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News Article | May 10, 2017
Site: globenewswire.com

Creates a Leading Global Biopharmaceutical Solutions Organization with Combined Net Revenue of More Than $3.2 Billion Combined Company Will Be Second Largest Biopharmaceutical Outsourcing Provider, One of the Top 3 Contract Research Organizations and the Largest Contract Commercial Organization by Net Revenue Comprehensive Suite of End-To-End Solutions to Support Development and Commercialization of Biopharmaceutical Compounds and Biologics Complementary and Diversified Customer Base with Leadership in Large, Mid-Sized and Small Biopharma Transaction Estimated to Realize Approximately $100 Million in Annual Run-Rate Cost Synergies and Projected to be Accretive to Adjusted EPS INC Research Announces First Quarter 2017 Results in a Separate Release INC Research and inVentiv Health to Host Conference Call at 8:00 a.m. ET Today RALEIGH, N.C. and BOSTON, May 10, 2017 (GLOBE NEWSWIRE) -- INC Research Holdings, Inc. (Nasdaq:INCR), a leading global Phase I–IV Contract Research Organization (“CRO”), and inVentiv Health, Inc., a leading, privately held, global CRO and Contract Commercial Organization (“CCO”), today announced that their Boards of Directors have unanimously approved a definitive merger agreement pursuant to which their businesses would combine in an all-stock transaction, creating a leading global biopharmaceutical solutions organization. Based upon the closing price of INC Research common stock on Tuesday, May 9, 2017, the transaction values inVentiv at an enterprise value of approximately $4.6 billion, and the combined company at an enterprise value of approximately $7.4 billion. Upon closing of the transaction, INC Research shareholders are expected to own approximately 53 percent and inVentiv shareholders are expected to own approximately 47 percent of the combined company on a fully diluted basis. Advent International and Thomas H. Lee Partners, two preeminent private equity firms, are currently equal equity owners of inVentiv and will remain investors in the combined company upon closing of the merger. Upon completion of the transaction the combined company will leverage commercial insights to inform the clinical trial process, designing studies to be more efficient and effective to address evolving patient and payer needs. Commercial solutions informing accelerated clinical trial design include market access, data-driven Real World Evidence (“RWE”), advocacy relations and medical affairs. The new organization’s combined clinical scale, therapeutic depth and expertise will allow it to partner with biopharmaceutical companies of all sizes to navigate an increasingly complex biopharmaceutical development and commercialization environment. Alistair Macdonald, Chief Executive Officer of INC Research, said, “Today marks a significant milestone for INC Research. Customers are increasingly seeking simultaneous approvals and product launches in multiple markets worldwide. Through this strategic combination we are bringing together two of the most innovative and respected players in the field to create a leading global biopharma solutions organization with a full suite of clinical and commercial solutions to address the needs of biopharmaceutical companies, patients, physicians and payers. The combination of INC Research and inVentiv will expand our global scale and add capabilities to grow our addressable market.” He continued, “Both companies have a history of successfully integrating acquisitions, and I am confident that we will capitalize on the many opportunities this combination creates for all stakeholders. We look forward to working closely with the talented inVentiv employees, who share our dedication to making the world a better place by bringing new therapies to patients, while building significant value for our shareholders.” Michael Bell, Chief Executive Officer of inVentiv Health, said, “As biopharmaceutical companies of all sizes face increasingly complex challenges to bring products to market, they are seeking comprehensive outsourced solutions across the clinical and commercial spectrum. The new company is purpose-built to address market realities where clinical and commercial must work together, sharing expertise, data and insights, to improve client performance.” He continued, “We believe this merger has significant client advantages as it deepens our scale, scope and therapeutic expertise. The combination also provides the opportunity to leverage INC Research’s Trusted Process® – a proven methodology to accelerate success – which can improve the overall cost of development and time to market for our customers. We have long-admired INC Research, and this is an exciting opportunity to bring together two best-in-class, industry-leading teams who share the commitment to shorten the distance from lab to life.” Following the close of the transaction, Alistair Macdonald will serve as Chief Executive Officer of the combined company, with Greg Rush serving as Chief Financial Officer and Michael Bell serving as Executive Chairman. The Board of Directors of the combined company will consist of 10 directors, with five directors designated by INC Research, including Alistair Macdonald, and with five directors designated by inVentiv, including two directors designated by Advent International, two directors designated by Thomas H. Lee Partners, and Michael Bell serving as Executive Chairman of the Board. The global organization will be headquartered in Raleigh, North Carolina, with a significant presence in the Northeast corridor of the United States, and operations worldwide, including in Asia and Europe. The companies intend to refinance certain debt in connection with the merger. Credit Suisse has provided committed financing for the transaction. The transaction, which is expected to be completed in the second half of 2017, is subject to, among other things, approval by INC Research shareholders, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the satisfaction of other regulatory requirements and other customary closing conditions. INC Research First Quarter 2017 Results In a separate press release issued earlier today, INC Research also announced financial results for the first quarter ended March 31, 2017. To access the release, please visit the INC Research Newsroom. Advisors Centerview Partners LLC is acting as INC Research’s financial advisor and Sullivan & Cromwell LLP is serving as its legal counsel. Credit Suisse is acting as inVentiv’s financial advisor and Weil, Gotshal & Manges LLP is serving as its legal counsel. Webcast and Conference Call Details A joint conference call to discuss the transaction is scheduled for today, May 10, 2017, at 8:00 a.m. EDT. To participate by telephone, dial +1 (877) 930-8058 within the United States or +1 (253) 336-7551 outside the United States, approximately 15 minutes before the scheduled start of the call. The conference ID for the call is 11961964. The conference call will also be available in listen-only mode via live webcast on the companies’ websites at www.incresearch.com and www.inVentivHealth.com. A presentation will accompany the conference call and will be posted prior to the start of the call. These slides may be accessed on the INC Research and inVentiv websites. An archived replay of the conference call will be available online on the companies’ websites at www. INCResearch.com and www.inVentivHealth.com after 1:00 p.m. EDT on May 10, 2017. In addition, an audio replay will be available for one week following the call and will be accessible by dialing +1 (855) 859-2056 within the United States or +1 (404) 537-3406 outside the United States. The audio replay ID is 11961964. About INC Research INC Research (Nasdaq:INCR) is a leading global contract research organization ("CRO") providing the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries.  Leveraging the breadth of our service offerings and the depth of our therapeutic expertise across multiple patient populations, INC Research connects customers, clinical research sites and patients to accelerate the delivery of new medicines to market.  