Syneos Health has announced an agreement to acquire Synteract.
The acquisition will enhance Syneos Health’s position in the marketplace, particularly for serving customers across the small to mid-sized (SMID) category. According to industry estimates, funding to the biotech sector has shown no signs of slowing down.
Upon the transaction closing, Synteract will maintain its brand, led by strong management, operating as a Syneos Health Business Unit.
Alistair Macdonald, Chief Executive Officer, Syneos Health said ,“With Synteract, we will strengthen our leadership across the entire SMID category while we continue to drive growth among large biopharma customers. Importantly, we share operating and cultural philosophies built around finding the best combination of product, process and technology to fuel innovation. I look forward to welcoming Synteract to the Syneos Health family, as we collectively work to change patients’ lives.”
The Company expects to close the transaction by the end of 2020, subject to the satisfaction of customary closing conditions. Latham & Watkins LLP is serving as legal advisor to Syneos Health. Jefferies LLC is serving as exclusive financial advisor to Synteract, and Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor.
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