Syneos Health to Acquire Synteract, a Top CRO Provider to Emerging Biopharma
Synteract has built a leading reputation among emerging biopharma, providing deep therapeutic expertise in oncology, rare and orphan diseases, neuroscience, dermatology, and pediatrics. Synteract’s client base comprises primarily pre-revenue companies, a segment in which
The acquisition will enhance Syneos Health’s leading position in the marketplace, particularly for serving customers across the small to mid-sized (SMID) category – further diversifying the Company’s customer base and expanding support to the high-growth pre-revenue segment. According to industry estimates, funding to the biotech sector has shown no signs of slowing down, remaining near all-time record highs.
The transaction provides significant revenue synergy opportunities, as
Upon the transaction closing, Synteract will maintain its brand, led by strong management, operating as a Syneos Health Business Unit.
“Synteract is one of the leading mid-sized, late-stage-focused CRO platforms with global reach and an attractive focus on the highest growth customer segment in the CRO space fueled by near-record funding levels,” said
For Synteract customers seeking alternatives to traditional product development and commercialization options, they will also have access to Syneos One™, providing comprehensive end-to-end capabilities to maximize asset value.
“Joining Syneos Health combines our emerging biopharma expertise and expands our differentiated delivery model,” said
The Company expects to close the transaction by the end of 2020, subject to the satisfaction of customary closing conditions.
“Bringing Clinical Trials to Life” represents Synteract’s commitment to engage with drug developers, patients, investigators, and regulatory experts, to bring insights to action and make better therapies a reality. Synteract supports biotech and pharma companies across all phases of drug development with multi-disciplinary teams and deep expertise. Synteract has conducted nearly 4,000 studies on six continents in over 62 countries. Synteract offers notable depth of expertise in oncology, dermatology, general medicine, infectious disease and vaccine, neuroscience, pediatrics, and rare and orphan diseases. Connect on LinkedIn and Twitter.
Forward Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995, including the benefits of our acquisition of Synteract, the closing of our acquisition of Synteract and the source of funding for such acquisition, and our foundation for growth. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to: risks related to the satisfaction of the closing conditions of the Synteract acquisition, risks associated with acquired businesses, including the ability to integrate acquired operations, products, and technologies in our business; risks associated with the Company's acquisition strategy; failure to realize the full value of goodwill and intangible assets; restructuring risk; and other risk factors set forth in the Company's Annual Report on Form 10-K for the fiscal year ended
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Source: Syneos Health, Inc.