The Company was ranked “Top CRO to Work With” among the top 10 global CROs in the 2017 CenterWatch Global Investigative Site Relationship Survey. INC Research is headquartered in Raleigh, NC, with operations across six continents and experience spanning more than 110 countries. For more information, please visit www.incresearch.com and connect with us on LinkedIn and Twitter @inc_research. About inVentiv Health inVentiv Health is a global professional services organization designed to help the biopharmaceutical industry accelerate the delivery of much-needed therapies to market. Our combined Clinical Research Organization (CRO) and Contract Commercial Organization (CCO) offer a differentiated suite of services, processes and integrated solutions that improve client performance. With more than 15,000 employees and the ability to support clients in more than 90 countries, our global scale and deep therapeutic expertise enable inVentiv to help clients successfully navigate an increasingly complex environment. For more information, visit www.inVentivHealth.com. Forward-Looking Statements This communication includes contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Such forward-looking statements reflect, among other things, our current expectations and anticipated results of operations, all of which are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, or industry results to differ materially from those expressed or implied by such forward-looking statements. Therefore, any statements contained herein that are not statements of historical fact may be forward-looking statements and should be evaluated as such. Without limiting the foregoing, the words “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “plans,” “projects,” “should,” “would,” “targets,” “will” and the negative thereof and similar words and expressions are intended to identify forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the potential timing or consummation of the proposed transaction or the anticipated benefits thereof, including, without limitation, future financial and operating results. INC Research cautions readers that these and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to risks and uncertainties related to (i) the ability to obtain shareholder and regulatory approvals, or the possibility that they may delay the transaction or that such regulatory approval may result in the imposition of conditions that could cause the parties to abandon the transaction, (ii) the risk that a condition to closing of the merger may not be satisfied; (iii) the ability of INC Research and inVentiv to integrate their businesses successfully and to achieve anticipated synergies, (iv) the possibility that other anticipated benefits of the proposed transaction will not be realized, including without limitation, anticipated revenues, expenses, earnings and other financial results, and growth and expansion of the new combined company’s operations, and the anticipated tax treatment, (v) potential litigation relating to the proposed transaction that could be instituted against INC Research, inVentiv or their respective directors, (vi) possible disruptions from the proposed transaction that could harm INC Research’s and/or inVentiv’s business, including current plans and operations, (vii) the ability of INC Research or inVentiv to retain, attract and hire key personnel, (viii) potential adverse reactions or changes to relationships with clients, employees, suppliers or other parties resulting from the announcement or completion of the merger, (ix) potential business uncertainty, including changes to existing business relationships, during the pendency of the merger that could affect INC Research’s or inVentiv’s financial performance, (x) certain restrictions during the pendency of the merger that may impact INC Research’s or inVentiv’s ability to pursue certain business opportunities or strategic transactions, (xi) continued availability of capital and financing and rating agency actions, (xii) legislative, regulatory and economic developments and (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management’s response to any of the aforementioned factors. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the proxy statement that will be filed with the Securities and Exchange Commission in connection with the proposed transaction. While the list of factors presented here is, and the list of factors to be presented in the proxy statement are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on INC Research’s or inVentiv’s consolidated financial condition, results of operations, credit rating or liquidity. Unless legally required, INC Research does not assume any obligation to update any such forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. Additional Information and Where to Find It This communication is being made in respect of the proposed merger transaction involving the INC Research and inVentiv. In connection with the proposed transaction, INC Research will file with the Securities and Exchange Commission a proxy statement and will mail the proxy statement to its shareholders. Shareholders are encouraged to read the proxy statement regarding the proposed transaction in its entirety when it becomes available and before making any voting decision as it will contain important information about the transaction. Shareholders will be able to obtain a free copy of the proxy statement (when available), as well as other filings made by INC Research regarding INC Research, inVentiv, and the proposed transaction, without charge, at the Securities and Exchange Commission’s website (http://www.sec.gov) or at INC Research’s website (investor.incresearch.com). Participants in the Solicitation INC Research and its respective executive officers, directors and other persons may be deemed to be participants in the solicitation of proxies from INC Research’s shareholders with respect to the special meeting of shareholders that will be held to consider and vote upon the approval of the share issuance and the proposed transaction. Information regarding the officers and directors of INC Research is included in its Annual Report on Form 10-K for the year ended Dec. 31, 2016, and INC Research’s notice of Annual Meeting of Shareholders and Proxy Statement, which were filed with the Securities and Exchange Commission on April 13, 2017. Other information regarding the participants in the solicitation and a description of their direct and indirect interests, by security holdings or otherwise, which may be different than those of INC Research’s shareholders generally, will be contained in the proxy statement (when filed) and other relevant materials to be filed with the Securities and Exchange Commission in connection with the proposed transaction. This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.


News Article | May 9, 2017
Site: www.businesswire.com

TOLEDO, Ohio--(BUSINESS WIRE)--NAMSA, the world’s only Medical Research Organization (MRO) that accelerates medical device development through integrated laboratory, clinical and consulting services, announced today that it has been recognized for excellence in clinical research and honored as a 2017 “CRO Leadership Award” winner. The CRO Leadership Awards are issued by Life Science Leader magazine and are based on data gathered by Industry Standard Research, a full-service biotechnology market research firm. Recipients of this prestigious award are selected based on data-driven feedback from those who have recently utilized clinical services in 27 key CRO performance categories, including Compatibility, Capabilities, Expertise, Quality and Reliability. “The CROs receiving an award this year are truly at the top of their class, and are deserving of the recognition they receive. Being ranked a top performer demonstrates a level of expertise and commitment to clinical trials and an ability to serve the needs of biopharmaceutical companies and their patients. Medical device sponsors can now make better-informed decisions when selecting a trusted, performance-driven CRO to assist in their clinical trials,” stated Ed Miseta, Executive Editor, Life Science Leader. “NAMSA is incredibly proud to be recognized by fellow industry executives as a leading CRO. This significant recognition is a direct result of our laser-like focus on accelerating medical device development and commercialization efforts for thousands of clients worldwide,” said John Gorski, NAMSA President & CEO. For nearly 50 years, NAMSA has focused on helping thousands of global customers succeed by offering the most critical services required to accelerate time-to-market and reduce costs for medical device research. Consistently recognized as a leader in medical device development – with a proven and established track record – NAMSA continuously places a dedicated focus on assisting clients in bringing life-changing therapies to the marketplace in the most efficient manner possible. Gorski continued, “Our experienced teams consistently deliver superior results for clients throughout the full spectrum of product development, including clinical research. By combining the knowledge of our dedicated Associates with our translational research approach, customers not only achieve clinical endpoints more quickly, but are also able to make more effective key commercialization decisions that lead to success.” NAMSA operates 13 offices throughout North America, Europe, the Middle East and Asia, and employs nearly 1,000 highly-experienced laboratory, clinical and consulting Associates. NAMSA is a Medical Research Organization (MRO), accelerating medical device product development through integrated laboratory, clinical and consulting services. Driven by our regulatory expertise, NAMSA’s MRO® Approach plays an important role in translational research, applying a unique combination of disciplines – consulting, regulatory, preclinical, toxicology, microbiology, chemistry, clinical and quality – to move clients’ products through the development process, and continue to provide support through commercialization to post-market requirements anywhere in the world.


