Overview
WASHINGTON DC (Aug. 1, 2016) – McDermott Will & Emery advised global private equity firm, Advent International, on healthcare regulatory matters in connection with its investment in inVentiv Health, a provider of clinical and commercial outsourcing services to the biopharmaceutical industry.
With the investment, Advent International joins private equity peer Thomas H. Lee Partners as an equal equity owner of Burlington, Mass.-based inVentiv Health. The equity infusion, which values inVentiv at $3.8 billion on a cash-free, debt-free basis subject to customary adjustments, is expected to be completed by the end of the year.
The McDermott team advising on this transaction was led by partner Kristian Werling. Also on the legal team were partners Ira Coleman, Vernessa Pollard, Veleka Peeples-Dyer, Ryan Higgins, Joan Polacheck and Joshua Spielman as well as associates Larry Guess, Shelby Buettner and Patrick Zanayed.
inVentiv Health provides comprehensive and integrated clinical and commercial outsourcing services to the biopharmaceutical industry. The company’s Clinical Research Organization (CRO) and Contract Commercial Organization (CCO) business model helps clients improve performance and expedite the delivery of innovative products.
The inVentiv Health client portfolio includes all 20 of the largest global biopharmaceutical companies. The company has helped to develop or commercialize 80 percent of all new drugs approved by the FDA and 70 percent approved by the EMA over the last five years. The company posted revenue of $2.2 billion and adjusted EBITDA of $343 million.
McDermott’s health advisory lawyers provide comprehensive advice to pharmaceutical, biotechnology, medical device, dietary supplement and food companies, clinical research organizations, and individuals, medical centers, physician practices and other health care providers in all aspects of the development, clinical research, product application and review, manufacture, distribution, marketing and reimbursement of drug, biologic, device and other products regulated by the FDA.
Major legal directories have identified McDermott as the undisputed leader in health care law. It is the only firm to receive Tier 1 national rankings by The Legal 500 USA, U.S. News-Best Lawyers and Chambers USA—which in 2016 ranked its health team as the only national Band 1 practice for the seventh consecutive year.
About McDermott Will & Emery
McDermott Will & Emery is a premier international law firm with a diversified business practice. Numbering more than 1,000 lawyers, we have offices in Boston, Brussels, Chicago, Dallas, Düsseldorf, Frankfurt, Houston, London, Los Angeles, Miami, Milan, Munich, New York, Orange County, Paris, Rome, Seoul, Silicon Valley and Washington, DC. Further extending our reach into Asia, we have a strategic alliance with MWE China Law Offices in Shanghai.
