Blank Rome represented Symphony Health Solutions Corporation, a provider of data, analytics, and consulting solutions to the life sciences market, in its sale to PRA Health Sciences, Inc., a leading clinical research organization.
PRA Health Sciences, Inc. (“PRA”) (NASDAQ:PRAH), a leading clinical research organization, today announced it has signed a definitive agreement to acquire Symphony Health Solutions Corporation (“Symphony Health”), a privately-held best-in-class provider of data, analytics and consulting solutions to the life sciences market. The acquisition reflects PRA’s commitment to a more agile, flexible and adaptive future of clinical development in which technology allows research to integrate seamlessly into patients’ daily lives. It also supports PRA’s commitment to provide deep, data-driven insights to optimize global clinical studies and drug commercialization from concept to compound to cure.
Based in Conshohocken, PA, Symphony Health is a trusted partner that helps the biopharmaceutical industry grow by connecting and integrating health data and analytics delivered as cloud-based solutions. The company’s Integrated Dataverse, one of the largest commercial health data assets in the United States, contains information on over 280 million lives, including robust, multi-dimensional real world evidence observations.
Symphony Health is a pioneer in the physician-level targeting environment that biopharmaceutical companies use today to provide strategic market data that analyzes the industry from the perspectives of providers, payers and patients to a variety of private and public organizations. Symphony Health has more than 250 employees and is expected to generate revenues in excess of $200 million in calendar year 2017. Symphony Health serves more than 400 active customers spanning large pharma, biotechnology, government agencies and other sectors.
The purchase price includes an upfront payment of $530 million, plus potential for a substantial earn out.
Blank Rome represented Symphony Health Solutions Corporation with a team including Linsey B. Bozzelli (Picture), Gary R. Goldenberg and Inna Zaltsman.
Law Firms: Blank Rome LLP;
Clients: Symphony Health Solutions Corporation;