News Article | May 10, 2017
Site: globenewswire.com

Creates a Leading Global Biopharmaceutical Solutions Organization with Combined Net Revenue of More Than $3.2 Billion Combined Company Will Be Second Largest Biopharmaceutical Outsourcing Provider, One of the Top 3 Contract Research Organizations and the Largest Contract Commercial Organization by Net Revenue Comprehensive Suite of End-To-End Solutions to Support Development and Commercialization of Biopharmaceutical Compounds and Biologics Complementary and Diversified Customer Base with Leadership in Large, Mid-Sized and Small Biopharma Transaction Estimated to Realize Approximately $100 Million in Annual Run-Rate Cost Synergies and Projected to be Accretive to Adjusted EPS INC Research Announces First Quarter 2017 Results in a Separate Release INC Research and inVentiv Health to Host Conference Call at 8:00 a.m. ET Today RALEIGH, N.C. and BOSTON, May 10, 2017 (GLOBE NEWSWIRE) -- INC Research Holdings, Inc. (Nasdaq:INCR), a leading global Phase I–IV Contract Research Organization (“CRO”), and inVentiv Health, Inc., a leading, privately held, global CRO and Contract Commercial Organization (“CCO”), today announced that their Boards of Directors have unanimously approved a definitive merger agreement pursuant to which their businesses would combine in an all-stock transaction, creating a leading global biopharmaceutical solutions organization. Based upon the closing price of INC Research common stock on Tuesday, May 9, 2017, the transaction values inVentiv at an enterprise value of approximately $4.6 billion, and the combined company at an enterprise value of approximately $7.4 billion. Upon closing of the transaction, INC Research shareholders are expected to own approximately 53 percent and inVentiv shareholders are expected to own approximately 47 percent of the combined company on a fully diluted basis. Advent International and Thomas H. Lee Partners, two preeminent private equity firms, are currently equal equity owners of inVentiv and will remain investors in the combined company upon closing of the merger. Upon completion of the transaction the combined company will leverage commercial insights to inform the clinical trial process, designing studies to be more efficient and effective to address evolving patient and payer needs. Commercial solutions informing accelerated clinical trial design include market access, data-driven Real World Evidence (“RWE”), advocacy relations and medical affairs. The new organization’s combined clinical scale, therapeutic depth and expertise will allow it to partner with biopharmaceutical companies of all sizes to navigate an increasingly complex biopharmaceutical development and commercialization environment. Alistair Macdonald, Chief Executive Officer of INC Research, said, “Today marks a significant milestone for INC Research. Customers are increasingly seeking simultaneous approvals and product launches in multiple markets worldwide. Through this strategic combination we are bringing together two of the most innovative and respected players in the field to create a leading global biopharma solutions organization with a full suite of clinical and commercial solutions to address the needs of biopharmaceutical companies, patients, physicians and payers. The combination of INC Research and inVentiv will expand our global scale and add capabilities to grow our addressable market.” He continued, “Both companies have a history of successfully integrating acquisitions, and I am confident that we will capitalize on the many opportunities this combination creates for all stakeholders. We look forward to working closely with the talented inVentiv employees, who share our dedication to making the world a better place by bringing new therapies to patients, while building significant value for our shareholders.” Michael Bell, Chief Executive Officer of inVentiv Health, said, “As biopharmaceutical companies of all sizes face increasingly complex challenges to bring products to market, they are seeking comprehensive outsourced solutions across the clinical and commercial spectrum. The new company is purpose-built to address market realities where clinical and commercial must work together, sharing expertise, data and insights, to improve client performance.” He continued, “We believe this merger has significant client advantages as it deepens our scale, scope and therapeutic expertise. The combination also provides the opportunity to leverage INC Research’s Trusted Process® – a proven methodology to accelerate success – which can improve the overall cost of development and time to market for our customers. We have long-admired INC Research, and this is an exciting opportunity to bring together two best-in-class, industry-leading teams who share the commitment to shorten the distance from lab to life.” Following the close of the transaction, Alistair Macdonald will serve as Chief Executive Officer of the combined company, with Greg Rush serving as Chief Financial Officer and Michael Bell serving as Executive Chairman. The Board of Directors of the combined company will consist of 10 directors, with five directors designated by INC Research, including Alistair Macdonald, and with five directors designated by inVentiv, including two directors designated by Advent International, two directors designated by Thomas H. Lee Partners, and Michael Bell serving as Executive Chairman of the Board. The global organization will be headquartered in Raleigh, North Carolina, with a significant presence in the Northeast corridor of the United States, and operations worldwide, including in Asia and Europe. The companies intend to refinance certain debt in connection with the merger. Credit Suisse has provided committed financing for the transaction. The transaction, which is expected to be completed in the second half of 2017, is subject to, among other things, approval by INC Research shareholders, the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the satisfaction of other regulatory requirements and other customary closing conditions. INC Research First Quarter 2017 Results In a separate press release issued earlier today, INC Research also announced financial results for the first quarter ended March 31, 2017. To access the release, please visit the INC Research Newsroom. Advisors Centerview Partners LLC is acting as INC Research’s financial advisor and Sullivan & Cromwell LLP is serving as its legal counsel. Credit Suisse is acting as inVentiv’s financial advisor and Weil, Gotshal & Manges LLP is serving as its legal counsel. Webcast and Conference Call Details A joint conference call to discuss the transaction is scheduled for today, May 10, 2017, at 8:00 a.m. EDT. To participate by telephone, dial +1 (877) 930-8058 within the United States or +1 (253) 336-7551 outside the United States, approximately 15 minutes before the scheduled start of the call. The conference ID for the call is 11961964. The conference call will also be available in listen-only mode via live webcast on the companies’ websites at www.incresearch.com and www.inVentivHealth.com. A presentation will accompany the conference call and will be posted prior to the start of the call. These slides may be accessed on the INC Research and inVentiv websites. An archived replay of the conference call will be available online on the companies’ websites at www. INCResearch.com and www.inVentivHealth.com after 1:00 p.m. EDT on May 10, 2017. In addition, an audio replay will be available for one week following the call and will be accessible by dialing +1 (855) 859-2056 within the United States or +1 (404) 537-3406 outside the United States. The audio replay ID is 11961964. About INC Research INC Research (Nasdaq:INCR) is a leading global contract research organization ("CRO") providing the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries.  Leveraging the breadth of our service offerings and the depth of our therapeutic expertise across multiple patient populations, INC Research connects customers, clinical research sites and patients to accelerate the delivery of new medicines to market.  