425 1 tm217814d28_425.htm 425

 

Filed by PRA Health Sciences, Inc. pursuant to

Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: PRA Health Sciences, Inc.

Commission File No. 001-36732

Date: March 16, 2021

 

The following communication was made available by PRA Health Sciences, Inc. to its new and existing clients on March 16, 2021.

 

PRA + ICON Biotech

Key Messaging for New and Existing Clients

Updated: March 16, 2021

 

·ICON’s acquisition of PRA will bring together two strong, client-focused companies who will be in the best position to meet market demands.
oAfter closing, the combined company will provide clients with broader service offerings, greater therapeutic depth and geographic coverage, and enhanced clinical and commercial solutions.
oThe union is a proactive, long-term growth venture by both companies and had a specific focus on the biotech segment.
§This was NOT a short-term, staffing-based transaction.
oLeaders from PRA and ICON have agreed to the post-closing approach for the combined organization in serving the biotech industry. Until closing, PRA and ICON remain separate and independent companies.
·PRA and ICON’s expertise in biotech will be carried into the new combined organization, and meeting the unique needs of this segment will be a critical component of the post-closing business strategy.
oPRA and ICON’s biotech operating models are strong but flexible, with customizable end-to-end solutions that fit the unique needs of our partners. This will remain the same.
oPRA and ICON have delivered purpose-built solutions for biotech partners, always taking into consideration project fit and chemistry among team members. The combined organization will continue to do this.
oOur priority: Superior client service with human expertise and attention will enable a seamless continuation of our partnership.

·Biotech is in PRA’s DNA. PRA’s expertise in biotech will be carried into the new combined organization; meeting the unique needs of this segment will be a critical component of the business strategy after closing.

oPRA’s biotech operating model is strong but flexible, with customizable end-to-end solutions that fit the unique needs of our partners. This will remain the same.

oSince the beginning, PRA has delivered purpose-built solutions for biotech partners, always taking into consideration project fit and chemistry among team members. The combined organization will continue to do this.

oOur priority now and after the closing of the acquisition: Superior client service with human expertise and attention will enable a seamless continuation of our partnership.

·After the deal closes, there will be a consistent and recognizable approach to the biotech model, but with best-in-class solutions and capabilities from both organizations as appropriate for any specific client or project.
oBoth ICON and PRA are committed to continuity for biotech customers and their projects, while also focused on delivering high quality data and meeting milestones. 
oThe combined entity will be committed to maintaining access to key company leadership as biotech has become accustomed to.
oWe will retain our high-touch executive oversight and availability.
oThe General Partner model will remain intact, and biotech partners will retain their study teams.
oJust like with the project teams, customers can also expect continuity in MSAs and contracts as well as processes and systems for their respective projects.

 

 

 

 

·A dedicated integration planning team is being formed to guide the two companies during this time of transition.
oAt every level, both PRA and ICON will be represented, and team members with biotech expertise will be included in planning.
oIntegration of two, large publicly traded companies will be done in a considered manner and will take time; we do not expect any changes prior to closing and no large-scale changes in 2021, even after the deal closes later this year.
oAny changes that occur after closing will be done collaboratively with careful consideration of client leadership and the needs of each project.
oAlthough we are only in the integration planning stages, we are laser focused on ensuring that there are no disruptions to continuing projects.
oBoth companies are in strong growth phases and are continuing to hire at an aggressive pace to continue to meet the demands of our clients.
·Positive change is part of PRA and ICON’s culture.
oBoth organizations and their global employee base accept and embrace change as part of growth process.
§Both have a history of acquisitions and bringing new teams and solutions onboard smoothly and efficiently.
oPRA and ICON are separately pursuing retention strategies to encourage team stability and collaboration.
oEmployees from both companies have been fully briefed on the acquisition, and they will be informed of new information as it becomes available.
·Both companies have committed to the highest levels of customer service – during the planning process and after the new company is formed.
oPlease always feel comfortable contacting your day-to-day contact or the leadership team at PRA to discuss your business and ask questions.
oWe are here to assist you and ensure that your work is prioritized.