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Accenture agrees to acquire Octagon Research Solutions
Posted on Friday, 03 August 2012 10:23
Chicago-headquartered management consultancy Accenture has agreed to buy Octagon Research Solutions, a provider of pharmaceutical industry-focused information management solutions based in Pennsylvania.
As a result of the purchase, Accenture will widen its current offering to include clinical and regulatory services, while also expanding its business process outsourcing portfolio.
In addition, it will be able to help customers achieve regulatory submissions more efficiently, thereby allowing medicines to get to market more quickly.
David Boath, managing director of Accenture's life sciences division said: "Octagon's capabilities and experience will enable Accenture to provide comprehensive services spanning regulatory operations, submissions management, clinical data conversion and clinical data management.
“The acquisition will enable Accenture to offer what we view as the industry's first comprehensive regulatory services solution with a global footprint."
James Walker, chief executive of Octagon added: "The acquisition will strengthen our longstanding commitment to the pharmaceutical industry and provide clients with a comprehensive, global regulatory service that will deliver tangible business value."
Upon completion of the transaction, Octagon will become part of Accenture’s life sciences division.
Financial details of the acquisition, which is subject to regulatory approvals and is expected to complete within 60 days, have not been disclosed.
Octagon Research Solutions is based in Wayne and was formed in 1999, originally providing regulatory services to the life sciences sector.
The company launched Viewpoint, its enterprise process management solution, in 2003 and now operates four divisions: integrated solutions, integrated clinical solutions, business consulting and technology.
Accenture employs more than 249,000 people across 120 countries and recorded revenue of USD 25.50 billion for the fiscal year ended 31st August 2011.
The company is headed by chief executive Pierre Nanterme and has a presence throughout more than 200 cities.
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