ICON has announced that it has agreed to acquire MediMedia Pharma Solutions for a cash consideration of $120 million. The deal is subject to certain customary closing conditions. MediMedia Pharma Solutions is owned by Vestar Capital Partners.

MediMedia Pharma Solutions includes MediMedia Managed Markets and Complete Healthcare Communications. MediMedia Managed Markets is a leading provider of strategic payer-validated market access solutions.

"The need to demonstrate and communicate the value of new medicines is an important global healthcare trend. Through ICON's market leading commercialisation and outcomes group, we are supporting our customers to maximise the value of their new drugs. Our acquisition of MediMedia Pharma Solutions deepens the expertise of this group and brings us outstanding scientific and medical communications capabilities," said Mr Ciaran Murray, ICON CEO.

"The combination of the commercial, scientific, and market access expertise of MediMedia Pharma Solutions and ICON creates an unparalleled offering that can inform product investment decisions and establish and communicate product value. With the shift to evidence-based medicine and value-based pricing, we are excited about the expanded expertize and capabilities our relationship with ICON brings to our combined customers," said Mr Tim Search, president, MediMedia Pharma Solutions.