The Company was ranked “Top CRO to Work With” among the top 10 global CROs in the 2017 CenterWatch Global Investigative Site Relationship Survey. INC Research is headquartered in Raleigh, NC, with operations across six continents and experience spanning more than 110 countries. For more information, please visit www.incresearch.com and connect with us on LinkedIn and Twitter @inc_research. About inVentiv Health inVentiv Health is a global professional services organization designed to help the biopharmaceutical industry accelerate the delivery of much-needed therapies to market. Our combined Clinical Research Organization (CRO) and Contract Commercial Organization (CCO) offer a differentiated suite of services, processes and integrated solutions that improve client performance. With more than 15,000 employees and the ability to support clients in more than 90 countries, our global scale and deep therapeutic expertise enable inVentiv to help clients successfully navigate an increasingly complex environment. For more information, visit www.inVentivHealth.com. Forward-Looking Statements This communication includes contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Such forward-looking statements reflect, among other things, our current expectations and anticipated results of operations, all of which are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements, market trends, or industry results to differ materially from those expressed or implied by such forward-looking statements. Therefore, any statements contained herein that are not statements of historical fact may be forward-looking statements and should be evaluated as such. Without limiting the foregoing, the words “anticipates,” “believes,” “can,” “continue,” “could,” “estimates,” “expects,” “intends,” “may,” “might,” “plans,” “projects,” “should,” “would,” “targets,” “will” and the negative thereof and similar words and expressions are intended to identify forward-looking statements. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements about the potential timing or consummation of the proposed transaction or the anticipated benefits thereof, including, without limitation, future financial and operating results. INC Research cautions readers that these and other forward-looking statements are not guarantees of future results and are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those expressed in any forward-looking statements. Important risk factors that may cause such a difference include, but are not limited to risks and uncertainties related to (i) the ability to obtain shareholder and regulatory approvals, or the possibility that they may delay the transaction or that such regulatory approval may result in the imposition of conditions that could cause the parties to abandon the transaction, (ii) the risk that a condition to closing of the merger may not be satisfied; (iii) the ability of INC Research and inVentiv to integrate their businesses successfully and to achieve anticipated synergies, (iv) the possibility that other anticipated benefits of the proposed transaction will not be realized, including without limitation, anticipated revenues, expenses, earnings and other financial results, and growth and expansion of the new combined company’s operations, and the anticipated tax treatment, (v) potential litigation relating to the proposed transaction that could be instituted against INC Research, inVentiv or their respective directors, (vi) possible disruptions from the proposed transaction that could harm INC Research’s and/or inVentiv’s business, including current plans and operations, (vii) the ability of INC Research or inVentiv to retain, attract and hire key personnel, (viii) potential adverse reactions or changes to relationships with clients, employees, suppliers or other parties resulting from the announcement or completion of the merger, (ix) potential business uncertainty, including changes to existing business relationships, during the pendency of the merger that could affect INC Research’s or inVentiv’s financial performance, (x) certain restrictions during the pendency of the merger that may impact INC Research’s or inVentiv’s ability to pursue certain business opportunities or strategic transactions, (xi) continued availability of capital and financing and rating agency actions, (xii) legislative, regulatory and economic developments and (xiii) unpredictability and severity of catastrophic events, including, but not limited to, acts of terrorism or outbreak of war or hostilities, as well as management’s response to any of the aforementioned factors. These risks, as well as other risks associated with the proposed transaction, will be more fully discussed in the proxy statement that will be filed with the Securities and Exchange Commission in connection with the proposed transaction. While the list of factors presented here is, and the list of factors to be presented in the proxy statement are, considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Consequences of material differences in results as compared with those anticipated in the forward-looking statements could include, among other things, business disruption, operational problems, financial loss, legal liability to third parties and similar risks, any of which could have a material adverse effect on INC Research’s or inVentiv’s consolidated financial condition, results of operations, credit rating or liquidity. Unless legally required, INC Research does not assume any obligation to update any such forward-looking information to reflect actual results or changes in the factors affecting such forward-looking information. Additional Information and Where to Find It This communication is being made in respect of the proposed merger transaction involving the INC Research and inVentiv. In connection with the proposed transaction, INC Research will file with the Securities and Exchange Commission a proxy statement and will mail the proxy statement to its shareholders. Shareholders are encouraged to read the proxy statement regarding the proposed transaction in its entirety when it becomes available and before making any voting decision as it will contain important information about the transaction. Shareholders will be able to obtain a free copy of the proxy statement (when available), as well as other filings made by INC Research regarding INC Research, inVentiv, and the proposed transaction, without charge, at the Securities and Exchange Commission’s website (http://www.sec.gov) or at INC Research’s website (investor.incresearch.com). Participants in the Solicitation INC Research and its respective executive officers, directors and other persons may be deemed to be participants in the solicitation of proxies from INC Research’s shareholders with respect to the special meeting of shareholders that will be held to consider and vote upon the approval of the share issuance and the proposed transaction. Information regarding the officers and directors of INC Research is included in its Annual Report on Form 10-K for the year ended Dec. 31, 2016, and INC Research’s notice of Annual Meeting of Shareholders and Proxy Statement, which were filed with the Securities and Exchange Commission on April 13, 2017. Other information regarding the participants in the solicitation and a description of their direct and indirect interests, by security holdings or otherwise, which may be different than those of INC Research’s shareholders generally, will be contained in the proxy statement (when filed) and other relevant materials to be filed with the Securities and Exchange Commission in connection with the proposed transaction. This communication is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or a solicitation of any vote of approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.


News Article | May 11, 2017
Site: www.prnewswire.com

Helping to drive this expansion will be Perry Ofir, Simplaex's newly-appointed CRO who was formerly VP of Sales & Business Development at Adgorithms. Simplaex launched in April 2016 as a groundbreaking marketing platform for game developers. In the twelve months since, it has grown into a sophisticated data marketplace with over 300 million unique user profiles. On the back of this impressive growth, the company is now looking to expand beyond the gaming industry. To this end, Simplaex is repositioning itself as the most advanced data insight & activation platform. Using Simplaex's technology, brands and marketing agencies can follow a consumer's digital footprint in real-time. Companies can use these insights to acquire new customers, retain their most-valued customers and find new opportunities for monetization. "There has been a lot of technological progress in the advertising industry," says Jeffry van Ede, Co-founder and CEO of Simplaex and a former Sony executive. "Yet most of this progress has barely benefited the advertisers and that is exactly what we aim for. By extracting data meaningfully and instantly acting on it, companies can gain competitive advantage by being more targeted and drive richer customer interactions." The new funding round will help Co-founders Moti Tal (CTO) and Jeffry van Ede (CEO) to solidify Simplaex's position as the leading customer data platform. The $2.6 million was invested by Target Partners, Antheria Holding AG and High-Tech Gründer Fonds. To learn more about the Simplaex, please contact us at http://www.simplaex.com.


