SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
March 31, 1999
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PAREXEL International Corporation
(Exact name of Registrant as specified in its charter)
Massachusetts 0-27058 04-2776269
(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification Number)
incorporation or
organization)
195 West Street, Waltham, Massachusetts 02451
(Address of principal executive offices) (Zip Code)
(781) 487-9900
(Registrant's telephone number
including area code)
Item 5. Other Events
On March 31, 1999, PAREXEL International Corporation (the "Company"),
issued a press release, attached hereto as Exhibit 99.1, to announce
the acquisition of Groupe PharMedicom S.A.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(a) Financial Statements of Business Acquired: not applicable.
(b) Pro Forma Financial Information: not applicable.
(c) Exhibits 99.1 Press Release of the Company, dated
March 31, 1999
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized, on this 9th day of April, 1999.
PAREXEL INTERNATIONAL CORPORATION
Dated: March 31, 1999 By: /s/ Carl F. Barnes
Carl F. Barnes
Vice President and General Counsel
<PAGE>
EXHIBIT 99.1
FOR IMMEDIATE RELEASE
CONTACT:
Bill Sobo, Senior Vice President, Chief Financial Officer
(781) 487-9904, ext. 4310
PAREXEL ACQUIRES GROUPE PHARMEDICOM
Boston, MA, March 31, 1999 -- PAREXEL International Corporation (Nasdaq: PRXL)
announced today its acquisition of Groupe PharMedicom, a leading French provider
of post-regulatory approval marketing support studies and regulatory services to
pharmaceutical manufacturers. Groupe PharMedicom's Cercles & Biostat division
provides clients with specialized market support services that extend the
knowledge of drugs' efficacy and safety through practical day-to-day studies in
targeted patient populations. In addition, Cercles & Biostat is a recognized
leader in the design of medical software for general practitioners and
specialists intended to improve patient medical records and to collect
structured and validated data into a large database.
The Droit & Pharmacie division of Groupe PharMedicom provides technical
consulting, legal and regulatory analysis, expert regulatory advice and liaison
with regulators, specialized surveys, and dossiers for registration,
transparency and pricing consulting, having built an excellent reputation with
many pharmaceutical companies over the past 40 years. In addition, Droit &
Pharmacie is the publisher of respected pharmaceutical bulletins and reports
that focus on the French and worldwide pharmaceutical industry. With this
acquisition, PAREXEL has significantly increased its post-regulatory approval
studies capability in France and expanded its worldwide regulatory affairs
practice.
PAREXEL issued approximately 199,600 shares of its common stock in exchange for
all of the outstanding stock of Groupe PharMedicom. Groupe PharMedicom which is
based in Paris and Orleans employs approximately 70 people.
"As the leading European clinical research and regulatory consulting provider,
we are delighted to further enhance our abilities and skills through the
acquisition of PharMedicom, and we look forward to an exciting and expanding
future with our new employees from Cercles & Biostat and Droit & Pharmacie,"
said Barry R. Philpott, President of European Operations at PAREXEL.
"The integration of Cercles & Biostat into PAREXEL is the best way to increase
our post-marketing activity and to launch and enhance our new range of tools,
which utilize advanced communications technologies to provide services to
patients, practitioners and pharmaceutical companies," said Herve Laurent,
President of Cercles & Biostat. "Our new relationship with PAREXEL will also
enhance Droit & Pharmacie's response to the accelerated globalization of our
clients' activities, particularly in the countries of the European Union,"
offered Philippe Conquet, President of Droit & Pharmacie and Chairman of Groupe
PharMedicom.
PAREXEL is a leading contract research and contract marketing organization
providing a broad range of knowledge-based outsourcing services to the worldwide
pharmaceutical, biotechnology and medical device industries. Over the past
fifteen years, PAREXEL has developed significant expertise in clinical trials
management, data management, biostatistical analysis, contract marketing,
clinical pharmacology, regulatory and medical consulting, industry training and
publishing, and other drug development consulting services. The Company's
integrated services, therapeutic area depth, and sophisticated information
technology, along with its experience in global drug development and product
launch services, represent key competitive strengths. Headquartered near Boston,
MA, PAREXEL has 45 offices with staff located throughout 25 countries around the
world.
This release may contain statements which may be "forward-looking" statements
under federal law. The Company's actual results may differ significantly from
the results discussed in the forward-looking statements. Factors that might
cause such a difference include, but are not limited to: risks associated with
the loss or delay of large contracts; the Company's dependence on certain
industries and clients; management of growth and the ability to attract and
retain employees; acquisitions; integration of newly acquired businesses;
government regulation of certain industries and clients; and competition or
consolidation within the industry. These factors and others are discussed more
fully in the section entitled "Risk Factors" of the Company's Quarterly Report
on Form 10-Q for the quarter ended December 31, 1998.
