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 expanded its partnership with Komodo Health to enhance data-driven insights across clinical, real-world, and commercial data. This collaboration integrates Komodo’s Prism and Sentinel solutions, providing advanced analysis of de-identified patient data to improve clinical trial design and effectiveness. The partnership aims to optimize operational strategies by leveraging Komodo’s extensive Healthcare Map, which tracks 325 million patient journeys. This initiative will support Syneos in adapting to the complexities of modern biopharmaceutical product development.
The Illingworth Research Group, a Syneos Health company, has received the 2021 Queen’s Award for Enterprise in International Trade, recognizing its leadership in clinical research home health services. This award highlights Illingworth's growth, particularly during the COVID-19 pandemic, which increased demand for in-home clinical trials. Additionally, Illingworth was honored with the SCRIP Award as Best Specialist Provider. Established in 1998 and acquired by Syneos in December 2020, Illingworth employs over 200 people globally and collaborates with more than 1,200 Mobile Research Nurses.
Syneos Health reported first-quarter 2021 results with revenue of $1,208.7 million, marking a 3.9% year-over-year increase. Net new business awards reached $1,548.8 million for the quarter, reflecting a book-to-bill ratio of 1.28x. GAAP net income was $38.7 million, with adjusted diluted EPS of $0.79. The company projects full-year revenue between $5,125 million and $5,325 million. CEO Alistair Macdonald emphasized strong growth driven by integrated product development and increasing backlog.
Syneos Health and Medable have announced a strategic partnership to enhance decentralized clinical trials, aiming to boost patient access and engagement. This collaboration allows Syneos to utilize Medable's digital platform, which streamlines data collection and minimizes the burden on doctors and patients. The initiative focuses on making clinical trials more inclusive and efficient by deploying real-time data capture technologies. Both companies believe this partnership will transform biopharmaceutical product development and meet the increasing demand for decentralized trials.
Syneos Health (Nasdaq:SYNH) will announce its Q1 2021 financial results on April 29, 2021, before an earnings call at 8:00 a.m. ET. Interested parties can access the live webcast through the Investor Relations section of the Syneos Health website. A replay of the webcast will be available after 1:00 p.m. on the same day. Syneos Health stands out as a fully integrated biopharmaceutical solutions organization that combines a Contract Research Organization (CRO) and Contract Commercial Organization (CCO), seeking to enhance customer performance and expedite therapy delivery.
Syneos Health Communications has enhanced its leadership team with three senior hires to boost creative strategy and communications in health outcomes. Orrin Pollard joins as Director of European Creative Expression, bringing over 25 years of experience. Christina Pantelias, as EVP of Strategy at GSW New York, focuses on building brands through insights. Carolyn Gargano, SVP, Creative Director at GSW West Coast, brings 20 years in health and wellness. Their collective expertise aims to accelerate research and innovation in the healthcare industry.
Syneos Health (Nasdaq: SYNH) has announced a secondary offering of 7 million shares of its common stock at $74.95 per share, led by affiliates of Thomas H. Lee Partners and Advent International. The offering includes a 30-day option for underwriters to purchase an additional 1.05 million shares. Syneos will not receive proceeds from this sale. Concurrently, the company plans to repurchase 600,000 shares from the selling stockholders at the offering price. The offering is set to close on March 3, 2021, subject to customary conditions.
Syneos Health (Nasdaq: SYNH) announced a secondary offering of 7,000,000 shares by affiliates of Thomas H. Lee Partners and Advent International. The Selling Stockholders may grant underwriters an option for an additional 1,050,000 shares. Notably, Syneos Health will not sell any shares and will not receive proceeds from this offering. Additionally, the company will repurchase 600,000 shares from the Selling Stockholders at the public offering price, contingent on the offering's closure.
Syneos Health has announced a strategic partnership with Protocol First to enhance clinical trials through improved integration of Electronic Health Records (EHR) data and Remote Source Data Review. This partnership aims to accelerate data collection and review processes, responding to biopharmaceutical customers' demand for digital solutions. Syneos Health will utilize Protocol First’s P1 Source Upload for remote monitoring, enhancing its Dynamic Assembly network. The collaboration is set to improve trial efficiencies, thereby accelerating product time-to-market.
Syneos Health has enhanced its market access and external affairs capabilities by hiring five senior specialists from various sectors including life sciences and public affairs. This strategic move aims to improve client services, focusing on value, pricing, and public affairs. Notable hires include Mark Sudwell in Europe and Leigh Ann Bruhn from Pfizer, among others. Syneos Health Communications is dedicated to delivering integrated communications and accelerating brand performance in the biopharmaceutical space, further solidifying its role as a leading solutions provider.
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