Welcome to our dedicated page for Syneos Health news (Ticker: SYNH), a resource for investors and traders seeking the latest updates and insights on Syneos Health stock.
Syneos Health, Inc. (Nasdaq: SYNH) is a prominent player in the biopharmaceutical solutions industry, offering comprehensive end-to-end clinical and commercial services. With a mission to shorten the distance from lab to life, the company is dedicated to accelerating the success of its clients in the biopharmaceutical sector.
Formed from the merger of INC Research and inVentiv Health, Syneos Health stands out as the only fully integrated biopharmaceutical solutions organization. The company leverages its extensive expertise and data insights to navigate the complexities of today's marketplace, providing smarter and faster solutions to its clients. Its services range from clinical trials to commercialization, ensuring that therapies reach patients efficiently.
Headquartered in Morrisville, N.C., Syneos Health operates in more than 110 countries, employing a talented team of professionals who deeply understand patient and physician behaviors as well as market dynamics. The company is committed to fostering a diverse, equitable, and inclusive culture, focusing on the well-being of its colleagues, customers, patients, communities, and the environment.
One of Syneos Health's recent significant achievements includes an agreement to go private through an acquisition by a consortium of private investment firms, which includes Elliott Investment Management L.P., Patient Square Capital, and Veritas Capital. This transaction, approved by the company's stockholders, is expected to bolster Syneos Health's growth priorities and enhance its ability to deliver integrated solutions to its clients.
Among its current projects, Syneos Health has been enhancing its patient recruitment capabilities through a collaboration with Oracle Cerner LHN to address unmet needs in clinical trial enrollment and diversity. Furthermore, the company continues to invest in technology and data solutions to optimize clinical development and performance for its customers.
Financially, Syneos Health operates on solid footing, with ongoing support from its new private investors poised to further accelerate its transformation and fuel investments in technology. The company's commitment to innovation and customer success positions it as a leading force in the biopharmaceutical industry.
To stay updated on Syneos Health's latest developments, including their quarterly reports and strategic initiatives, visit syneoshealth.com and subscribe to their podcast.
Syneos Health reported a GAAP revenue of $1,140.0 million for Q4 2020, a 3.7% increase sequentially but a 6.0% decline year-over-year. The company achieved net new business awards of $1,764.1 million and a book-to-bill ratio of 1.55x for the quarter. Adjusted EBITDA rose 3.3% to $194.8 million. GAAP net income was $91.9 million, a 0.9% increase year-over-year. Full year 2021 guidance includes revenue expectations of $5,125 million to $5,325 million and GAAP EPS of $1.95 to $2.20.
Syneos Health (Nasdaq:SYNH) is releasing insights from its 2021 Health Trends report, focusing on key growth drivers for the biopharmaceutical sector. With the ongoing impact of COVID-19, the organization emphasizes a commitment to innovation and adapting to new healthcare dynamics. Key themes include a Shared Commitment to Change, New Prescriber Realities, Model Evolution, and Engagement Transformation. These insights aim to foster understanding and improve healthcare delivery. The full report is available at trends.health.
Syneos Health (Nasdaq:SYNH) will release its fourth quarter and full year 2020 financial results on February 18, 2021, before an earnings call at 8:00 a.m. ET. The call can be accessed via webcast on the company's Investor Relations page. A replay will be available after 1:00 p.m. on the same day. Syneos Health is a fully integrated biopharmaceutical solutions organization, employing approximately 25,000 professionals across over 110 countries, dedicated to accelerating the delivery of therapies.
Syneos Health (Nasdaq:SYNH) will have CEO Alistair Macdonald present at the 39th Annual J.P. Morgan Healthcare Conference on January 13, 2021, at 8:20 a.m. EST. This event will provide insights into the company's integrated biopharmaceutical solutions. Investors can access a live webcast, presentation materials, and an archived audio replay via the Company’s Investor Relations website. Syneos Health is focused on enhancing customer performance by leveraging around 24,000 clinical and commercial experts across over 110 countries.
Syneos Health (Nasdaq:SYNH) announced the acquisition of Illingworth Research Group on December 18, 2020. This acquisition enhances Syneos' decentralized solutions, responding to increased demand for in-home clinical trial services accelerated by COVID-19. Illingworth Research, active in over 46 countries, specializes in clinical trial home health services, contributing to patient recruitment and diversity. This expansion aligns with Syneos' strategy to improve patient engagement and accessibility, ultimately aiming for efficiency in clinical trials and participation rates.
Syneos Health (Nasdaq:SYNH) has completed the acquisition of Synteract, a full-service CRO focusing on emerging biopharma. This move aims to meet the growing demand from small- to mid-sized biopharmaceutical companies, supported by strong funding trends. Synteract will continue to operate under its brand as a Syneos Health Business Unit, led by Steve Powell. The integration is expected to leverage Syneos Health's capabilities to enhance patient impact.
Syneos Health (Nasdaq:SYNH) will host its 2020 Analyst and Investor Event on December 8, 2020, from 9:00 a.m. to 11:30 a.m. ET. The event aims to share updates on the company's innovative product development model, which is designed to drive accelerated growth across a diverse range of customers. CEO Alistair Macdonald emphasized the strategy to enhance market penetration among large pharma and improve services for small to mid-sized companies. The event will include a webcast available on the company’s investor relations website.
Syneos Health (Nasdaq:SYNH) and ConcertAI have entered a strategic collaboration aimed at enhancing oncology clinical trials. This partnership focuses on integrating external control arms into studies using regulatory-grade data, thereby expediting drug approvals and minimizing research costs. The collaboration seeks to address challenges faced during COVID-19 by innovating trial designs, which could lead to more effective patient outcomes in oncology. Both companies emphasize the importance of leveraging real-world evidence to navigate regulatory processes effectively.
On December 2, 2020, Syneos Health (Nasdaq: SYNH) announced the pricing of a secondary offering of 6,000,000 shares of its common stock at $61.90 per share. The offering, led by affiliates of Thomas H. Lee Partners and Advent International, will not involve Syneos Health selling any shares or receiving proceeds. The offering is expected to close on December 3, 2020, pending customary conditions. Underwriters for this offering include Goldman Sachs & Co. LLC and BofA Securities. Additionally, an automatic shelf registration statement was previously filed with the SEC.
Syneos Health (Nasdaq: SYNH) announced a secondary offering of 6,000,000 shares of its common stock by affiliates of Thomas H. Lee Partners, L.P. and Advent International Corporation. The offering is underwritten by Goldman Sachs & Co. LLC and BofA Securities. Syneos Health will not sell any shares or receive proceeds from this transaction. An automatic shelf registration statement related to the offering has been effective since November 27, 2018. Interested investors can access relevant documents on the SEC’s website.
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