PRA Acquires CRI Lifetree

November 13, 2013

Company News Release

Acquisition Boosts PRA?s Global Phase I Presence

PRA

, a leading clinical research organization, today announced its intent to acquire privately held CRI Lifetree, a specialized research organization. CRI Lifetree focuses on the conduct and design of early stage, patient population studies, and is therapeutically focused in Human Abuse Liability (HAL), addiction, pain, psychiatry, neurology, pediatric and infectious disease services.

CRI Lifetree has a legacy of over 20 years in

clinical research

and has three Clinical Pharmacology Centers with a capacity of nearly 200 beds, making CRI Lifetree one of the largest providers of patient population Phase I and confined Phase II-III services in the United States. In particular, CRI Lifetree is the leading CRO among only a few centers in the world that have the ability to design and conduct HAL studies, a regulatory-required study for Central Nervous System (CNS) compounds.

The CRI Lifetree acquisition illustrates PRA’s dedication to growth, specifically in the area of Phase I-II services. The acquisition will enable PRA to provide its clients a full range of Phase I-II clinical research services in specialized patient populations for both inpatient and outpatient settings. The addition of CRI Lifetree to PRA’s existing Phase I and bioanalytical lab capabilities in the U.S. and Europe make it the most comprehensive, high-end Phase I organization in the world.

“CRI Lifetree highly complements PRA’s services and capabilities,” said Colin Shannon, president and CEO, PRA. “Together we are building a leading early Phase CNS platform capable of providing clients with a comprehensive set of specialized clinical services.”

“PRA’s Early Development Services (EDS) division and CRI Lifetree are a perfect fit,” said Willem Jan Drijfhout, executive vice president, EDS and managing director. “We both have a strong scientific foundation and now, with a total of 500 beds and eight Clinical Pharmacology Units, we will be able to bring our wide range of highly-specialized services to our clients as one of the largest Phase I organizations in the world.”

“There is a very strong cultural fit between CRI Lifetree and PRA,” said Jeffrey Kinell, CEO, CRI Lifetree. “Both companies share a dedication to scientific leadership, expansion of highly specialized services to meet the emerging needs of our clients, an uncompromising focus on quality, and a belief that our strength is in our people and the way in which they work together.”

CRI Lifetree has approximately 250 full-time employees, is headquartered in Mount Laurel, N.J., and has three clinic locations: Marlton, N.J., Philadelphia, Pa., and Salt Lake City, Utah, with a combined 194 beds. In addition to inpatient and outpatient studies, the company provides highly-specialized early phase research support services such as data management, biostatistics, and study report writing.