensive clinical services with our commercial and consulting expertise, will allow inVentiv Health to deliver innovative solutions that add value, speed and quality to the drug development process."
About inVentiv Health
inVentiv Health, Inc. is a leading global provider of best-in-class clinical, commercial and consulting services to companies seeking to accelerate performance. inVentiv's client roster includes more than 550 pharmaceutical, biotech and life sciences companies. With 13,000 employees in 40 countries, inVentiv rapidly transforms promising ideas into commercial reality. inVentiv Health Inc. is privately owned by inVentiv Group Holdings Inc., an organiza
|SOURCE inVentiv Health, Inc.|
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