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But the re-brand of PRA Health Sciences from PRA International strikes a different tone than most.
Today, the CRO formerly known as PRA International officially becomes PRA Health Sciences. If you are at DIA, you will see evidence of the re-branding, and this was a sneak peak from our June/July issue.
The name change to PRA Health Sciences is the culmination of several strategic actions that support and enhance the company’s commitment to the future of clinical development. Starting over 18 months ago, PRA strategically strengthened its coverage of China and created a joint venture with the leading clinical development firm in China, forming WuXiPRA. PRA then bolstered its capabilities in Russia and Eastern Europe by acquiring ClinStar, the premier provider of CRO services in Russia and Eastern Europe. With the subsequent acquisition of RPS, the pioneer of the Embedded Solutions™ model, PRA enhanced its ability to offer a more comprehensive breadth of services across all segments of the biopharmaceutical industry. At the close of 2013, PRA purchased CRI Lifetree, which augmented its existing Phase I and bioanalytical capabilities, cementing PRA as a comprehensive, high-end Phase I organization.
When the dust had settled, Colin Shannon, President and CEO of PRA Health Sciences saw they had become a 10,000 employee organization, working in 80 countries, with a strategic portfolio worthy of its standing as a Top 5 CRO. It was time to raise the bar. He assembled a team to begin the re-branding exercise, which interviewed employees on what PRA stood for.
Shannon told us that the theme convergence emerged and became the impetus for the re-brand. A complete name change was considered, however, Shannon said staying close to its Charlottesville roots, formed in 1982, was more important. But added the Health Sciences so that people automatically know what business they are in. “We are people, science, technology with a global presence,” explained Shannon. The logo, which PRA calls its convergence mark, symbolizes the bringing together of people, companies, expertise, technologies and other factors to converge into the best solution for its clients.
"The expansion of our global presence, the growth in our breadth of services, and the deepening of our capabilities we initiated over the last year-and-a-half enable us to better serve our clients," said Shannon in the press release issued today. "This change to our name reflects our historical roots as a scientifically rich company, the breadth and depth of our solutions, and most importantly, our dedication to working with sponsors to bring new treatments to market that will positively impact the lives of patients and their families.”
As one unified company with a broad range of specific expertise, PRA is well-equipped and intently focused on working to improve the lives of patients and providing innovative solutions that will drive the future of clinical development.
In addition to the new name, PRA is introducing a new online presence at: www.prahs.com