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inVentiv merger boosts revenues
May 9, 2018
By: Kristin Brooks
Managing Editor, Contract Pharma
Syneos Health 1Q Revenues: $1.06 billion (revenues were $252.1 million 1Q17) 1Q Loss: $24.6 million (earnings were $21.2 million 1Q17) Comments: Revenue increase was primarily due to the Merger with inVentiv in August 2017. Under ASC 605, the Combined Company Clinical Solutions segment generated $530.9 million of adjusted service revenue in the quarter, up 2%.The Combined Company Commercial Solutions segment generated $230.6 million of adjusted service revenue, down 14% primarily due to project cancellations and customer downsizing within the company’s selling solutions and communications service offerings, along with lower new business awards in 2017 that reduced 2018 revenue.
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