Navigation Links
PRA International Relocating Headquarters to Raleigh

RESTON, Va., Sept. 25 /PRNewswire-FirstCall/ -- PRA International (Nasdaq: PRAI) announced today that it plans to relocate its corporate headquarters from Reston, Va., to the Raleigh, N.C. area by the end of 2007.

"The current headquarters in Reston is purely a corporate administrative office with no operational functions," said Terrance J. Bieker, chief executive officer. "After conducting a comprehensive analysis, we have determined that relocating to the Raleigh area will allow PRA to tap into a stronger market for operational resources, place us in closer proximity to existing and potential new clients, provide ready access to a highly qualified talent pool and reduce our infrastructure costs. To fuel our planned growth, we expect to begin aggressive hiring in October and hope to attract 500 administrative and operations employees over the next five years. North Carolina has one of the fastest growing workforces in the United States and we are pleased to take advantage of the low employee turnover rate and the quality of life. We believe this move to Raleigh will position us well to achieve our future growth targets."

The move affects 37 people located in or working regionally out of the Reston office. Most employees have been invited to move and the Company awaits their final decision. Of those unable to move, some will become home based and a few others will relocate to the Company's offices in Charlottesville, Va., where the Company plans to continue some of their corporate support services. PRA expects to take a charge of approximately $1.7 million associated with this relocation of its corporate headquarters.

PRA announced July 25, 2007 that it had entered a definitive merger agreement with affiliates of Genstar Capital, a private equity firm based in San Francisco. The merger is expected to close in the fourth quarter of 2007. The plans to relocate the headquarters are independent of the merger transaction.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements that are subject to risks and uncertainties relating to PRA International's future financial and business performance, as well as any other predictive statements that depend on future events or conditions, or that include words such as "expect," "anticipate," "intend," "plan," "believe," "seek," "may," "will," "estimate" or similar expressions of futurity. You should not place undue reliance on any forward-looking statements, which represent the Company's statements only as of the date of this news release and are not intended to give any assurance as to actual future events. Factors that might cause future events to differ include: the ongoing need for early and late phase drug development services; project cancellations and timing issues; our ability to attract and retain qualified personnel; our ability to continue providing our services effectively, including the quality or accuracy of the data or reports provided and our ability to meet agreed-upon schedules; the ability and willingness of our clients to continue to spend on research and development at rates comparable to or greater than historical levels; trends or events affecting the CRO industry and the demand for CRO services; government regulation, including regulatory standards applicable to CRO services; evolving industry standards and technological changes; and general business and economic conditions. Events relating to PRA International could differ materially from those anticipated in these forward-looking statements. Although these statements are based upon assumptions Company management believes to be reasonable based upon available information, they are subject to the foregoing risks and uncertainties as well as those described more fully in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of our annual report on Form 10-K. This document can be accessed in the SEC's EDGAR database found at Please note that PRA International assumes no obligation to update any of the forward-looking statements in this release, except as required by applicable securities laws.

About PRA International

PRA International is one of the world's leading global clinical development organizations, with over 2,700 employees working from offices in North America, Europe, South America, Africa, Australia and Asia.

To learn more about PRA International, please visit or call our World Headquarters at +1 (703) 464-6300.

SOURCE PRA International
Copyright©2007 PR Newswire.
All rights reserved

Related medicine news :

1. International community warns India on HIV situation
2. Key step forward on International Health Rules
3. ICMR along with other International Research organisation with drug development for Neglected Diseases
4. International Osteoporosis Research Centre To Be Started In India.
5. Indian hospitals require International Accreditation
6. International Conference On Malaria - Laveran To Genomics
7. Delhi To Host International Women’s Congress From Nov 2
8. International conference on Ayurveda to be held on Kerala
9. International Teleradiology: The Future Of Radiologic Diagnosis
10. International Rating System To Be Introduced For Hospitals In India
11. John Mendelsohn M.D, chosen for an International Award
Post Your Comments:
(Date:11/29/2015)... ... 2015 , ... Doctors who missed a case of mesothelioma in a 70-year-old ... and push for a diagnosis, especially in people exposed to asbestos. Surviving Mesothelioma has ... it now. , Researchers at Gifu Prefectural Tajimi Hospital in Japan say ...
(Date:11/28/2015)... ... 28, 2015 , ... StatRad , a leading provider ... and Claude Hooton to its board of directors. The announcement comes as the ... Annual Meeting and continues to strategically transform its focus from being a teleradiology ...
(Date:11/28/2015)... CA (PRWEB) , ... November 28, 2015 , ... Pixel ... fully customizable media panels to choose from, the possibilities are endless. Users have full ... more. With the ProPanel: Pulse masking effects, users are sure to get heads to ...
(Date:11/27/2015)... Denver, CO (PRWEB) , ... November 27, 2015 , ... ... U.S. cities are not changing the way that they are handling security in light ... increasing police and security presence in an attempt to stop an attack from reaching ...
(Date:11/27/2015)... ... November 27, 2015 , ... "When I ... an inventor from Hillside, N.J. "Many people catch diseases simply from sitting on ... will always be protected from germs." , He developed the patent-pending QUDRATECS to ...
Breaking Medicine News(10 mins):
(Date:11/26/2015)... november 2015 AAIPharma Services Corp./Cambridge ... investering aan van ten minste $15,8 miljoen ... het mondiale hoofdkantoor in Wilmington, ... in extra kantoorruimte en extra capaciteit voor ... behoeften van de farmaceutische en biotechnologische markten. ...
(Date:11/26/2015)... -- --> --> Juntendo ... optimal contrast weighting of MRI for patients with Multiple ... research agreement with SyntheticMR in order to use SyMRI in ... possible to generate multiple contrast images from a single scan ... thus making it possible to both fine tune images and ...
(Date:11/26/2015)... , Nov. 26, 2015 Research ... addition of the "2016 Future Horizons and ... (TDM) Market: Supplier Shares, Country Segment Forecasts, Competitive ... --> --> ... analysis of the Japanese therapeutic drug monitoring market, ...
Breaking Medicine Technology: