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 (Nasdaq: SYNH) has completed the offering of $600 million in senior notes at a 3.625% interest rate due in 2029. The proceeds will be utilized for general corporate purposes, including acquisitions and debt repayment. The notes were offered exclusively to qualified institutional buyers under Regulation S and Rule 144A of the Securities Act. Additionally, Syneos Health has amended its credit agreement to extend the maturity of existing facilities to August 2024, enhancing its financial flexibility.
Syneos Health (Nasdaq: SYNH) announced an upsized offering of $600 million in senior notes with a 3.625% interest rate due 2029, exceeding a previously planned amount by $100 million. The notes are priced at par and will help fund acquisitions and repayment of debt. The closing of this offering, set for November 24, 2020, is independent of an amendment to their existing credit agreement, which extends the maturity to August 2024. The offering is targeted towards qualified institutional buyers, with no registration under the Securities Act.
Syneos Health (Nasdaq: SYNH) announced a private offering of $500 million in senior notes, exempt from registration under the Securities Act. Proceeds will fund general corporate purposes, including acquisitions and debt repayment. Concurrently, the company plans to amend its credit agreement to extend the maturity date to August 2024. The offering is targeted at qualified institutional buyers and non-U.S. investors. Syneos Health operates as a fully integrated biopharmaceutical solutions organization, combining CRO and CCO services worldwide.
Syneos Health (Nasdaq:SYNH) has appointed Larry A. Pickett, Jr. as Chief Information & Digital Officer to enhance its biopharmaceutical solutions. Pickett, with 30 years of experience, will lead the global Business Technology team and oversee the company's Dynamic Assembly technology network. His previous roles include co-founder and CEO of RxDataScience and CIO at Purdue Pharma. The appointment aims to leverage data insights to accelerate product development and improve patient outcomes.
Syneos Health (Nasdaq:SYNH) announced it will host an Analyst and Investor Event on December 8, 2020, from 9:00 a.m. to 11:30 a.m. EST. The virtual event will feature presentations from company leadership detailing their unique product development model and plans for growth in the healthcare sector. The event will be accessible via a live webcast on the company's Investor Relations website, featuring audio, video, and presentation materials. The aim is to enhance communication with investors and showcase Syneos' integrated solutions for biopharmaceutical development.
Syneos Health (Nasdaq:SYNH) announced its participation in two investor conferences. CFO Jason Meggs will present at the Credit Suisse Virtual Healthcare Conference on November 9, 2020, at 9:30 a.m. EST. CEO Alistair Macdonald and CFO Jason Meggs will present at the Jefferies Virtual London Healthcare Conference on November 19, 2020, at 11:25 a.m. EST/4:25 p.m. GMT. Live webcasts and presentation materials will be available on the Company's Investor Relations website.
Syneos Health provides integrated biopharmaceutical solutions globally, combining clinical and commercial expertise.
Syneos Health (SYNH) announced its acquisition agreement of Synteract, a full-service CRO targeting the biopharma sector. For Q3 2020, GAAP revenue was $1,099 million, down 6.6% year-over-year, while net income rose to $63.4 million with diluted EPS of $0.60. The company reported strong net new business awards of $1,206.3 million for Q3, resulting in a book-to-bill ratio of 1.10x. 2020 revenue guidance is set at $4.370 to $4.440 billion, with adjusted EBITDA expectations of $620 to $640 million. The 2021 outlook anticipates revenue between $4.900 to $5.100 billion.
Syneos Health has announced the acquisition of Synteract, enhancing its position in the biopharmaceutical sector. This acquisition targets the emerging biopharma segment, known for its rapid growth, especially among pre-revenue companies. With Synteract’s 700 employees and extensive experience in clinical trials, Syneos aims to leverage synergies for operational efficiencies and expanded customer service in the small to mid-sized (SMID) category. The transaction, expected to close by the end of 2020, is anticipated to create new revenue opportunities and operational efficiencies.
Syneos Health has launched Kinetic, a new customer engagement capability that provides biopharmaceutical organizations with integrated omnichannel solutions. This initiative aims to enhance performance by delivering targeted messaging through a sophisticated technology network. Backed by data scientists and behavioral experts, Kinetic allows for personalized healthcare interactions, ensuring precise engagement. Notably, during COVID-19, a trial demonstrated that the Digital Amplifier tool increased prescription rates by a double-digit percentage for healthcare providers engaged both digitally and in-person.
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