Navigation Links
JLL Partners Sells PharmaNet
Date:5/17/2011

NEW YORK, May 17, 2011 /PRNewswire/ -- JLL Partners Inc. is pleased to announce that it has signed a definitive agreement to sell PharmaNet Development Group, Inc. ("PharmaNet") to inVentiv Health, Inc. PharmaNet is a leading provider of clinical development services and inVentiv Health, Inc. is a leading global provider of results-driven clinical, consulting and commercial services to the pharmaceutical and healthcare industries.

Ramsey A. Frank, a Partner of JLL, said: "We are very proud of the significant accomplishments that PharmaNet has achieved since the acquisition of the company in 2009. We have worked in close partnership with the Company's management team to drive operational efficiencies, outstanding new business momentum and the highest EBITDA levels in the Company's history."

PharmaNet expects to commence a tender offer to repurchase up to all of PharmaNet’s 10 7/8% Senior Secured Notes due 2017 (the “Notes”).  The consummation of the tender offer is expected to be subject to satisfaction of certain customary conditions, including the completion of the sale transaction and the tender of holders of at least 66 2/3% of the aggregate principal amount of the outstanding Notes. If the minimum percentage of the outstanding Notes is not tendered in response to the offer, PharmaNet may sell equity securities and use the proceeds to redeem up to 35% of the Notes prior to the closing of the sale transaction, as permitted under the Indenture for the Notes.

Jefferies & Co. Inc. and UBS Securities, LLC acted as financial advisors to PharmaNet in connection with the transaction, and Skadden, Arps, Slate, Meagher & Flom LLP acted as PharmaNet's legal counsel.

About JLL

JLL is a New York-based leading private equity investment firm with approximately $4.0 billion of capital under management. JLL's investment philosophy is to partner with outstanding management teams and invest with them in companies that they can continue to grow into market leaders. JLL has invested in a variety of industries, with special focus on financial services, education, building products, and healthcare. More information on JLL can be found on the website www.jllpartners.com.

About PharmaNet

PharmaNet Development Group, Inc., a recognized leader of global drug development services to the pharmaceutical, biotechnology, generic drug, and medical device industries, provides comprehensive capabilities in Phase I-IV clinical development, bioanalytical and bioequivalence services, regulatory, staffing, and therapeutic solutions. For the applied knowledge and intelligent solutions needed to accelerate drug development programs of all sizes around the world, PharmaNet works for you. For more information, please visit www.PharmaNet.com.

This press release is neither an offer to purchase nor a solicitation of an offer to purchase any securities. The solicitation and the offer to purchase the outstanding Notes will be made pursuant to an offer to purchase and related materials.


'/>"/>
SOURCE JLL Partners Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
2. Multiple Myeloma Research Consortium (MMRC) Partners with Novartis to Advance Phase II Study of Deacetylase Inhibitor
3. Harvard Medical School-Partners HealthCare Center for Genetics and Genomics Successfully Completes Evaluation of AutoGenomics 2C9-VKORC1 Panel to Assess Warfarin Sensitivity
4. HistoRx and Radiation Therapy Oncology Group Initiate Brain Tumor Biomarker Research Partnership
5. The Leukemia & Lymphoma Society and Cleveland Clinic Taussig Cancer Institute Announce Groundbreaking Partnership to Accelerate Drug Approvals
6. PDHI Launches ConXus Rewards, Announces Partnership With Hallmark Insights to Support Incentive-Driven Wellness Programs
7. UNICEF Partners With Causes on Facebook to Launch Charity Gift Feature
8. HealthMedias Strongest Single Quarter Results: Growth Driven by Product Enhancements, New Partnerships
9. iCAD Announces Partnership for Initiating Clinical Testing of Its Virtual Colonoscopy CAD Product
10. Catalyst Pharmaceutical Partners Begins Enrollment for Its U.S. Phase II Clinical Trial of CPP-109 in Patients with Cocaine Addiction
11. UM Maryland Industrial Partnerships Program Approves 18 Collaborative Research Projects, Worth $4.4 Million, Between University Faculty, State Technology Companies
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/12/2017)... Divoti USA will engrave and process all non-coated stainless ... FDA requirements, which stipulates new criteria regarding medical device manufacture and ... ID jewelry such as Medical ID Bracelets, can rest assured that ... the new FDA requirements . ... Divoti offers this dark mark fiber laser engraving process with ...
(Date:10/11/2017)... -- Hill-Rom Holdings, Inc. ("Hill-Rom") (NYSE: HRC), today provided an ... Puerto Rico , where the company ... Following a comprehensive onsite assessment, ... damage, temporary loss of power and minimal water damage ... operations have resumed, and the company expects to return ...
(Date:10/4/2017)... Korea , Oct. 4, 2017  South Korean-based ... next-generation CPR training aide "cprCUBE" on Kickstarter. The device ... compression during cardiac arrests with better efficiency compared to ... also offers real-time feedback on efficacy of the compression ... crowdfunding campaign has a goal to raise $5,000. ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... October 13, 2017 , ... ProVest ... the greater Dallas, Miami, and Raleigh regions, is organizing an extended charity drive ... rare and deadly chromosome abnormality. , After struggling since birth with several health ...
(Date:10/13/2017)... Pekin, IL (PRWEB) , ... October 13, 2017 ... ... Foundation, which established the certification process to promote standards of excellence for the ... iaedp™ Symposium, scheduled for March 22 – 25, 2018 in Orlando, Florida at ...
(Date:10/13/2017)... ... October 13, 2017 , ... Many families have long-term insurance that covers ... companies have a waiver for care if the client has a cognitive impairment diagnosis. ... pays for care, is often waived, so the benefits from their insurance start immediately,” ...
(Date:10/13/2017)... ... 13, 2017 , ... Talented host, actor Rob Lowe, is ... a new episode of "Success Files," which is an award-winning educational program broadcasted ... each subject in-depth with passion and integrity. , Sciatica occurs when the sciatic ...
(Date:10/12/2017)... (PRWEB) , ... October 12, 2017 , ... ... are now treating sleep apnea using cutting-edge Oventus O2Vent technology. As ... serious sleep disorder characterized by frequent cessation in breathing. Oral appliances can offer ...
Breaking Medicine News(10 mins):