Conshohocken’s Symphony Health Solutions has been acquired by the clinical research organization PRA Health Sciences for $520 million, writes Joseph N. DiStefano for Philly.com.

The Montgomery County company was created by Silicon Valley investors from a number of firms mostly from suburban Philadelphia that were joined together as Symphony Health.

PRA’s integrated Dataverse has amassed medical information on more than 280 million patients since it began, including robust and multi-dimensional observations based on real world evidence.

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“Our use of data has been rising exponentially over the last years, and it became vital that we secure a strong dedicated data supply,” said PRA’s CEO, Colin Shannon.

He added that PRA is excited about the new relationship. They are looking forward “to helping Symphony Health continue to grow their existing business and working with them to expand geographically using PRA’s global footprint.”

According to PRA chief financial officer Linda Baddour, Symphony’s profit margin was 20 percent last year, before financial expenses. In addition, she said, the company has made significant investments in its systems, and will not need many more people to grow.

As part of the deal, Neal Bibeau will stay on as chief executive of Symphony Health.

Read more about Symphony Health’s acquisition at Philly.com by clicking here.

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