inVentiv Health mulls investor takeover offer

By Gareth Macdonald

- Last updated on GMT

Related tags: Clinical trial

US commercial services provider inVentiv Health says it has been approached by investors interested in acquiring the company.

New Jersey-based inVentiv, which offers clinical trial management and contract sales services, confirmed it has set up a committee to consider the proposal but added that it will not comment further “unless it enters into a definitive agreement​.”

The news was accompanied by a hike in share price and speculation about potential suitors with LabCorp, Cardinal Health and McKesson emerging as likely bidders according to unconfirmed reports in the New York Post​ and Dow Jones​.

2009 performance

If and when a sale is agreed inVentiv’s potential new owners will take control of a firm that ended 2009 with a mixed set of financials.

For the 12-months ended December 31, 2009 operating income on a generally-accepted accounting principles (GAAP) basis was $101m (€75m), up from the $162.2m impairment charge-related loss it achieved in 2008.

Total revenue for the year was down, sliding 4 per cent to $1.07bn, as were the contributions from inVentiv’s commercial and clinical divisions which fell 5 and 6 per cent respectively to $413m and $209.5m, respectively.

inVentiv’s communications unit also struggled in 2009, with sales falling 9 per cent to $310m. However, on a more positive note, the firm said that revenue for the fourth quarter was up 17 per cent to $86m thanks to a number of new business wins.

The firm’s patient outcomes division also made gains, with revenues for the year climbing 11 per cent to a record of $139m for the year, due to new wins in “patient compliance [and] expansion of services within our patient assistant programme​.”

Speaking at the time, inVentiv CEO Blane Walter said the results “demonstrate the importance of having a diverse product offering​” and positive impact of operational changes the firm made in 2009.

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