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Pracs Institute

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US pharmaceutical company

PRACS Institute, Ltd., established in 1983, is a company that tests new or developing types of medicine. Its CEO is Dr. James Carlson, a former pharmacy professor at North Dakota State University. The company currently has locations in East Grand Forks, Minnesota, and Fargo, North Dakota.

In February 2006, PRACS announced it would become a wholly owned subsidiary of Contract Research Solutions (CRS). CRS was formed as a holding company by investors, including Carlson and two others: KRG Capital Partners, and the Weinberg & Bell Group. In August 2006, CRS announced the acquisition of Gateway Medical Research, a St. Louis–based competitor of PRACS. CRS also announced in late 2006 that it had acquired Ba Research International of Houston, Texas. The three companies (PRACS, Gateway and Ba) will combine their operations under the name Cetero Research.

On October 5, 2006, Dr. Carlson announced a $1 million pledge to the city of Fargo towards the construction of a new branch of the city's public library. The project (with a total cost of $2.5 million) will be named the "Dr. James D. Carlson Library".

On March 20, 2013, PRACS laid off its employees in Fargo, St. Louis, and Toronto after filing for chapter 7 bankruptcy.

References

  1. "Hundreds of PRACS Employees Out of Work". Archived from the original on 2013-03-24. Retrieved 2013-06-05.
  2. "After Bankruptcy, PRACS Institute (Formerly known as Cetero Research) Lays Off Workers". Retrieved 2013-06-05.
  3. "CRO that emerged from Cetero bankruptcy closes, lays off workers". Retrieved 2013-06-05.
  4. "St. Louis Research Facility Abruptly Closes Its Doors". Retrieved 2013-06-05.
  5. "Trial participants looking for payments after research company shuts down". Retrieved 2013-06-05.
  6. "Hundreds lose jobs as PRACS Institute shuts down". Archived from the original on 2013-10-06. Retrieved 2013-06-05.
  7. "The PRACS Institute Has Shut Down According to Media Reports". Retrieved 2013-06-05.


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