Icon acquires Healthcare Discoveries

ICON, the Dublin-based clinical trials specialist, has acquired US pharmaceutical research company Healthcare Discoveries for an initial consideration of $12 million (€8.27m).

Icon, which is listed on New York’s Nasdaq market and has a large number of international offices spanning every continent, has agreed to pay Healthcare Discoveries current parent company — the Catalyst Pharma Group — up to another $10m (€6.9m) if certain performance targets are met over the course of this year.

“The acquisition of Healthcare Discoveries is an important step for us as it gives us a clinical pharmacology platform in the US to complement our existing European Phase I operations. As well as gaining an outstanding facility, we are bringing into Icon an experienced team,” said Icon chief executive Peter Gray.