Parexel
↗Raleigh, North Carolina, USA
Parexel is a leading global contract research organization (CRO) that conducts clinical trials and provides comprehensive biopharmaceutical development services on behalf of pharmaceutical and biotechnology clients. Founded in 1982 and headquartered in Raleigh, North Carolina, Parexel operates across 100+ countries with approximately 21,000 employees worldwide. The company offers end-to-end solutions throughout drug development, from portfolio optimization and regulatory strategy to Phase I-IV clinical trials, market access planning, and real-world evidence services. Parexel specializes in complex therapeutic areas including oncology, neuroscience, immunology, rare diseases, infectious diseases, vaccines, and cell and gene therapies.
As one of the world's largest CROs, Parexel combines clinical expertise with advanced technology and AI capabilities to accelerate drug development timelines. The company is distinguished by its team of over 80 ex-regulatory agency professionals (FDA, EMA, NMPA, MHRA, and others) and maintains a global network of nearly 2,500 clinical sites. Currently owned by EQT Private Equity and Goldman Sachs Asset Management since November 2021, Parexel continues to drive innovation in clinical research through strategic partnerships with technology companies and healthcare providers.
CLASSIFICATION
Company Type:CRO
Therapeutic Areas:
Industry:Contract Research Organization (CRO)
Sub-Industry:Clinical development, regulatory consulting, real-world evidence
SIZE & FINANCIALS
Employees:10000+
Revenue:$2.4B-$2.5B
Founded:1982
Ownership:private
Status:acquired
FUNDING
Investors:EQT Private Equity (EQT IX Fund), Goldman Sachs Asset Management (Private Equity Business)
PIPELINE
Stage:Phase I-IV (as a CRO, Parexel manages client pipelines, not its own)
Lead Drug Stage:N/A - Parexel is a CRO and does not develop its own drugs
Modalities:Small molecule, Monoclonal antibodies, Cell therapy, Gene therapy, Biologics
CORPORATE STRUCTURE
Parent Company:EQT Private Equity / Goldman Sachs Asset Management
Acquired By:EQT Private Equity and Goldman Sachs Asset Management (2021-11-01)
Key Partnerships:Palantir Technologies - AI partnership for clinical data platform and trial acceleration (2024), Weave Bio - AI regulatory automation partnership for IND applications (2025), Paradigm Health - AI-powered clinical trial design and execution platform partnership (2025), Medidata Solutions - Clinical trial data management collaboration
COMPETITION
Position:Leader
Competitors:IQVIA, Syneos Health, PPD (owned by Thermo Fisher), ICON, Medpace, Fortrea (formerly Labcorp Drug Development), Charles River Laboratories, Covance +2 more
LEADERSHIP
Key Executives:
Peyton Howell - Chief Executive Officer
Greg Rush - Chief Financial Officer
Kushal Gohil - Chief Strategy Officer
Jonathan E. Shough - Chief Information Officer
Mike D'Ambrosio - Senior Vice President, Global Head, Real World Research
Sheri McCoy - Chairperson, Board of Directors
Scientific Founders:Anne B. Sayigh, Josef von Rickenbach
Board Members:Sheri McCoy (Chairperson), Eric Liu (Co-Head of Private Capital and Global Co-Head of Healthcare, EQT), Jeff Bernstein (Partner, Private Equity, Goldman Sachs Asset Management), Peyton Howell (CEO), Bill Chase, John Groetelaars, Maykin Ho, Susan Salka
LINKS
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