ICON completes takeover of Beacon Bioscience

22 January 2009

Dublin-based ICON plc (NASDAQ: ICLR; ISIN:IE0005711209), a global provider of outsourced development services to the pharmaceutical, biotechnology and medical device industries, has announced that it has completed the acquisition of the remaining 30% shareholding of Beacon Bioscience Inc.

ICON acquired a 70% stake in Beacon Bioscience in July 2004. Beacon Bioscience was renamed ICON Medical Imaging in 2007.

“Medical imaging is playing an ever-increasing role in the development of new drugs and treatments,” commented Peter Gray, CEO at ICON plc. “Through technology innovation, astute business management and a team of highly-skilled industry experts, ICON Medical Imaging has become a leader in its field. We believe that now is the right time to complete the acquisition of the remaining stake in the business.”

“Our partnership with ICON has provided us with the resources and global footprint to enable us to successfully grow our business,” commented Ted Gastineau, President and co-founder, ICON Medical Imaging. “We have developed the industry’s most innovative technology platform and have broadened our therapeutic expertise. The existing management team and I are looking forward to driving future developments that will maintain our leadership in the field of imaging services.”

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