Price Bailey advises on the sale of Diamond Pharma Services to US-based ProPharma Group

3 mins

Diamond Pharma Services, a British pharmaceuticals consultancy specialising in compliance and regulation, has been acquired by ProPharma Group, the world’s leading provider of compliance and regulatory expertise to pharmaceutical, biotechnology, and medical device companies. Price Bailey, the top 30 accountants, advised Diamond Pharma Services on the sale.

Diamond Pharma Services provides regulatory affairs, pharmacovigilance, and compliance & quality services to support pharmaceutical and biotechnology companies in obtaining and maintaining medicinal product licenses throughout all stages of a product’s life cycle.

Founded in 2005 Diamond Pharma Services is headquartered in Harlow, Essex, employs over 70 staff and serves clients from the very small and virtual, through to large multinational pharmaceutical companies. The company has satellite offices in London and Cambridge, Amsterdam, Dublin, and Cambridge-Boston (US).

Phil Sharpe, Partner at Price Bailey, comments: “We have seen a surge of interest by foreign buyers in acquiring UK companies over the past year. This deal is a good illustration of that trend and shows that the fundamentals of the UK economy remain sound post-Brexit. The UK continues to be regarded as a stepping-stone to Europe, and the conclusion of a Brexit trade deal, together with favourable exchange rates, has released a lot of pent-up demand from foreign buyers.”

Dawn Sherman, ProPharma Group’s CEO, comments: “We are excited to welcome Diamond Pharma Services into the ProPharma Group family. This acquisition further solidifies ProPharma Group’s position as the leading global provider of regulatory, compliance, pharmacovigilance, and medical information services. With our mission and higher purpose of improving the health and safety of patients, we are focused on delivering the highest quality of services throughout the full product lifecycle.”

Maureen Graham, Founder, Diamond Pharma Services, comments: “Joining forces with ProPharma Group offers a fantastic opportunity to enhance the ways in which our teams can bring value to our customers, working together to improve the health and safety of patients. Our complementary experience and expertise will allow us to bring even more depth and breadth to the services we provide our clients.”

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NOTES TO EDITORS

About Price Bailey

Price Bailey is a top 30 accountancy practice specialising in providing accountancy, tax and business advice to enable the growth of regional, national and international businesses. In addition to traditional accounting services, the firm has a range of specialists in many areas which combine to provide a complete, integrated business offering. These include tax consultancy, corporate finance, strategic planning, insolvency & recovery and employment law.

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