Headquartered in Highland Park, Illinois, Ovation serves a broad base of clients, including pharmaceutical, biotechnology and medical device companies
Icon, a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, today announced that it has entered into a definitive agreement to acquire Ovation Research, a patient registries, outcomes research and health economics firm.
Its service portfolio includes the design and conduct of prospective pharmacoeconomic and quality-of-life analysis, statistical analysis, disease and product registries and health outcomes research.
Commenting on the acquisition, Peter Gray, CEO of Icon, said: "Ovation has built up significant market experience in the areas of health outcomes research and patient registry services.
"This expertise will be integrated into Icon's late- phase group to strengthen our existing service offerings, in what is an increasingly significant market, particularly in the area of cost-effective long-term safety studies".
Jeff Trotter, president of Ovation, added "We are privileged to become part of Icon, given the strength of their people and services.
"Over the last 15 years, Ovation has established an ability to effectively balance science and strategy.
"Accessing Icon's resources will enable us to continue exceeding the needs of our clients in support of their increasingly global late-stage research initiatives.
"We believe the combination of Ovation and Icon will represent a new model for delivering late-stage services".
The transaction is currently expected to close early in the third quarter of 2006 and is subject to customary closing conditions.