News Article | May 10, 2017
Site: globenewswire.com

RALEIGH, N.C., May 10, 2017 (GLOBE NEWSWIRE) -- INC Research Holdings, Inc. (NASDAQ:INCR), a leading global Phase I to Phase IV contract research organization, today reported financial results for the first quarter ended March 31, 2017. “INC Research is off to a strong start in 2017, with record gross awards and continued expansion of capabilities in key areas of importance to our customers,” said Chief Executive Officer Alistair Macdonald. “INC’s ability to work in a variety of flexible outsourcing models - full service, functional service, or a hybrid of both - is resonating increasingly with our customers, as demonstrated by our robust awards and strategic partnership opportunities secured during the quarter.” He concluded, “I’d like to thank our nearly 6,900 employees worldwide for their efforts in helping us to deliver a strong first quarter and once again earn INC recognition as the ‘Top CRO to Work With’ among top 10 global CROs in the 2017 CenterWatch Global Investigative Site Relationship Survey. INC is proud to be the only CRO ranked among the top three in all CenterWatch site relationship surveys conducted over the past decade and believe this recognition is a strong testament to our support of and collaboration with sites in bringing new medicines to market for patients. We remain committed to enhancing our relationships with sites and all stakeholders across the clinical research community as we work to establish INC as the CRO of Choice.” Net service revenue for the three months ended March 31, 2017 increased by 1.2% to $252.1 million, compared to net service revenue of $249.0 million for the three months ended March 31, 2016. During the first quarter of 2017, our net service revenue growth was primarily attributable to the increase in our FSP business. During the three months ended March 31, 2017, fluctuations in foreign currency exchange rates resulted in an unfavorable impact of $3.5 million on net service revenue compared to the same period in 2016. Income from operations for the three months ended March 31, 2017 increased by 6.9% to $34.8 million, compared to $32.5 million for the three months ended March 31, 2016. Operating margin for the three months ended March 31, 2017 was 13.8% compared to 13.1% for the same period in 2016. The Company's income from operations includes certain expenses and transactions that it believes are not representative of its core operations. Excluding these items, adjusted income from operations remained relatively flat at $52.0 million for the three months ended March 31, 2017, compared to $52.2 million for the three months ended March 31, 2016. Adjusted operating margin for the three months ended March 31, 2017, was 20.6% compared to 21.0% for the same period in 2016. The Company reported net income for the three months ended March 31, 2017 of $21.2 million, resulting in diluted earnings per share of $0.38, compared to $17.4 million, or $0.31 per diluted share, for the three months ended March 31, 2016.  Adjusted net income for the three months ended March 31, 2017 was $33.1 million, or $0.60 per diluted share, compared to $32.5 million, or $0.58 per diluted share, for the same period in 2016. Adjusted EBITDA for the three months ended March 31, 2017 increased to $58.1 million, up from $57.1 million for the three months ended March 31, 2016. For the three months ended March 31, 2017, adjusted EBITDA margin was 23.1%, compared to 22.9% for the same period in 2016. Important disclosures about and reconciliations of non-GAAP measures, including adjusted income from operations, adjusted operating margin, adjusted net income and adjusted diluted earnings per share, EBITDA and adjusted EBITDA, to the corresponding GAAP measures are provided below. Backlog grew by 12.2% to $2.10 billion as of March 31, 2017, compared to $1.87 billion as of March 31, 2016. For the three months ended March 31, 2017, fluctuations in foreign currency exchange rates resulted in a favorable impact on our March 31, 2017 backlog in the amount of $7.1 million, primarily due to the strengthening of the Euro against the U.S. dollar. Net new business awards grew 19.0% to $359.9 million for the three months ended March 31, 2017, representing a book-to-bill ratio of 1.4x, compared to $302.4 million for the three months ended March 31, 2016. The Company's full-year guidance for 2017 is outlined in the following table. The guidance takes into account a number of factors, including current sales pipeline, approximately $705 million of existing backlog expected to translate into revenue in 2017, and our expectations for additional net new awards during 2017. Further, our guidance is based on current foreign currency exchange rates, current interest rates and our expected tax rates, and does not take into account the effects of any future stock repurchases. Important disclosures about and reconciliations of non-GAAP measures, including adjusted net income and adjusted diluted earnings per share, to the corresponding GAAP measures are provided below. INC Research will host a conference call at 8:00 a.m. EDT on May 10, 2017, to discuss its first quarter 2017 financial results. The live webcast will be available in listen-only mode in the Events section of the Company's Investor Relations website at investor.incresearch.com. To participate via phone, please dial +1 (877) 930-8058 within the United States or +1 (253) 336-7551 outside the United States, approximately 15 minutes before the scheduled start of the call.  The conference ID for the call is 11961964. An archived replay of the conference call will be available online at investor.incresearch.com after 1:00 p.m. EDT on May 10, 2017. In addition, an audio replay will be available for one week following the call and will be accessible by dialing +1 (855) 859-2056 within the United States or +1 (404) 537-3406 outside the United States. The audio replay ID is 11961964. INC Research (NASDAQ:INCR) is a leading global contract research organization ("CRO") providing the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Leveraging the breadth of our service offerings and the depth of our therapeutic expertise across multiple patient populations, INC Research connects customers, clinical research sites and patients to accelerate the delivery of new medicines to market. The Company was ranked “Top CRO to Work With” among the top 10 global CROs in the 2017 CenterWatch Global Investigative Site Relationship Survey. INC Research is headquartered in Raleigh, NC, with operations across six continents and experience spanning more than 110 countries. For more information, please visit www.incresearch.com and connect with us on LinkedIn and Twitter @inc_research. Except for historical information, all of the statements, expectations, and assumptions contained in this press release, including our updated 2017 guidance, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to: our ability to maintain or generate new business awards; our backlog not being indicative of future revenues and our ability to realize the anticipated future revenue reflected in our backlog; our ability to adequately price our contracts and not overrun cost estimates; general and international economic, political and other risks, including currency and stock market fluctuations and the uncertain economic environment; fluctuations in our financial results; reliance on key personnel; our customer or therapeutic area concentration; our ability to increase our market share, grow our business and execute our growth strategies; and the other risk factors set forth in our Form 10-K for the year ended December 31, 2016 and other SEC filings, copies of which are available free of charge on our website at investor.incresearch.com. INC Research assumes no obligation and does not intend to update these forward-looking statements, except as required by law. Use of Non-GAAP Financial Measures In addition to the financial measures prepared in accordance with GAAP, this press release contains certain non-GAAP financial measures, including Adjusted Income from Operations, Adjusted Operating Margin, Adjusted Net Income (including Adjusted Diluted Earnings per Share), EBITDA and Adjusted EBITDA.  