Investment Group to Acquire CRO Syneos Health for $7.1 Billion

A consortium of private investment firms is poised to buy contract research organization (CRO) giant Syneos Health for approximately $7.1 billion, having reached a definitive agreement to acquire the CRO giant on Wednesday.

The private investment group, comprised of Elliott Investment Management, Patient Square Capital and Veritas Capital, will purchase Syneos in an all-cash transaction that includes paying off the CRO’s outstanding debt, reported to be around $3 billion.

Raleigh, N.C.-headquartered Syneos, a leading global CRO that claims to serve clients in more than 110 countries, was born through a 2017 merger between inVentiv Health and INC Research.

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