Report: Equity group orchestrates $600M INC buyout

Bloomberg has the scoop this morning on the sale of INC Research, a major CRO which conducts clinical trials in 40 countries spanning the globe. Quoting a source with "direct knowledge," the business news service says that the private equity group Avista Capital Partners and the Ontario Teachers' Pension Plan have agreed to shell out close to $600 million for the buyout--the second big CRO acquisition deal this week.

Raleigh, NC-based INC has some 2,000 staffers and racks up about $60 million in annual revenue, Bloomberg reports, adding that the CRO industry's total revenue is expected to swell to $20 billion this year. Those kinds of figures also helped drive the sale of United BioSource, which Medco is buying for $730 million.

INC conducts Phase I through Phase IV trials for a broad range of biopharma companies developing new drugs and devices, with specialties which include pediatric and women's health therapies. INC is backed by Crosspoint Venture Partners.

- here's the story from Bloomberg

Suggested Articles

In the first half of 2020, the regenerative medicine sector raised $10.7 billion, more than the total it raised in 2019.

Creating new, successful central nervous system drugs is tough, and Lundbeck knows this better than most after canning an internal CNS effort.

After seeing later stage trials come through in obesity, Novo Nordisk is canning two projects that were aiming to help reduce patients’ weight.