PAREXEL Makes an Acquisition

PAREXEL has purchased a complementary asset. The company announced it bought the entirety of HERON Group, a life sciences consultancy that according to PAREXEL "provides evidence-based commercialization services to support biopharmaceutical companies throughout the lifecycle of their products."

The immediate cost of the acquisition was $24 million, which was funded through PAREXEL's existing cash resources. The company might pay an additional $14.2 million over the next 26 months if HERON meets certain financial targets.

HERON was established in 1999, is headquartered in Luton, U.K., and employs around 140 people. Prior to the PAREXEL acquisition, it was privately owned.

The article PAREXEL Makes an Acquisition originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in PAREXEL, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.