Overland Park, Kansas, May 13, 2015 – ProPharma Group, a comprehensive compliance services company serving the pharmaceutical, biotechnology, and medical device industries, today announced its acquisition of PROSAR, a provider of pharmacovigilance and medical information services. This acquisition brings PROSAR together with international medical information service provider, PI ARM, a wholly-owned subsidiary of ProPharma Group.
Headquartered in St. Paul, Minnesota, PROSAR provides global pharmacovigilance and medical information services throughout the U.S., Canada, Europe, and other regions of the world. PI ARM currently provides global Medical Information services in approximately 30 different languages worldwide from its offices in Overland Park, Kansas, Richmond, England, and Melbourne, Australia.
This strategic consolidation integrates PROSAR’s pharmacovigilance capabilities with PI ARM’s globally-integrated, multi-lingual medical information capability to provide an industry-leading service offering to clients.
The core services now provided through PROSAR and PI ARM include:
Commenting on the acquisition, Jeff Hargroves, President of ProPharma Group, said: “The people and capabilities added by PROSAR are a critical addition as we build out our global compliance services offering to serve the ever-expanding needs of our clients. The success that PROSAR has achieved with their client satisfaction and steady growth is a great combination with ProPharma Group.”
Following the acquisition, Steve Swantek, CEO of PROSAR, and Ann Claridge, COO of PROSAR, will continue as key leaders in the ProPharma Group organization. “We believe that integrating our global pharmacovigilance services with PI ARM’s global medical information services creates significant additional value for our clients,” said Steve Swantek.
First Analysis Securities Corporation acted as the exclusive financial advisor to PROSAR in this transaction.