A “non-GAAP financial measure” is generally defined as a numerical measure of a company’s financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of operations, balance sheets or statements of cash flows of the Company. The Company defines Adjusted Income from Operations as income from operations excluding expenses and transactions that the Company believes are not representative of its core operations, namely, acquisition-related amortization; restructuring, CEO transition, and other costs; transaction expenses; share-based compensation expense; and contingent consideration related to acquisitions and other expense. The Company defines Adjusted Operating Margin as adjusted income from operations as a percentage of net service revenue. The Company defines Adjusted Net Income (including Adjusted Diluted Earnings per Share) as net income (including diluted earnings per share) excluding the items excluded from adjusted income from operations mentioned previously and other expense. After giving effect to these items and other unusual tax impacts during the period, the Company has also included an adjustment to its income tax rate to reflect the expected long-term income tax rate. EBITDA represents earnings before interest, taxes, depreciation and amortization. The Company defines Adjusted EBITDA as EBITDA, further adjusted to exclude certain expenses and transactions that the Company believes are not representative of its core operations, namely, restructuring, CEO transition, and other costs; transaction expenses; share-based compensation expense; contingent consideration related to acquisitions and other expense; and other expense. The Company presents EBITDA and Adjusted EBITDA because it believes they are useful metrics for investors as they are commonly used by investors, analysts and debt holders to measure the Company's ability to fund capital expenditures and meet working capital requirements. Each of the non-GAAP measures noted above are used by management and the Board to evaluate the Company's core operating results as they exclude certain items whose fluctuations from period-to-period do not necessarily correspond to changes in the core operations of the business. Adjusted Income from Operations, Adjusted Operating Margin and Adjusted Net Income (including Adjusted Diluted Earnings per Share) are used by management and the Board to assess the Company's business. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP. Also, other companies might calculate these measures differently. Investors are encouraged to review the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP measures included in this press release and the accompanying tables.


Prior to joining Spanish Broadcasting System (SBS), Hudson served as EVP of Sales for America CV Network/ America TeVe. He also worked in sales at HBC for WRTO-98.3FM, WAMR-107.5FM and WQBA-1140AM, WAQI-710AM and then as General Sales Manager of WRTO-98.3FM. He started his radio career at WSUA-Radio Suave after graduating from the University of Miami in 1989 with a Degree in Broadcasting. He is a proud Miami native. "Donny's radio experience and acumen are a matter of indisputable record and we're confident in his leadership abilities and ability to take our Miami stations to the highest level of operational excellence. He knows radio, he knows the advertisers, he knows the Company and its people and he's intimately familiar with our Miami stations and audiences. No one is more qualified to take over the reins of SBS Miami," stated, Albert Rodriguez COO of SBS. "I am extremely excited for this opportunity and look to continue using my experience and relentless drive to grow SBS Miami shares while working alongside the great team and family that we have at SBS Miami," stated Donny Hudson. "Donny's track record in South Florida media has proven him to be one of the most effective leaders in our business. Donny, throughout the years has left historical revenue marks that have remained untouched through its time. In 2005, Donny and his team led WXDJ to finish number one in revenue, ahead of all Miami radio stations regardless of language. These established benchmarks will remain constant in 2017, as part of his strategic revenue and operational action plan. As we continue to work on strengthening and revolutionize the radio marketplace, we are confident that Donny and the Miami team will solidify its leadership position in our home market for the company," stated Eric Garcia, CRO of SBS Radio Division & General Manager of SBS New York. Donny's vision for the radio industry has been honed and cultivated over decades of hands-on radio broadcasting experience plus a vast knowledge of effective sales and management philosophies across media platforms. Mr. Hudson will immediately assume his duties and responsibilities. He will be based at the Company's Miami Broadcast Center headquarters reporting to COO, Albert Rodriguez. Spanish Broadcasting System, Inc. is a leading Hispanic media company that owns and operates 17 radio stations located in the top U.S. Hispanic markets of New York, Los Angeles, Miami, Chicago, San Francisco and Puerto Rico, airing the Spanish Tropical, Regional Mexican, Spanish Adult Contemporary, Top 40 and Latin Rhythmic format genres. SBS also operates AIRE Radio Networks, a national radio platform which creates, distributes and markets leading Spanish-language radio programming to over 250 affiliated stations reaching 93% of the U.S. Hispanic audience. SBS also owns MegaTV, a television operation with over-the-air, cable and satellite distribution and affiliates throughout the U.S. and Puerto Rico. SBS also produces live concerts and events and owns multiple bilingual websites and LaMusica, a mobile app providing content related to Latin music, entertainment, news and culture. For more information, visit us online at www.spanishbroadcasting.com. To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/donny-hudson-named-general-manager--vp-of-sales-of-spanish-broadcasting-system-radio-miami-300455582.html


NEW YORK--(BUSINESS WIRE)--Trusted Media Brands Inc., (TMBI) today announced seven new video series aligned with its Taste of Home, Reader's Digest and The Family Handyman / Haven Home Media properties during its NewFronts presentation, “Home Starts Here,” at New York City’s Crosby Street Hotel. At the presentation, TMBI reinforced its continued commitment to rapid growth as a digital-first multi-platform media company, showcasing cross-platform approaches for advertisers with a focus on video storytelling in a transparent, brand-safe environment. To meet marketers’ needs for increased video advertising and integrated brand campaign options, TMBI announced its plans to add over 25 new roles to its digital team. The new digital team members will support the growing roster of digital programming, as well as create custom video content for advertisers. The TMBI digital team will work in collaboration with Arcade Creative Group, the creative and marketing agency born from Sony Music, as a result of a new content partnership agreement announced earlier this year. Following its inaugural NewFronts presentation in 2016, TMBI worked with multiple brand clients and agencies, including Sterling, Eggland’s Best and other Fortune 100 companies, to create 65 video campaigns for its top properties. The new TMBI original series unveiled today include: Reader's Digest is planning two new series, including "My Morning Ritual," which explores the healthy morning habits of well-known people from all walks of life. This series will turn “healthy” into a fascinating and diverse storyline spanning an eclectic world of inspiring lifestyles and backgrounds. A second series, “________ Your Way to Better Health,” highlights ways to stay healthy beyond physical fitness. Each episode showcases a different health topic – from eating and sleeping to listening and loving. Taste of Home's "Everyday Gorgeous" food and styling video series aims to inspire audiences to make everyday table and food experiences into moments of beauty with quick tips to transform meals. The kitchen inspiration continued with Taste of Home’s other series, “Test Kitchen Shorts.” These quick and easy-to-consume videos share surprising and fun shortcuts, tricks and ideas that will