INC Research and inVentiv Health approves merge agreement

INC Research and inVentiv Health announced that their Boards of Directors have  approved a definitive merger agreement pursuant to which their businesses would combine in an all-stock transaction.

Upon closing of the transaction, INC Research shareholders are expected to own 53% and inVentiv shareholders are expected to own 47% of the combined company on a fully diluted basis. Advent International and Thomas H. Lee Partners, two preeminent private equity firms, are currently equal equity owners of inVentiv and will remain investors in the combined company upon closing of the merger.

INC Research CEO, Alistair Macdonald said that today marks a significant milestone for INC Research. Customers are increasingly seeking simultaneous approvals and product launches in multiple markets worldwide. Through this strategic combination they 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 of INC Research and inVentiv will expand their global scale and add capabilities to grow their addressable market.

inVentiv Health CEO, Michael Bell said that 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. He believe this merger has significant client advantages as it deepens their scale, scope and therapeutic expertise.

Following the close of the transaction, Alistair Macdonald will serve as CEO of the combined company, with Greg Rush serving as CFO and Michael Bell serving as Executive Chairman. The Board of Directors of the combined company will consist of 10 directors, with five directors designated by INC Research and other five by inVentiv.