Home >Companies >News >Parexel International to acquire Quantum Solutions

Mumbai: Parexel International Corp., a Boston-based clinical research organization, on Thursday said it will acquire the assets of Chandigarh-based Quantum Solutions India (QSI) for an undisclosed sum.

QSI provides specialized pharmacovigilance services, which involves collection, detection, assessment, monitoring and prevention of adverse effects with pharmaceutical products.

The acquisition is expected to close in early April subject to the satisfaction of closing conditions, Parexel said in a statement.

Established in 2004, QSI delivers a range of pharmacovigilance services including individual case safety report processing, brand physician activities, affiliate support, aggregate report writing, literature reviews, and signal detection.

The Indian company serves pharmaceutical, medical device and consumer clients across the globe, and has approximately 900 employees.

Josef von Rickenbach, chairman and chief executive officer of Parexel, said that the acquisition of QSI will strengthen the US company’s capabilities in the growing field of outsourced safety management solutions, or pharmacovigilance.

“It will help us to create greater scale in this service area, and thereby enable us to provide a more comprehensive, efficient, and economical solution to clients around the world," he said.

The purchase will be funded with existing cash and the impact of the acquisition on Parexel’s fiscal year 2015 revenue and earnings per share is not expected to be material, it said.

Parexel operates in 81 locations in 51 countries, and has about 16,530 employees.

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