Charles River Associates (CRA) Strengthens Capabilities in Life Sciences

New Vice President Jeffrey Aroy Brings Background in Life Sciences Consulting Across Multiple Practice and Therapeutic Areas

BOSTON--(BUSINESS WIRE)--Charles River Associates (NASDAQ: CRAI), a worldwide leader in providing management, economic, and financial consulting services, today announced that Jeffrey Aroy has joined the firm as a vice president in the Life Sciences Practice based in Boston. Mr. Aroy has more than 20 years of experience as a consultant and executive in the life sciences industry.

“Jeffrey Aroy’s knowledge of the clinical and commercial pillars of the life sciences industry is an excellent complement to CRA’s life sciences offering and we are pleased to welcome him to CRA”

“Jeffrey Aroy’s knowledge of the clinical and commercial pillars of the life sciences industry is an excellent complement to CRA’s life sciences offering and we are pleased to welcome him to CRA,” said CRA's President and Chief Executive Officer Paul Maleh. “Jeff has direct industry experience, as a founder and leader of multi-million dollar life sciences companies, as well as an extensive consulting background where he has advised on corporate strategy issues and strategic marketing concerns throughout the product life cycle. His comprehensive knowledge of the industry dovetails with the expertise clients seek from CRA.”

Mr. Aroy’s consulting practice focuses on growth strategies in life sciences, with emphases on product launch, portfolio prioritization, companion diagnostic, and emerging markets strategies. He has deep expertise in multiple therapeutic areas and has worked across industry sectors covering large pharma, biotech, medical devices, and diagnostics. Mr. Aroy joins CRA from Leerink Swann where he was a Senior Managing Director and business unit head of Leerink’s professional consulting practice. Mr. Aroy’s responsibilities included developing and leading some of Leerink’s significant relationships with large life sciences companies.

In addition, Mr. Aroy has executive experience as a leader of two growth-stage diagnostics companies, both of which were acquired for a combined half billion dollars. As General Manager at Berkeley HeartLab, he managed a $60 million business focused on advanced cardiovascular products and was responsible for sales, marketing, and establishing a network of clinics, among other areas. As Chief Operating Officer of Cholestech, a point-of-care cardiovascular testing company, Mr. Aroy drove growth by forming novel partnerships with pharmaceutical companies to help increase diagnosis and treatment of heart disease.

Mr. Aroy previously worked in healthcare consulting for such firms as IBM Global Services/The Wilkerson Group and Deloitte. Mr. Aroy holds an MBA degree in Strategic Management from The Wharton School of the University of Pennsylvania and a BS degree in Economics from Harvard University.

About CRA’s Life Sciences Practice

For more than 30 years, CRA has consulted directly with major life science corporations, the governmental agencies that regulate them, and legal counsel to these firms. CRA’s Life Sciences Team combines deep industry focus with superior analytical tools to help clients address critical strategy, litigation, and policy issues.

About Charles River Associates (CRA)

Charles River Associates® is a global consulting firm specializing in litigation, regulatory, and financial consulting, and management consulting. CRA advises clients on economic and financial matters pertaining to litigation and regulatory proceedings, and guides corporations through critical business strategy and performance-related issues. Since 1965, clients have engaged CRA for its unique combination of functional expertise and industry knowledge, and for its objective solutions to complex problems. Headquartered in Boston, CRA has offices throughout the world. Detailed information about Charles River Associates, a registered trade name of CRA International, Inc., is available at http://www.crai.com.

Statements in this press release concerning Jeffrey Aroy, any future business Mr. Aroy may generate for the Company or the Life Sciences Practice, the future business, operating results, estimated cost savings, and financial condition of the Company and statements using the terms "anticipates," "believes," "expects," "should," "prospects," "target," or similar expressions are "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are based upon management's current expectations and are subject to a number of factors and uncertainties. Information contained in these forward-looking statements is inherently uncertain, and actual performance and results may differ materially due to many important factors. Such factors that could cause actual performance or results to differ materially from any forward-looking statements made by the Company include, among others, the Company's restructuring costs and attributable annual cost savings, changes in the Company's effective tax rate, share dilution from the Company's stock-based compensation, dependence on key personnel, attracting, recruiting and retaining qualified consultants, dependence on outside experts, utilization rates, completing acquisitions and factors related to its completed acquisitions, including integration of personnel, clients and offices, and unanticipated expenses and liabilities, the risk of impairment write downs to the Company's intangible assets, including goodwill, if the Company's enterprise value declines below certain levels, risks associated with acquisitions it may make in the future, risks inherent in international operations, the performance of NeuCo, changes in accounting standards, rules and regulations, changes in the law that affect the Company's practice areas, management of new offices, the potential loss of clients, the ability of customers to terminate the Company's engagements on short notice, dependence on the growth of the Company's management consulting practice, the unpredictable nature of litigation-related projects, the ability of the Company to integrate successfully new consultants into its practice, general economic conditions, intense competition, risks inherent in litigation, and professional liability. Further information on these and other potential factors that could affect the Company's financial results is included in the Company's periodic filings with the Securities and Exchange Commission. The Company cannot guarantee any future results, levels of activity, performance or achievement. The Company undertakes no obligation to update any of its forward-looking statements after the date of this press release.