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) released its 2022 Health Trends: Insights for Industry Change Agents, focusing on value creation, human-centricity, and industry change. Key trends include enhancing stakeholder value through innovative clinical development, optimizing engagement with healthcare professionals, and prioritizing diversity, equity, and inclusion. The report indicates a renewed market dynamism post-pandemic, emphasizing the need for adaptation in product development to address the evolving healthcare landscape and workforce challenges.
Syneos Health (Nasdaq:SYNH) announced upcoming presentations at two investor conferences. CEO Alistair Macdonald will speak at the Jefferies London Healthcare Conference on November 18, 2021, at 8:00 a.m. GMT. CFO Jason Meggs is scheduled to present at the Evercore ISI 4th Annual HealthCONx Conference on December 1, 2021, at 4:20 p.m. ET. Webcasts will be available on the Company’s Investor Relations website for both events.
Syneos Health (SYNH) reported strong third-quarter 2021 results, with revenue of $1,348.2 million, a 22.7% year-over-year increase. Clinical Solutions net new business awards reached $1,353.8 million, a growth of 35.0%, while Commercial Solutions saw $276.9 million in awards, up 36.3%. GAAP net income grew to $78.2 million, or $0.75 per share, compared to $63.4 million in Q3 2020. The company closed acquisitions of StudyKIK and RxDataScience, enhancing its capabilities. Full-year guidance was updated, with projected revenues between $5,200 million and $5,280 million.
Syneos Health (Nasdaq:SYNH) will announce its third quarter 2021 financial results on November 3rd, 2021, prior to an 8:00 a.m. ET earnings call. The event will be accessible via live webcast on the company’s Investor Relations website, with telephone participation requiring prior registration. A replay of the webcast will be available post-call. As a fully integrated biopharmaceutical solutions organization, Syneos Health supports clients across more than 110 countries with its extensive expertise, aiming to enhance customer performance in delivering vital therapies.
Syneos Health (Nasdaq:SYNH) has announced the acquisition of RxDataScience, a healthcare-focused analytics and AI company, aiming to enhance its data science capabilities and accelerate customer performance. This integration will leverage advanced analytics tools and AI to provide biopharma clients with actionable insights across the product lifecycle. The partnership is expected to significantly improve clinical trial efficiencies and commercial programs. CEO Alistair Macdonald highlighted the strategic importance of this acquisition in addressing complex data challenges.
Syneos Health announced the acquisition of StudyKIK, enhancing its clinical trial capabilities. This acquisition enables better connection between patients, sites, and communities, thus accelerating clinical trial recruitment and retention. StudyKIK, founded in 2014, has proven to enhance patient enrollment speeds by up to 94% and reduce start-up times by 75%. The synergy from this acquisition aims to improve patient experiences and expand Syneos Health's technology-driven solutions.
Syneos Health (Nasdaq:SYNH) has partnered with Ride Health to enhance non-emergency medical transportation (NEMT) for clinical trial participants. This collaboration aims to improve access and retention by integrating Ride Health’s technology into Syneos Health's patient engagement platform. Additionally, Syneos Health has made a minority investment in Ride Health. The partnership seeks to streamline transportation logistics, reduce administrative burdens for coordinators, and expand patient access, thereby supporting clinical trial efficiency and diversity.
Syneos Health (Nasdaq:SYNH) announced that CEO Alistair Macdonald and CFO Jason Meggs will present at the 2021 Baird Global Healthcare Conference on September 15, 2021, at 1:25 p.m. ET. A live webcast and an archived replay of the event will be available on the Company’s Investor Relations website. Syneos Health is a fully integrated biopharmaceutical solutions organization, combining clinical and commercial expertise to enhance customer performance and accelerate the delivery of therapies globally.
Syneos Health reported a strong second quarter 2021 with revenues of $1,282.6 million, a 26.6% increase year-over-year. Clinical Solutions secured $1,436.2 million in new business awards, up 21.2%, while Commercial Solutions saw 55.3% growth to $273.6 million. GAAP net income surged 971.5% to $41.9 million or $0.40 per diluted share. Adjusted EBITDA rose 47.1% to $174.6 million. The company updated its full-year guidance, anticipating revenues between $5,180 million and $5,300 million.
Syneos Health (Nasdaq:SYNH) has partnered with Aetion to enhance drug development and market access. This collaboration will utilize Aetion's Evidence Platform to deliver regulatory-grade data and analytics solutions. By integrating their offerings, the partnership aims to accelerate product development, improve patient access, and provide evidence-based decision-making. The initiative responds to increasing demands for rapid proof of therapy value from regulators and payers, ultimately focusing on patient outcomes and maximizing returns for biopharmaceutical companies.
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