excite any curious, enthusiastic home cook. The Family Handyman introduced "The Design+Build Challenge,” a series pitting seasoned Family Handyman editors against a team of up-and-coming makers to create new furniture from salvaged junk. Using scavenged materials and a little bit of ingenuity, these competitors will give viewers a glimpse of the design and build process as stamina and creativity are put to the test. The new lineup also features an original series from Haven Home Media, "Bragging Rights," hosted by professional house flippers, Dave Seymour and Pete Souhleris, formerly of A&E’s Flipping Boston. Within each episode, the design team will complete first-rate, specialty home features creating prideful projects for viewers to implement and boast about. The Family Handyman also showcased “5-½ Hacks,” a video series featuring fun, creative, and easy-to-use ideas for fixing, cleaning, storing, entertaining and making home life easier. “Our new video offerings allow our loyal audience to easily consume and connect in authentic and engaging ways,” said Bonnie Kintzer, Trusted Media Brands’ CEO. “Expanding our team demonstrates our commitment to digital growth. We’ll be producing more digital content to customize and distribute using formats that will resonate with our audience while also delivering results for our brand partners.” TMBI emphasized its commitment to brand safety during the presentation, highlighting its unique capability to offer advertisers a trusted digital environment safe from the risk of placement near unsavory content. As the media industry has evolved and significantly expanded its digital offerings across platforms, TMBI has kept brand safety at the forefront of its consumer-first approach. In a recent Advertiser Perceptions study, 74 percent of advertisers and marketers agree TMBI is a top media company in providing trusted, brand-safe environments for digital advertising. “Providing great content in a trusted, brand-safe environment is the promise we make every day to ensure a positive experience for both our marketing partners and consumer audiences,” said Rich Sutton, CRO at Trusted Media Brands. “‘Home Starts Here’ underscores this message. People feel safe when they feel at home. Our brands’ trust by consumers and advertisers is a source of pride for all of us at TMBI.” Today, TMBI also released its most recent survey, “Social Cracks the Digital Video Code,” conducted by Advertiser Perceptions on its behalf. Participants included over 300 marketer and agency contacts who are involved in media brand selection decisions. The survey addressed industry decision makers’ sentiments toward the importance of key elements in the digital video process. The findings revealed that social and video platforms are still favored for those planning digital video campaigns. Even with increased hesitations and uncertainty regarding brand safety on social and video platforms over the past few months, 68 percent (two-thirds) of respondents agreed social is the most important partner for digital video campaigns. Video platforms follow with 60 percent. Since TMBI’s last video survey in June 2016, the gap between the importance of social media as a top distribution partner and video platforms has shifted from video platforms rated three points ahead of social platforms, to social now ahead by 12 percent. The full whitepaper, including additional key findings, can be downloaded here. Trusted Media Brands, Inc., currently reaches one in three U.S. millennials; and 40 percent of TMBI Digital Networks monthly audience are millennial. TMBI has 53.8 million consumers on its digital platforms, a 55 percent increase in audience growth since 2014 (ComScore May 2016). Across its properties’ combined social channels, TMBI has over 60 million followers reaching 21 million adult millennials (25-39 years old). Over the past three years, the company has increased its mobile unique visitors by 103 percent. Trusted Media Brands, Inc. is a visionary, brand-driven multiplatform media company, home to iconic brands like Taste of Home, the world’s largest circulation food media brand; Reader’s Digest; The Family Handyman, America’s leading source for DIY; a suite of highly-targeted brands including Birds & Blooms, Country, Country Woman, Farm & Ranch Living and Reminisce; and digital properties which include EnrichU, the Taste Community and Haven Home Media. Trusted Media Brands reaches active consumers who genuinely connect with our blend of uplifting and enduring expertly-curated family, food, health, home improvement, finance and humor content – digitally, via social media, magazines and books, and events and experiences. Founded in 1922 by DeWitt Wallace as The Reader’s Digest Association, one of the first user-generated content publishers, Trusted Media Brands is headquartered in New York City. For more information, visit TMBI.com.


News Article | May 10, 2017
Site: globenewswire.com

RALEIGH, N.C., May 10, 2017 (GLOBE NEWSWIRE) -- INC Research Holdings, Inc. (NASDAQ:INCR), a leading global Phase I to Phase IV contract research organization, today reported financial results for the first quarter ended March 31, 2017. “INC Research is off to a strong start in 2017, with record gross awards and continued expansion of capabilities in key areas of importance to our customers,” said Chief Executive Officer Alistair Macdonald. “INC’s ability to work in a variety of flexible outsourcing models - full service, functional service, or a hybrid of both - is resonating increasingly with our customers, as demonstrated by our robust awards and strategic partnership opportunities secured during the quarter.” He concluded, “I’d like to thank our nearly 6,900 employees worldwide for their efforts in helping us to deliver a strong first quarter and once again earn INC recognition as the ‘Top CRO to Work With’ among top 10 global CROs in the 2017 CenterWatch Global Investigative Site Relationship Survey. INC is proud to be the only CRO ranked among the top three in all CenterWatch site relationship surveys conducted over the past decade and believe this recognition is a strong testament to our support of and collaboration with sites in bringing new medicines to market for patients. We remain committed to enhancing our relationships with sites and all stakeholders across the clinical research community as we work to establish INC as the CRO of Choice.” Net service revenue for the three months ended March 31, 2017 increased by 1.2% to $252.1 million, compared to net service revenue of $249.0 million for the three months ended March 31, 2016. During the first quarter of 2017, our net service revenue growth was primarily attributable to the increase in our FSP business. During the three months ended March 31, 2017, fluctuations in foreign currency exchange rates resulted in an unfavorable impact of $3.5 million on net service revenue compared to the same period in 2016. Income from operations for the three months ended March 31, 2017 increased by 6.9% to $34.8 million, compared to $32.5 million for the three months ended March 31, 2016. Operating margin for the three months ended March 31, 2017 was 13.8% compared to 13.1% for the same period in 2016. The Company's income from operations includes certain expenses and transactions that it believes are not representative of its core operations. Excluding these items, adjusted income from operations remained relatively flat at $52.0 million for the three months ended March 31, 2017, compared to $52.2 million for the three months ended March 31, 2016. Adjusted operating margin for the three months ended March 31, 2017, was 20.6% compared to 21.0% for the same period in 2016. The Company reported net income for the three months ended March 31, 2017 of $21.2 million, resulting in diluted earnings per share of $0.38, compared to $17.4 million, or $0.31 per diluted share, for the three months ended March 31, 2016.  