The purchase price was approximately $24m in addition to the possibility of $14.2m over twenty-six months if specific financial targets for Heron are achieved.
Heron has methodologies spanning a wide range of services that include strategic market access planning, systematic reviews, economic modeling and evaluation, pricing, reimbursement strategies, global value dossier writing, and engagement with Health Technology Assessment authorities.
Parexel chairman and CEO Josef von Rickenbach said that the acquisition of Heron further strengthens the company’s ability to offer its clients a full spectrum of services that aid in developing products.
Heron founder and new corporate vice president and worldwide head of Heron at Parexel John Kerrigan said that combining with Parexel will provide the company the ability to introduce its services in the product development process, and to leverage Parexel’s broad global presence.