PAREXEL APPOINTS SENIOR HEALTHCARE EXECUTIVE JOE AVELLONE TO CORPORATE VICE PRESIDENT OF CLINICAL RESEARCH OPERATIONS
BOSTON, MA, May 7, 2007 — PAREXEL International Corporation (NASDAQ: PRXL), a leading global bio/pharmaceutical services organization, announced today that it has appointed Joe Avellone, M.D. to the position of Vice President of Operations for Clinical Research Services, Americas. Dr. Avellone will lead operational aspects of PAREXEL’s Phase II-IV clinical development programs for clients, including project management, clinical operations, and management of the Americas Medical Affairs group. In addition to North America, his responsibilities will span PAREXEL’s extensive operations in Latin America, where the Company is one of the leading biopharmaceutical outsourcing organizations.
“Dr. Avellone’s extensive management experience, in-depth healthcare industry knowledge, and client focus will further strengthen our ability to deliver superior clinical development programs,” said Mark A. Goldberg, M.D., President of Clinical Research Services and Perceptive Informatics, PAREXEL. “We look forward to benefiting from the additional leadership depth Dr. Avellone adds to the senior management team, and his contributions in meeting our clients’ evolving clinical research needs.”
Prior to joining PAREXEL, Dr. Avellone was the former Chief Executive Officer of Veritas Medicine, a healthcare technology company supporting clinical research trials. Previously, he held senior management positions at Healthvision and served as Chief Operating Officer for BlueCross BlueShield of Massachusetts. With more than 20 years of experience in healthcare management, Dr. Avellone’s expertise includes establishment of strategic direction; developing and growing products, services and technologies; managing operations of major business lines; directing senior management teams; and managing major care networks and contractual relationships.
“I am pleased to be joining such a premier organization. Throughout its 25-year history, PAREXEL has demonstrated its ability to deliver successful clinical development programs to clients worldwide,” said Dr. Avellone, Vice President of Operations for Clinical Research Services, Americas, PAREXEL. “I look forward to working with such a high caliber team and continuing PAREXEL’s tradition of bringing innovative and efficient approaches to providing clinical research services.”
Dr. Avellone is a Fellow of the American College of Surgeons, having received his M.D. from the Harvard Medical School, and completed his General Surgery Residency at Brigham and Women’s Hospital. He also received a Master’s degree in Public Administration from the John F. Kennedy School of Government at Harvard University, and a Bachelor’s degree from Dartmouth College.
Dr. Avellone is based at PAREXEL’s worldwide headquarters in Waltham, Massachusetts.
About PAREXEL International
PAREXEL International Corporation is a leading global bio/pharmaceutical services organization, providing a broad range of knowledge-based contract research, medical communications and consulting services to the worldwide pharmaceutical, biotechnology and medical device industries. Committed to providing solutions that expedite time-to-market and peak-market penetration, PAREXEL has developed significant expertise across the development and commercialization continuum, from drug development and regulatory consulting to clinical pharmacology, clinical trials management, medical education and reimbursement. Perceptive Informatics, Inc., a subsidiary of PAREXEL, provides advanced technology solutions, including medical imaging, to facilitate the clinical development process. Headquartered near Boston, Massachusetts, PAREXEL operates in 55 locations throughout 43 countries around the world, and has over 6,315 employees. For more information about PAREXEL International visit www.PAREXEL.com.
This release contains "forward-looking" statements regarding future results and events, including, without limitation, statements regarding expected financial results, future growth and customer demand, such as the guidance provided by the Company with respect to the fourth quarter of Fiscal Year 2007, Fiscal Year 2007 and Calendar Year 2007. For this purpose, any statements contained herein that are not statements of historical fact may be deemed forward-looking statements. Without limiting the foregoing, the words “believes”, “anticipates”, “plans”, “expects”, “intends”, “appears”, “estimates”, “projects”, “targets” and similar expressions are also intended to identify forward-looking statements. The forward-looking statements in this release involve a number of risks and uncertainties. The Company's actual future results may differ significantly from the results discussed in the forward-looking statements contained in this release. Important factors that might cause such a difference include, but are not limited to, risks associated with: actual operating performance; actual expense savings and other operating improvements resulting from recent restructurings; the loss, modification, or delay of contracts which would, among other things, adversely impact the Company’s recognition of revenue included in backlog; the Company's dependence on certain industries and clients; the Company's ability to win new business, manage growth and costs, and attract and retain employees; the Company's ability to complete additional acquisitions and to integrate newly acquired businesses or enter into new lines of business; the impact on the Company’s business of government regulation of the drug, medical device and biotechnology industry; consolidation within the pharmaceutical industry and competition within the biopharmaceutical services industry; the potential for significant liability to clients and third parties; the potential adverse impact of health care reform; and the effects of exchange rate fluctuations and other international economic, political, and other risks. Such factors and others are discussed more fully in the section entitled "Risk Factors" of the Company’s Quarterly Report on Form 10-Q for the period ended December 31, 2006 as filed with the SEC on February 9, 2007, which “Risk Factors” discussion is incorporated by reference in this press release. The forward-looking statements included in this press release represent the Company’s estimates as of the date of this release. The Company specifically disclaims any obligation to update these forward-looking statements in the future. These forward-looking statements should not be relied upon as representing the Company’s estimates or views as of any date subsequent to the date of this press release.
PAREXEL is a registered trademark of PAREXEL International Corporation, and Perceptive Informatics is a trademark of Perceptive Informatics, Inc. All other names or marks may be registered trademarks or trademarks of their respective business and are hereby acknowledged.