Clinical research firm Icon has announced the acquisition of British company Medeval Group Ltd.
Icon will pay $15.5m up front in the deal and a further $7m over the next 18 months if profit targets are met.
Icon is a global clinical research organisation, with 27 offices in 16 countries and, with this acquisition, has over 2,200 employees worldwide.
Medeval specialises in conducting phase 1 clinical trials of new drugs at an 80-bed purpose built facility in Manchester.