• Skip to main content

DistilINFO LifeSciences

Weekly round up from Life Sciences Industry.

  • Publications
    • Home
    • DistilINFO HealthPlan
    • DistilINFO HospitalIT
    • DistilINFO IT
    • DistilINFO Retail
    • DistilINFO POPHealth
    • DistilINFO Ageing
    • DistilINFO Life Sciences
    • DistilINFO GovHealth
    • DistilINFO EHS
    • DistilINFO HealthIndia
    • Subscribe
    • Submit Article
    • Advertise
    • Newsletters

Amulet Capital Backed Synteract To Be Acquired by Syneos Health

Share:

November 4, 2020

Amulet Capital Partners, LP (“Amulet”), a middle-market private equity investment firm based in Greenwich, CT, focused exclusively on the healthcare sector, announced today that it has entered into a definitive agreement to sell its portfolio company, Synteract Inc. (“Synteract” or the “Company”), a leading contract research organization (CRO) that supports biotech and pharma companies across all phases of drug development, to Syneos Health, Inc. (“Syneos Health”) (NASDAQ: SYNH).

Amulet acquired Synteract in May 2016 and recruited industry veteran Steve Powell, who joined the Company as CEO in 2017. The executive team organized the Company around centers of development in the high-growth therapeutic areas of oncology, dermatology, neuroscience, pediatrics and rare and orphan diseases, while also expanding the Company’s global delivery capacity across three continents. In partnership with Amulet, Synteract drove significant organic growth through increased focus on its core emerging biopharma customer segment, reinforced by enhanced operational and commercial initiatives. This organic growth, together with three accretive acquisitions—Cu-Tech, KinderPharm and ClinData—resulted in a more than doubling of EBITDA under Amulet’s ownership.

“This transaction marks the culmination of a very successful partnership with Amulet. Synteract achieved outstanding financial growth and market recognition over the last four years,” said Synteract CEO Steve Powell.” The Synteract team is very proud of our collective accomplishments. We are honored and humbled that Syneos Health, the leading end-to-end biopharmaceutical product development organization, recognizes the value of our business and our differentiated value proposition to emerging biopharma customers.”

Ramsey Frank, Partner and Co-Founder of Amulet said, “We would like to congratulate and thank Steve Powell, Karl Deonanan and the entire management team. Synteract has become a dramatically better company under their leadership.” Partner Nick Amigone added, “Amulet was proud to support Synteract in its value creation initiatives around organic growth, accretive M&A and operational excellence.”

Want to publish your own articles on DistilINFO Publications?

Send us an email, we will get in touch with you.

Jefferies LLC acted as sole financial advisor to Synteract on the transaction, and Skadden, Arps, Slate, Meagher and Flom LLP provided legal counsel.

Source: Biospace

Coffee with DistilINFO's Morning Updates...

Sign up for DistilINFO e-Newsletters.

Just a little bit more about you...
PROCEED
Choose Lists
BACK

Related Stories

  • How COVID-19 Made Employee Safety Work for EmployeesHow COVID-19 Made Employee Safety Work for Employees
  • UTHealth, Cerner Launch Data Science Competition To Tackle SepsisUTHealth, Cerner Launch Data Science Competition To Tackle Sepsis
  • Veranex Acquires Devicia and Clarvin, Expanding Regulatory, Quality, and Clinical Expertise for IVD and Medical DevicesVeranex Acquires Devicia and Clarvin, Expanding Regulatory, Quality, and Clinical Expertise for IVD and Medical Devices
  • Philips expands its Digital Pathology Solutions portfolio with the acquisition of PathXLPhilips expands its Digital Pathology Solutions portfolio with the acquisition of PathXL
  • Podimetrics Director Talks Supporting Patients Living with SDoH Challenges.Podimetrics Director Talks Supporting Patients Living with SDoH Challenges.
  • BioCryst Selects Er-Kim Pharmaceuticals as Commercial Partner for ORLADEYO® (berotralstat) in Turkey.BioCryst Selects Er-Kim Pharmaceuticals as Commercial Partner for ORLADEYO® (berotralstat) in Turkey.
  • Emtiro Health Taps Innovaccer to Build a Population Health Analytics Platform for NC Managed Medicaid Care LaunchEmtiro Health Taps Innovaccer to Build a Population Health Analytics Platform for NC Managed Medicaid Care Launch
  • Disruptors or Interrupters? How Apple is Faring in their Healthcare InitiativesDisruptors or Interrupters? How Apple is Faring in their Healthcare Initiatives

Trending This Week

  • Novartis Drops Eye Disease Gene Therapy from $800M Gyroscope Acquisition
  • GSAC Engineering Acquires Key Intellectual Property and Assets from Duos Technologies GroupGelStat’s Subsidiary, GSAC Engineering, Launches Intelligent Correctional Facilities Automation Systems (iCAS) in the Industrial Security Market
  • Life Launches AI Clinical Trial Matching Assistant for Cancer
  • 79% of Healthcare Execs Believe Most Drug Diversion Goes Undetected
  • Moonshot Client Axolotl Announces Merger with Carmell Therapeutics, Elevating the Field of Regenerative Medicine
  • FDA Releases Updated Final Guidance for its Breakthrough Devices Program

About Us

DistilINFO is media company that publishes Industry news, views and Interviews. We distil the information for you – saving time and keeping you up to date on your interest areas.

More About Us

Follow Us


Useful Links

  • Subscribe
  • Contact
  • Advertise
  • Privacy Policy
  • Terms of Service
  • Feedback

All Publications

  • DistilINFO HealthPlan Advisory
  • DistilINFO HospitalIT Advisory
  • DistilINFO IT Advisory
  • DistilINFO Retail Advisory
  • DistilINFO POPHealth Advisory
  • DistilINFO Ageing Advisory
  • DistilINFO Life Sciences Advisory
  • DistilINFO GovHealth Advisory
  • DistilINFO EHS Advisory
  • DistilINFO HealthIndia Advisory

© DistilINFO Publications