Perficient Buys BioPharm Systems; Expects To Be Accretive To Adj. EPS

(RTTNews) - Perficient Inc. (PRFT) announced it has acquired BioPharm Systems, Inc., a global IT consulting and managed services provider that focuses on the life sciences industry. The closing consideration paid in the transaction is approximately $17.6 million and includes approximately $11.4 million in cash and approximately $6.2 million worth of Perficient common stock.

Perficient said its annualized revenues are now approaching $450 million, and the transaction is expected to be accretive to adjusted earnings per share immediately.

BioPharm Systems has extensive experience in the implementation, integration, migration, upgrade, and hosting of clinical trial management, drug safety and pharmacovigilance, clinical data management, electronic data capture, and healthcare systems. Headquartered in California, BioPharm Systems has offices in the United States and the United Kingdom.

Jeffrey Davis, Perficient's CEO and president, said: "We're excited to add to our industry capabilities with the acquisition of a reputable and growing life sciences consulting firm. With the addition of BioPharm Systems, Perficient has strengthened our ability to create even more powerful management and IT consulting solutions for our healthcare and life sciences customers. Furthermore, BioPharm Systems brings impressive bill rates and margins, important intellectual property assets and a proven track record of growth, profitability and client satisfaction."