PharmaNet, Inc. and MEDEX Clinical Trial Services Join Forces
Princeton, NJ, August 2001 - PharmaNet, Inc., an international drug development company, has announced the acquisition of MEDEX Clinical Trial Services.
Founded in 1991, MEDEX is an Essington, Pennsylvania–based company that specializes in late-stage clinical development, data management, and medical writing services for the pharmaceutical and biotechnology industries.
"MEDEX has gained an excellent reputation as a provider of clinical services and is considered a leading authority in the design and conduct of post-marketing (Phase IV) clinical trials," said G. H. Besselaar, MD, PhD, Chairman of PharmaNet. "MEDEX significantly enhances PharmaNet's ability to offer Phase IV services, which is in keeping with our commitment to provide clients with the highest level of drug development expertise."
Under this new arrangement, Mr. Joseph McDevitt will remain President and Chief Executive Officer of MEDEX and will report to Mr. Jeffrey McMullen, Chief Operating Officer of PharmaNet. McMullen commented, "PharmaNet and MEDEX will provide clients with the highest possible levels of service and performance by building upon our similar cultures and philosophies."
MEDEX, which has a staff of approximately 140, has a solid client base and prides itself on maintaining long-term, preferred-vendor relationships. "This move will be a great benefit to MEDEX's current clients, in that they will be able to draw upon PharmaNet's extensive global resources and industry expertise," said Joseph McDevitt. "We are proud to be joining an organization with such a strong reputation for excellence and client focus."
Founded in 1996, PharmaNet, Inc. is an international drug development company dedicated to providing the highest level of expertise and client satisfaction to the pharmaceutical, biotechnology, and medical device industries. Now with over 600 employees in offices throughout the United States, Europe, and the Asia-Pacific region, PharmaNet provides a complete range of clinical development and consulting services including strategic planning, data management and biostatistics, medical writing, site management, and regulatory affairs.
Principals of Fairmount Partners acted as advisors to MEDEX Clinical Services in the transaction.
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