Parexel, Lansal Clinical Pharmaceutics Ltd., State and Federal Associates Inc. deal

PRXL acquired two companies. State and Federal Associates (S&FA), which provides strategic consulting services and marketing and sales support to the health care industry, was acquired in exchange for $20 million of PRXL stock. Lansal, a contract research organization, was purchased for an undisclosed amount of PRXL common.

SF&A generated revenues of $8.7 million in 1995, while Lansal was profitable on revenues of more than $500,000, according to PRXL. ...