PRA has more than 5,300 employees located in over 50 offices worldwide. Since 2000, PRA has performed approximately 2,000 clinical trials in over 80 countries on behalf of over 300 clients.
“PRA is a well-positioned global CRO platform led by a talented management team with a long track record of success. As one of the fastest growing companies in the CRO sector, PRA is known for its strong client relationships and differentiated therapeutic expertise. PRA management and KKR share the common ambition of building on this platform by continually improving service offerings to clients and providing compelling career opportunities for employees,” said Jim Momtazee, Member of KKR and Head of KKR’s Health Care investing team.
“This transaction marks the next stage of our evolution. With KKR as our new partner, we look forward to working with them to accelerate our innovation and growth while continuing to make a difference not only for our clients but also for our people,” said Colin Shannon, President and Chief Executive Officer of PRA.
The transaction, which is subject to regulatory approvals and other customary closing conditions, is expected to close in the third quarter of 2013.