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Quintiles Transnational Forms New Ownership Team with Current Investors Gillings, TPG and Temasek Joined by Bain Capital and 3i
Date:12/21/2007

New Investor Partnership Co-led by Founder and CEO Dennis Gillings, Bain

Capital and TPG

RESEARCH TRIANGLE PARK, N.C., Dec. 21 /PRNewswire/ -- Quintiles Transnational Corp. today announced the formation of a new investor partnership to support the company's continued growth under the leadership of current Chairman and CEO Dennis Gillings, CBE, and the management team. Gillings and global private investment firms Bain Capital and TPG Capital are the lead investors in the partnership, with 3i also becoming a significant investor. Temasek Holdings remains an investor in Quintiles.

As part of the transaction, One Equity Partners (OEP), the private equity arm of JPMorgan Chase (NYSE: JPM), will sell its stake in the company to the new investor partnership. OEP, with Gillings, led the original acquisition of Quintiles along with TPG Capital in September 2003. Terms of the transaction, expected to close in January 2008, were not disclosed, and the company said it is incurring no new debt as a result of the deal.

"Our new investor partnership is a strong reinforcement of Quintiles' brand and growth strategy," Gillings said, "and has been spurred by our record performance. We are pleased to move forward with our financial partners Bain Capital, TPG, 3i and Temasek. The strength of our capital structure and partnership with these leading global investors underscore our unsurpassed ability to bring innovative solutions to the pharmaceutical and biotech industries. I also want to thank One Equity Partners for their contributions over the past four years."

Jonathan Coslet, a Partner at TPG, said: "We are pleased to remain Quintiles' partner through the next stage of its growth in helping pharma and biotech transform their business models. Dennis and his team have done a remarkable job in building Quintiles into the leading global drug development, commercialization and strategic partnering company."

John Connaughton, a Managing Director at Bain Capital, stated: "We are very excited to sponsor the next phase of development for Quintiles, a market leader well positioned for continued success in the highest growth segments and regions of the world. We believe Quintiles will continue to play a critical role in bringing healthcare advances and innovations to patients in need. We have been very impressed with management, and look forward to supporting their efforts to advance the company's global leadership."

Robin Marshall, a partner at 3i, said, "3i is delighted to partner with Quintiles in the next stage of its development. Quintiles is a world class business which will continue to have a huge impact in the healthcare industry. 3i will leverage its extensive global healthcare network to help Quintiles continue its growth."

About Quintiles Transnational

Quintiles Transnational Corp. is powering the next generation of healthcare by providing a broad range of professional services in drug development, financial partnering and commercialization for the pharmaceutical, biotechnology and healthcare industries. With about 20,000 employees and offices in more than 50 countries, it is focused on providing customer-centric solutions that are the gold standard of the industry. For more information, please visit the company's web site at http://www.qtrn.com.

About Bain Capital

Bain Capital (http://www.baincapital.com) is a global private investment firm that manages several pools of capital including private equity, venture capital, public equity and leveraged debt assets with more than $65 billion in assets under management. Since its inception in 1984, Bain Capital has made private equity investments and add-on acquisitions in over 250 companies around the world, and has a team of almost 200 professionals dedicated to investing in and supporting its portfolio companies. Bain Capital has a long history of investing in healthcare, with investments in more than 50 companies including HCA, Warner Chilcott, CRC Health Group, Stericycle, M|C Communications, Wesley Jessen, and Physio Control. Headquartered in Boston, Bain Capital has offices in New York, London, Hong Kong, Shanghai, Tokyo and Munich.

About TPG Capital

TPG Capital is the global buyout group of TPG, a leading private investment firm founded in 1992, with more than $35 billion of assets under management and offices in San Francisco, London, Hong Kong, New York, Minneapolis, Fort Worth, Melbourne, Menlo Park, Moscow, Mumbai, Beijing, Shanghai, Singapore and Tokyo. TPG Capital has extensive experience with global public and private investments executed through leveraged buyouts, recapitalizations, spinouts, joint ventures and restructurings. Please visit http://www.tpg.com.

About 3i

Established in 1945, 3i is an international leader in private equity and venture capital with assets of $16 billion. 3i invests across Europe, North America and Asia. Our competitive advantage comes from our international network with more than 250 investment professionals in 14 countries, unrivaled sector depth and an extensive portfolio of approximately 750 companies. These underpin the value that we deliver to our portfolio and to our shareholders. Please visit http://www.3i.com.

About Temasek Holdings

Incorporated in 1974, Temasek Holdings is an Asia investment firm headquartered in Singapore. Temasek has a multinational staff of 300 people. Supported by affiliates and offices around Asia, it manages a diversified S$164 billion (US$108 billion) portfolio, focused primarily in Asia. Temasek is a shareholder and investor in diverse sectors such as banking & financial services, real estate, transportation & logistics, infrastructure, telecommunications & media, bioscience & healthcare, education, consumer & lifestyle, engineering & technology, as well as energy & resources.


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