Completion of Acquisition

 

TIDMRPSE 
 
RNS Number : 3446V 
Research Pharmaceutical SRV, Inc 
08 July 2009 
 

July 8, 2009 
 
 
 
 
ReSearch Pharmaceutical Services, Inc. ("RPS") 
 
 
RPS Announces Completion of Acquisition of Paramax International Inc. and 
Expansion of RPS' Global Capabilities into China ("Paramax") 
 
 
Further to the announcement made on March 30, 2009, RPS is pleased to announce 
that, following satisfaction of the closing conditions, it has today completed 
the acquisition of Paramax. 
 
 
The acquisition of Paramax provides the company with expanded capabilities in 
the Asian market and complements its current operations in the Americas and 
Europe. The continued global expansion of RPS gives the Company greater scale to 
meet the growing needs of its customers in the rapidly expanding market for 
global clinical development and integrated clinical research services. Paramax 
has headquarters in Beijing, China and will serve as the Company's Asian base of 
operations as it continues its planned expansion across Asia. 
 
 
As part of the consideration, RPS issued 530,973 shares of common stock, par 
value 0.0001 per share. These shares will be held in escrow and released in 
three equal portions on October 7, 2009, July 7, 2010 and January 7, 2011 (being 
the three month, 12 month and 18 month anniversaries of completion) subject 
among other things to there being no claims for indemnification then 
outstanding. Any shares not released from escrow to Paramax's shareholder will 
be returned to RPS for cancellation or to be held in treasury. Application will 
be made later today for the admission of these shares to trading on AIM 
("Admission") and dealings in the new shares are expected to commence on July 
14, 2009.  The new shares shall, upon issuance, rank pari passu with RPS' 
existing issued shares. 
 
 
Following Admission, RPS will have outstanding 37,277,808 Shares and 1,357,179 
Warrants (as defined in the Company's Readmission Document dated June 5, 
2007)(1). 
 
 
(1)    These shares exclude the remaining 186,667 Unit Purchase Options and 
approximately 2.9 million employee stock options which also remain outstanding. 
 
 
 
 
For further information please contact: 
 
 
ReSearch Pharmaceutical Services, Inc.    [phone] 
Dan Perlman, Chief Executive Officer 
Steven Bell, Chief Financial Officer 
 
 
Nominated Adviser and UK Broker          [phone] 
Arbuthnot Securities Limited 
James Steel / Ed Burbidge 
 
 
 
 
About RPS 
RPS was incorporated in Delaware on January 30, 2006, while its subsidiary and 
operating company, ReSearch Pharmaceutical Services, LLC, and its predecessors 
have been in existence since 1994. Headquartered in Ft. Washington, 
Pennsylvania, with subsidiary offices across Latin America, Europe and now 
China, RPS is a next generation CRO and a leading provider of integrated 
clinical development outsourcing solutions to the bio-pharmaceutical industry. 
RPS provides services in connection with the design, initiation and management 
of clinical trials programs that are required to obtain regulatory approval to 
market bio-pharmaceutical products. RPS' innovative business model combines the 
expertise of a traditional CRO with the ability to provide flexible outsourcing 
solutions that are fully integrated within RPS' clients' clinical drug 
development infrastructure. This approach was designed to meet the varied needs 
of small, medium and large bio-pharmaceutical companies. 
 
 
 
 
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 
This document contains "forward-looking statements" within the meaning of the 
U.S. Private Securities Litigation Reform Act of 1995. Forward-looking 
statements can be identified by words such as "anticipates", "intends", "plans", 
"seeks", "believes", "estimates", "expects" and similar references to future 
periods, or by the inclusion of forecasts or projections. Forward-looking 
statements are based on the Company's current expectations and assumptions 
regarding its business, financial condition, the economy and other future 
conditions. Because forward-looking statements relate to the future, by their 
nature, they are subject to inherent uncertainties, risks and changes in 
circumstances that are difficult to predict. The Company's actual results may 
differ materially from those contemplated by the forward-looking statements. The 
Company cautions you therefore that you should not rely on any of these 
forward-looking statements as statements of historical fact or as guarantees or 
assurances of future performance. Important factors that could cause actual 
results to differ materially from those in the forward-looking statements 
include our ability to successfully consummate acquisitions, our ability to 
successfully integrate acquired companies; regional, national or global 
political, economic, business, competitive, market and regulatory conditions 
including: our ability to identify liabilities associated with RPS; our ability 
to manage pricing and operational risks; our ability to manage foreign 
operations; changes in technology; and our ability to acquire or renew 
contracts. Any forward-looking statement made in this document speaks only as of 
the date on which it is made. Factors or events that could cause the Company's 
actual results to differ may emerge from time to time, and it is not possible 
for the Company to predict all of them. The Company undertakes no obligation to 
publicly update any forward-looking statement, whether as a result of new 
information, future developments or otherwise, unless otherwise required to do 
so by law or regulation. 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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