Biopharmaceutical solutions organisation, Syneos Health, has acquired an advisory and operational solutions provider to the global life sciences industry, Kinapse, to enhance its end-to-end capabilities.
Acquisition
“As customers increasingly face risk, competition and rising development costs, the innovative, technology-enabled solutions provided by Kinapse are seeing increasing demand,” said Alistair Macdonald, chief executive officer of Syneos Health. “Through this combination we continue to inject new and enriched high-value solutions into the industry’s only end-to-end offering, unlocking value for all of our biopharmaceutical customers. Additionally, with Kinapse’s growth, recurring revenue streams and new cross-selling opportunities, we’re poised to further strengthen our commercial business by integrating their services into more comprehensive offerings.”
“We’ve been following Syneos Health as the company has forged a new model for accelerating therapies to market, and we look forward to adding further depth to its end-to-end offering. We see growth opportunities driven by the integration of our solutions and the ability to tap into Syneos Health’s broad customer base,” added Dawn Marriott-Sims, executive chairman of Kinapse. “On behalf of the Kinapse management team, I want to extend my thanks to our dedicated employees for their tireless work that has made this combination possible, as well as Hg, whose support as an investor has been transformational over the last several years.”
Kinapse operations will be integrated into Syneos Health’s award-winning consulting business, a business which drives connections between Syneos Health’s core clinical and commercial offerings to optimise product launch and commercialisation results.
Syneos Health is funding the transaction through cash on hand. Financial terms of the transaction were not disclosed. The company expects the transaction to be accretive to its earnings and remains committed to achieving a net leverage ratio of approximately three times by the end of 2019.