Established in 1987, HCR is headquartered in Munich, Germany and operates across Europe, Israel and South America in addition to a US office in Princeton, New Jersey.
With the acquisition, Synteract will hold rights to a clinical in-patient unit in Germany and a clinical research training center in Belgium.
Synteract intends to combine operations to become a top tier global service provider.
The new combined company aims to connect with emerging to midsize biopharmaceutical companies, by using both Synteract’s and HCR’s consultative approach and clinical development expertise.
Synteract CEO Wendel Barr said, "Harrison Clinical Research is an exceptional fit for Synteract, uniting two well-respected players with longstanding drug development expertise to form a new global leader with enhanced scale and therapeutic breadth."
HCR chairman and founder Francisco Harrison said, "Our shared company cultures and flexible, customizable approaches to managing clinical trials make this a natural fit for us and ensure our clients will continue receiving the same expertise and excellent customer service worldwide."
The addition of HCR staff to Synteract will lead to an increased staff of over 800 in 16 countries.
The acquisition, which is expected to close early in the first quarter of 2013, is subject to customary closing conditions, which includes completion of final documentation and receipt of financing.