Upon closing, INC Research will own approximately 53% and inVentiv will own approximately 47% of the combined company. The transaction, subject to customary closing conditions, is expected to be completed in 2H17.
The transaction creates the second largest pharma/biopharmaceutical outsourcing provider, and a top three CRO globally. The combined company will have more than 22,000 employees spanning more than 60 countries, and will leverage commercial insights to inform the clinical trial process, designing studies to be more efficient and effective to address evolving patient and payer needs. Commercial solutions for accelerated trial design include market access, data-driven Real World Evidence (“RWE”), advocacy relations and medical affairs. The new organization will offer expanded clinical scale and therapeutic expertise.
Alistair Macdonald, chief executive officer of INC Research, said, “This marks a significant milestone for INC Research. Through this strategic combination we are bringing together two of the most innovative and respected players in the field to create a leading global biopharma solutions organization with a full suite of clinical and commercial solutions to address the needs of biopharmaceutical companies, patients, physicians and payers. The combination will expand our global scale and add capabilities to grow our addressable market.”
Michael Bell, chief executive officer of inVentiv Health, said, “As biopharmaceutical companies of all sizes face increasingly complex challenges to bring products to market, they are seeking comprehensive outsourced solutions across the clinical and commercial spectrum. The new company is purpose-built to address market realities where clinical and commercial must work together, sharing expertise, data and insights, to improve client performance. We believe this merger has significant client advantages as it deepens our scale, scope and therapeutic expertise.”
Following the close of the transaction, Alistair Macdonald will serve as chief executive officer of the combined company, with Greg Rush serving as chief financial officer and Michael Bell serving as executive chairman.