The marriage between Quintiles and Novella Clinical became official Monday when the deal in which Quintiles (NYSE: Q) acquired its nearby rival closed.
Financial terms of the deal have not been disclosed.
However, Quintiles noted that it is “retaining” the existing Novella management team.
Novella will operate as a unit within Quintiles and is now known as “Novella Clinical, a Quintiles company.”
“We are extremely pleased to have completed the acquisition of Novella and look forward to working together to increase our collective opportunities with emerging oncology and medical device companies,” said Paula Brown Stafford, president, Clinical Development at Quintiles. “With the transaction now officially closed, we will focus our efforts on leveraging Quintiles’ global resources and capabilities with the expertise and personal attention of Novella to continue to deliver the high-quality services customers have come to expect from both companies.”
The deal was announced Aug. 14.
Novella has some 300 employees in the Triangle and 800 overall.
The primary focus for services at Novella is oncology, although as a contract research organization it also works with medical device and diagnostic services customers.
