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Genstar Capital is selling the contract research firm PRA International to an investment fund managed by Kohlberg Kravis Roberts & Co. Raleigh, N.C.-based PRA provides regulatory and clinical trial development services to pharmaceutical companies. It employs more than 5,300 people at 50 sites. In 2007, Genstar acquired then publicly traded PRA for $797 million and has since expanded the firm. Although the parties involved didn’t disclose a sales price, published reports put it at approximately $1.3 billion.
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