News

Meet our Healthcare team Meet our US team

Back Next Previous

inVentiv Health announces closing of significant investment agreement with Advent International

BURLINGTON, MA – November 10, 2016 – inVentiv Health, a global professional services organization designed to help the biopharmaceutical industry accelerate the delivery of much-needed therapies to market, announced today that it has closed its previously announced transaction agreement with Advent International (Advent). Advent is one of the largest and most experienced global private equity investors with extensive healthcare sector expertise. Advent joins Thomas H. Lee Partners, L.P. (THL) as an equal equity owner of inVentiv Health and its equity investment in inVentiv Health values the company at $3.8 billion on a cash-free, debt-free basis.

inVentiv Health provides comprehensive and integrated clinical and commercial outsourcing services to the biopharmaceutical industry. The company’s unique business model, combining a leading Clinical Research Organization (CRO) with the industry’s first Contract Commercial Organization (CCO), helps clients improve performance and expedites the delivery of innovative products to market. The inVentiv Health client portfolio includes all 20 of the largest global biopharmaceutical companies. The company has helped to develop or commercialize 80 percent of all new drugs approved by the Food and Drug Administration (FDA) and 70 percent approved by the European Medicines Agency (EMA) over the last five years. Under THL’s ownership, inVentiv Health more than doubled both revenue and adjusted EBITDA to $2.2 billion and $343 million, respectively.

Michael Bell, Chairman and Chief Executive Officer of inVentiv Health, said, “With the backing of two of the most renowned private equity firms, inVentiv Health now has the enhanced resources to continue to realize our impressive growth plans. By leveraging Advent and THL’s deep operational and sector-specific expertise, we’ll continue to evolve our comprehensive clinical and commercial service offerings. Our purpose is to accelerate the development and delivery of therapies for our global biopharmaceutical client base.”

“inVentiv Health’s combined CRO and CCO business model creates a competitive edge that has propelled the company to become a leader in the biopharmaceutical outsourcing industry,” said John Maldonado, a Managing Director at Advent. “We’re excited to be partnering with THL and the exceptional management team at inVentiv Health. We’re committed to providing the company with tools, resources and best practices that will enable inVentiv Health to achieve continued success.”

“Since our initial investment, inVentiv Health has experienced significant growth and developed into a world-class professional services firm,” said Joshua Nelson, Managing Director of THL. “We’re thrilled to be partnering with Advent as they share our enthusiasm about the tremendous potential for the business. We look forward to working with Advent, and inVentiv’s 15,000 employees, to advance solutions to address some of the healthcare industry’s most pressing problems.”

This investment is consistent with Advent’s strategy of investing in healthcare companies with strong growth potential to create value for its stakeholders. Advent has a long track record of investing in the healthcare sector, completing more than 35 investments in 14 countries in the last 26 years.

inVentiv Health

inVentiv Health is a global professional services organization designed to help the biopharmaceutical industry accelerate the delivery of therapies to market. Our combined Clinical Research Organization (CRO) and Contract Commercial Organization (CCO) offer a differentiated suite of services, processes and integrated solutions designed to improve client performance. With approximately 15,000 employees and the ability to support clients in 90 countries, our global scale and deep therapeutic expertise enable inVentiv Health to help clients navigate an increasingly complex environment. For more information, visit www.inVentivHealth.com.

For more information, visit: www.inVentivHealth.com

Advent International

Founded in 1984, Advent International is one of the largest and most experienced global private equity investors. The firm has invested in more than 315 private equity transactions in 40 countries and as of June 30, 2016, had $40 billion in assets under management. With offices on four continents, Advent has established a globally integrated team of over 190 investment professionals across North America, Europe, Latin America and Asia. The firm focuses on investments in five core sectors, including business and financial services; healthcare; industrial; retail, consumer and leisure; and technology, media and telecom. After more than 30 years dedicated to international investing, Advent remains committed to partnering with management teams to deliver sustained revenue and earnings growth for its portfolio companies.

For more information, visit: www.adventinternational.com

Thomas H. Lee

Thomas H. Lee Partners, L.P. (THL) is one of the world’s oldest and most experienced private equity firms. The firm invests in growth-oriented businesses, headquartered principally in North America, across three broad sectors: Consumer & Healthcare, Media & Information Services, and Business & Financial Services. Since its founding in 1974, THL has raised over $20 billion of equity capital and invested in more than 130 businesses with an aggregate purchase price of more than $150 billion. THL strives to build great companies of lasting value and generate superior investment returns.

For more information, visit:
www.thl.com

This press release contains forward-looking statements. These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in forward looking statement and such forward-looking statements should not be unduly relied upon. Factors that could prevent us from achieving our goals and cause the assumptions underlying forward-looking statements and the actual results to differ materially from those expressed in or implied by those forward-looking statements include, but are not limited to, the following: the impact of client project delays, cancellations and terminations, including the impact on our backlog; the failure to convert backlog into net revenues; our ability to accurately price our contracts and forecast costs; our ability to achieve operational efficiencies or grow our net revenues faster than expenses; the risks related to our relationships with existing or potential clients who are in competition with each other; our ability to recruit suitable willing investigators and patients for clinical trials; our ability to maintain insurance coverage for our operations and indemnification obligations; the impact of a loss of our access to certain data assets; the potential liability associated with injury to clinical trial participants; the risk of client concentration or concentration in therapeutic areas; our ability to successfully develop and market new services and enter new markets; the impact of any downgrade in our current credit ratings; our history of losses and our ability to achieve and sustain profitability in the future; changes in outsourcing expenditures for clinical development and commercialization services by companies in the biopharmaceutical industry; the impact of government regulators or clients limiting a prescription’s scope or withdrawing an approved product from the market; the potential impact of healthcare reform initiatives or from changes in the reimbursement policies of third-party payers; the impact on our clients of lower cost generic and other competing products; the impact of costs, liability and reputational harm from failing to perform our services in accordance with contractual requirements, regulatory standards and ethical considerations; the risks associated with an industry-wide reduction in demand for CRO services; the effect of covenant restrictions in our debt agreements on our ability to operate our business; and our ability to service our substantial indebtedness. Readers are referred to the “Risk Factors” discussion in Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2015, and item 1A of our Quarterly Report on Form 10-Q for the three months ended March 31, 2016, each on file with the Securities and Exchange Commission, for a further description of these risks and other factors that could prevent us from achieving our goals and cause the assumptions underlying forward-looking statements and the actual results to differ materially from those expressed in or implied by those forward-looking statements. We undertake no obligation to publicly update any forward-looking statements.