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inVentiv Buys PharmaNet

Move adds global clinical network to CRO

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By: Tim Wright

Editor-in-Chief, Contract Pharma

inVentiv Health, Inc. has signed an agreement to acquire PharmaNet Development Group, Inc. from private equity owner JLL Partners. The transaction is expected to close by June 30, 2011. Financial terms were not disclosed. JLL bought PharmaNet in 2009. In January 2011, inVentiv acquired i3, another CRO. After both of those deals close, inVentiv will have 13,000 employees across three divisions: Clinical, Commercial and Consulting. More than 6,000 employees will be in clinical research worldwide,...

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