SUBSCRIBE

Breaking News on Contract Research, Manufacturing & Clinical Trials

Headlines > Clinical Development

Read more breaking news

 

 
News in brief

inVentiv Health announces 'significant' investment, cancels IPO

Melissa Fassbender

By Melissa Fassbender

02-Aug-2016
Last updated on 02-Aug-2016 at 00:33 GMT2016-08-02T00:33:54Z

(Image: iStock)
(Image: iStock)

With the on-boarding of the global private equity investor, Advent International, inVentiv has canceled its previously planned IPO.

Per the agreement, announced today, Advent International will make a material equity investment in inVentiv Health, valuing the company at $3.8bn on a cash-free, debt-free basis.

The transaction is expected to be completed in the fourth quarter of 2016.

Michael Bell, Chairman and Chief Executive Officer of inVentiv Health, commented in a press release that the investment will allow the company to navigate the “increasingly complex scientific and regulatory environment.”

inVentiv did not respond to a request for comment.

According to the company, "As a result of signing the transaction, inVentiv Group Holdings, Inc., the indirect parent company of inVentiv Health, does not plan to pursue an initial public offering of its common stock at this time."

As Outsourcing-Pharma.com previously reported , inVentiv Group Holding filed an S1 with the Securities and Exchange Commission (SEC) in April of this year. The company was seeking to raise $100m by listing on either the New York Stock Exchange or the NASDAQ Global Market.

Related products

Related suppliers

Key Industry Events