The offer is subject to the approval of PRG shareholders.

Headquartered in Berkshire, PRG provides a range of clinical services, including the design and execution of clinical trials, to the pharmaceutical, biotechnology and medical device industries. The company has approximately 850 employees, with 17 operating facilities throughout Western, Central and Eastern Europe and 11 in the US.

ECI Partners’ Richard Chapman comments that the sector PRG operates in ‘is set to continue growing significantly at an estimated ten per cent per annum thanks to the non-cyclical nature of demand for healthcare in general and pharmaceuticals in particular’.

Chapman adds that he expects the company to expand by organic growth and further acquisitions.