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PRA Health Sciences unit closes acquisition of Symphony Health Solutions

PRA Health Sciences Inc. unit Pharmaceutical Research Associates Inc. completed the acquisition of Symphony Health Solutions Corp.

Under the agreement, Pharmaceutical Research Associates paid about $530 million in cash for the outstanding equity of Symphony Health, subject to customary post-closing adjustment.

Symphony Health became a wholly owned subsidiary of Pharmaceutical Research Associates after the completion of the deal.

Pharmaceutical Research Associates may be required to make additional payments to the prior equity holders of Symphony Health pursuant to an earnout provision that is based on Symphony Health exceeding financial targets for 12-month periods ending December 2017 and December 2018.