Medical outsourcing provider Icon recorded an 18 per cent rise in net revenue to $1.12 billion (€839 million) and a high of $1.6 billion in new business in 2012.

The Dublin-based group also reported milestone revenues of $1.12 billion last year as it expanded its global presence with a number of acquisitions.

Icon completed its buyout of the clinical trial service division of Cross County Healthcare earlier this month, which will be combined with its DOCS group to create a global outsourcing group.

The acquisition followed its purchase of BeijingWits, one of China’s largest clinical research organisations.

Icon chief executive officer Ciaran Murray said: “In 2012 we saw the validation of our investment strategy as we won a record $1.6 billion of new business and reported milestone revenue of $1.12 billion and earnings per share of $1.”

He added: “Backlog grew 20 per cent to $2.8 billion, which along with continuing investment in capabilities, talent and innovation in drug development, provides a solid foundation for further growth in 2013.”

The firm additionally won new research contracts with global firms Shire and Roche in 2012.

Icon was established in Dublin in 1990, where its headquarters are based.

It employs 10,045 people worldwide.

Shares increased 1 per cent to 28.7 cent in early trade on the Nasdaq yesterday.