HONG KONG, BOSTON and DURHAM, N.C.—Parexel International, a leading provider of solutions to accelerate the development and delivery of innovative new therapies from clinical through to commercialization, announced today the expansion of its capabilities to optimize drug development and commercialization in the Asia/Pacific region through a new Hong Kong presence established by its strategic healthcare consulting subsidiary, Health Advances.
“For both local companies in Asia/Pacific and global companies looking to expand into the region, taking advantage of the rapid economic growth in the local healthcare market requires thoughtful and strategic business decisions,” said Paula Ness Speers, Health Advances’ co-founder and managing director. “Building on our long history of helping companies explore and evaluate opportunities in the Asia/Pacific region and assisting locally-based companies looking to expand beyond their borders, we’re excited to have part of our consulting team now based full-time on the ground in the region to readily support customers in this growing market.”
The opening of Health Advances Asia Limited will leverage the firm’s 20+ years of experience in the Asia/Pacific region to help local and multi-national companies looking to expand their global footprint. Health Advances’ locally-based, multilingual Hong Kong team will be led by Gary Cheng, who joins Health Advances with more than 30 years of experience in the pharma, biotech, and medtech industries with such companies as Novartis, BD, Chiron Corporation, Alere and Aventis (acquired by Sanofi). Vivek Mittal, a long-time partner at Health Advances in its San Francisco office, is also based in Hong Kong now and will work closely with Cheng and the rest of the team to assist clients with their business needs.
“Under Vivek and Gary’s leadership, our local team is well-equipped to help clients across the healthcare sector, including biopharmaceutical, medtech, diagnostics, health IT and digital health, and healthcare services as well as investors in healthcare businesses understand and capitalize on both local and global opportunities,” Speers continued.
Health Advances provides business strategy, scientific and clinical expertise along with extensive knowledge of product development considerations, referral patterns and economic conditions that can impact the adoption of healthcare products and services. Health Advances’ strategic consulting is a key component of Parexel Biotech, the company’s division focused on helping emerging companies chart the fastest, most efficient course to accomplish their drug development goals. Health Advances’ local team, along with its more than 160 global employees, will provide strategic consulting support to the healthcare industry across Asia/Pacific, including Greater China, Japan, South Korea, Australia, India and South East Asian Countries.