PRA Health Sciences’ Secondary Offering


Simpson Thacher represented PRA Health Sciences, Inc. (“PRA”) and the selling stockholder, a fund affiliated with Kohlberg Kravis Roberts & Co. L.P. in connection with the offering.

The PRA Health Sciences offered 6,666,684 shares of common stock, and sold stockholder for aggregate gross proceeds of approximately $650 million and a concurrent repurchase by PRA of 3,079,765 of those shares from the underwriter in the offering.

PRA Health Sciences, Inc. is one of the world’s leading global contract research organizations, or CROs, by revenue, providing outsourced clinical development and data solution services to the biotechnology and pharmaceutical industries. PRA’s global clinical development platform includes approximately 70 offices across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East and over 16,400 employees worldwide. Since 2000, PRA has participated in more than 3,800 clinical trials worldwide, worked on marketed drugs across several therapeutic areas and conducted the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 85 drugs.

KKR PRA Investors L.P. acted as selling stockholder and Goldman Sachs & Co acted as underwiter on the deal.

The Simpson Thacher team included Richard Fenyes (Picture), Sung Bum Cho, Eva Kang and Pinto Adhola (Capital Markets); Jonathan Lindabury, Jennifer Levitt, Mimi Cheng and Alexandra Joseph (Banking and Credit); David Rubinsky and Pasco Struhs (Executive Compensation and Employee Benefits); James Rapp and Amanda Weiss (Public Company Advisory Practice); and Jonathan Cantor and Caroline Phillips (Tax).

Involved fees earner: Pinto Adhola – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Mimi Cheng – Simpson Thacher & Bartlett; Sung Bum Cho – Simpson Thacher & Bartlett; Richard Fenyes – Simpson Thacher & Bartlett; Alexandra Joseph – Simpson Thacher & Bartlett; Eva Kang – Simpson Thacher & Bartlett; Jennifer Levitt – Simpson Thacher & Bartlett; Jonathan Lindabury – Simpson Thacher & Bartlett; Caroline Phillips – Simpson Thacher & Bartlett; James Rapp – Simpson Thacher & Bartlett; David Rubinsky – Simpson Thacher & Bartlett; Pasco Struhs – Simpson Thacher & Bartlett; Amanda Weiss – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: KKR PRA Investors L.P.; PRA Health Sciences, Inc.;