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news.Global private equity firm Warburg Pincus affiliates entered into an agreement to buy ReSearch Pharmaceutical Services (RPS), a CRO that provides global Phase 1-4 clinical development solutions to the pharma, bio-tech and medical device industries, in an all cash transaction valued at $6.10 per share.
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RPS offers clients a broad spectrum of outsourcing solutions ranging from globally embedded functional and cross-functional solutions to enhanced global full-service solutions.
RPS CEO and chairman Daniel Perlman said in Warburg Pincus they have found a partner with both the financial strength and relevant industry experience to enable them to accelerate the execution of their growth strategy.
Warburg Pincus MD Jonathan Leff said they are delighted to partner with Dan Perlman and the management team at RPS
"Dan and his team have built and grown the company based on a pioneering vision and strategy. The company’s unique integrated outsourcing model has attracted many of the world’s leading pharmaceutical and biotechnology companies as customers, by delivering cost savings and enhanced flexibility while allowing customers to maintain control of their clinical trials," Leff said.
The transaction is expected to complete by February 2011.