Raleigh contract research company PRA Health bought by Irish firm for $12 billion
Raleigh-based PRA Health Sciences, one of the largest contract research companies in the Triangle, has been bought for $12 billion.
PRA said Wednesday it is entering into an agreement to be acquired by Icon, an Ireland-based contract research company.
PRA’s headquarters, which have been in Raleigh since 2008, will move to Dublin as part of the combined company, according to a news release.
Contract research organization are a big part of the Triangle’s life science industry. The companies, sometimes referred to as CROs, provide research and clinical services for other pharmaceutical and biotechnology companies.
But Triangle-based CROs have been targeted by competitors in recent years.
In 2016, Durham-based Quintiles was bought by IMS Health for $23 billion, The News & Observer previously reported. Shortly after, the company changed names to IQVIA, and it now has split headquarters between Durham and Connecticut.
This story will be updated.
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