Itself a result of the 2017 merger between INC Research and inVentiv Health, Syneos picks up the mid-sized CRO in push for growth.
During the same week that it released of an upbeat set of financials, the Morrisville-based company also announced the acquisition of Synteract, a mid-sized full-service CRO with 700 employees across North America, Europe, Asia Pacific and Africa. Known for its leading reputation among emerging biopharma and with deep expertise in oncology, rare and orphan diseases, neuroscience, dermatology, and pediatrics, Synteract’s client base comprises primarily pre-revenue companies, a segment in Syneos Health sees growth opportunities in.
Syneos Health, dubbed the only fully integrated biopharmaceutical solutions organization combining a contract research organization and a contract commercial organization is itself a product of the US$7.4bn merger between INC Research and inVentiv Health. The company indicated Synteract will maintain its brand and will operate as a business unit within its fold. However, financial terms of the transaction were not disclosed with the announcement. The California-headquartered CRO, Synteract has supported more than 4,000 Phase I-IV clinical trials across 26,000 sites in more than 60 countries.