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Acquisition is expected to drive organization’s ‘next phase of growth.’
Syneos Health, a biopharma clinical and commercial solutions organization, has entered into a definitive agreement to be acquired by a consortium of private investment firm affiliates composed of Elliott Investment Management, Patient Square Capital, and Veritas Capital for $43.00 per share in cash in a transaction valued at approximately $7.1 billion, including outstanding debt.
The deal is expected to be finalized in the second half of 2023, subject to the approval of Syneos Health shareholders, among other conditions.
“We have long appreciated Syneos Health’s leadership position in serving large pharma and biotech customers globally, across both clinical development and commercialization,” comments Marc Steinberg, senior portfolio manager, Elliott. “Syneos Health is at an important stage in its evolution. We look forward to partnering with Patient Square and Veritas, as well as the talented team at Syneos Health, to further reinforce the company’s core capabilities and help drive its next phase of growth.”