Adjusted net income for the three months ended March 31, 2017 was $33.1 million, or $0.60 per diluted share, compared to $32.5 million, or $0.58 per diluted share, for the same period in 2016. Adjusted EBITDA for the three months ended March 31, 2017 increased to $58.1 million, up from $57.1 million for the three months ended March 31, 2016. For the three months ended March 31, 2017, adjusted EBITDA margin was 23.1%, compared to 22.9% for the same period in 2016. Important disclosures about and reconciliations of non-GAAP measures, including adjusted income from operations, adjusted operating margin, adjusted net income and adjusted diluted earnings per share, EBITDA and adjusted EBITDA, to the corresponding GAAP measures are provided below. Backlog grew by 12.2% to $2.10 billion as of March 31, 2017, compared to $1.87 billion as of March 31, 2016. For the three months ended March 31, 2017, fluctuations in foreign currency exchange rates resulted in a favorable impact on our March 31, 2017 backlog in the amount of $7.1 million, primarily due to the strengthening of the Euro against the U.S. dollar. Net new business awards grew 19.0% to $359.9 million for the three months ended March 31, 2017, representing a book-to-bill ratio of 1.4x, compared to $302.4 million for the three months ended March 31, 2016. The Company's full-year guidance for 2017 is outlined in the following table. The guidance takes into account a number of factors, including current sales pipeline, approximately $705 million of existing backlog expected to translate into revenue in 2017, and our expectations for additional net new awards during 2017. Further, our guidance is based on current foreign currency exchange rates, current interest rates and our expected tax rates, and does not take into account the effects of any future stock repurchases. Important disclosures about and reconciliations of non-GAAP measures, including adjusted net income and adjusted diluted earnings per share, to the corresponding GAAP measures are provided below. INC Research will host a conference call at 8:00 a.m. EDT on May 10, 2017, to discuss its first quarter 2017 financial results. The live webcast will be available in listen-only mode in the Events section of the Company's Investor Relations website at investor.incresearch.com. To participate via phone, please dial +1 (877) 930-8058 within the United States or +1 (253) 336-7551 outside the United States, approximately 15 minutes before the scheduled start of the call.  The conference ID for the call is 11961964. An archived replay of the conference call will be available online at investor.incresearch.com after 1:00 p.m. EDT on May 10, 2017. In addition, an audio replay will be available for one week following the call and will be accessible by dialing +1 (855) 859-2056 within the United States or +1 (404) 537-3406 outside the United States. The audio replay ID is 11961964. INC Research (NASDAQ:INCR) is a leading global contract research organization ("CRO") providing the full range of Phase I to Phase IV clinical development services for the biopharmaceutical and medical device industries. Leveraging the breadth of our service offerings and the depth of our therapeutic expertise across multiple patient populations, INC Research connects customers, clinical research sites and patients to accelerate the delivery of new medicines to market. The Company was ranked “Top CRO to Work With” among the top 10 global CROs in the 2017 CenterWatch Global Investigative Site Relationship Survey. INC Research is headquartered in Raleigh, NC, with operations across six continents and experience spanning more than 110 countries. For more information, please visit www.incresearch.com and connect with us on LinkedIn and Twitter @inc_research. Except for historical information, all of the statements, expectations, and assumptions contained in this press release, including our updated 2017 guidance, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include, but are not limited to: our ability to maintain or generate new business awards; our backlog not being indicative of future revenues and our ability to realize the anticipated future revenue reflected in our backlog; our ability to adequately price our contracts and not overrun cost estimates; general and international economic, political and other risks, including currency and stock market fluctuations and the uncertain economic environment; fluctuations in our financial results; reliance on key personnel; our customer or therapeutic area concentration; our ability to increase our market share, grow our business and execute our growth strategies; and the other risk factors set forth in our Form 10-K for the year ended December 31, 2016 and other SEC filings, copies of which are available free of charge on our website at investor.incresearch.com. INC Research assumes no obligation and does not intend to update these forward-looking statements, except as required by law. Use of Non-GAAP Financial Measures In addition to the financial measures prepared in accordance with GAAP, this press release contains certain non-GAAP financial measures, including Adjusted Income from Operations, Adjusted Operating Margin, Adjusted Net Income (including Adjusted Diluted Earnings per Share), EBITDA and Adjusted EBITDA.  A “non-GAAP financial measure” is generally defined as a numerical measure of a company’s financial performance that excludes or includes amounts so as to be different than the most directly comparable measure calculated and presented in accordance with GAAP in the statements of operations, balance sheets or statements of cash flows of the Company. The Company defines Adjusted Income from Operations as income from operations excluding expenses and transactions that the Company believes are not representative of its core operations, namely, acquisition-related amortization; restructuring, CEO transition, and other costs; transaction expenses; share-based compensation expense; and contingent consideration related to acquisitions and other expense. The Company defines Adjusted Operating Margin as adjusted income from operations as a percentage of net service revenue. The Company defines Adjusted Net Income (including Adjusted Diluted Earnings per Share) as net income (including diluted earnings per share) excluding the items excluded from adjusted income from operations mentioned previously and other expense. After giving effect to these items and other unusual tax impacts during the period, the Company has also included an adjustment to its income tax rate to reflect the expected long-term income tax rate. EBITDA represents earnings before interest, taxes, depreciation and amortization. The Company defines Adjusted EBITDA as EBITDA, further adjusted to exclude certain expenses and transactions that the Company believes are not representative of its core operations, namely, restructuring, CEO transition, and other costs; transaction expenses; share-based compensation expense; contingent consideration related to acquisitions and other expense; and other expense. The Company presents EBITDA and Adjusted EBITDA because it believes they are useful metrics for investors as they are commonly used by investors, analysts and debt holders to measure the Company's ability to fund capital expenditures and meet working capital requirements. Each of the non-GAAP measures noted above are used by management and the Board to evaluate the Company's core operating results as they exclude certain items whose fluctuations from period-to-period do not necessarily correspond to changes in the core operations of the business. Adjusted Income from Operations, Adjusted Operating Margin and Adjusted Net Income (including Adjusted Diluted Earnings per Share) are used by management and the Board to assess the Company's business. Non-GAAP measures have limitations in that they do not reflect all of the amounts associated with the Company's results of operations as determined in accordance with GAAP. Also, other companies might calculate these measures differently. Investors are encouraged to review the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP measures included in this press release and the accompanying tables.


EWING, N.J.--(BUSINESS WIRE)--Universal Display Corporation (Nasdaq: OLED), enabling energy-efficient displays and lighting with its UniversalPHOLED® technology and materials, today announced that its wholly-owned subsidiary, Adesis Inc., purchased its New Castle, Delaware building, to expand its custom organic synthesis, research & development, and specialty manufacturing capabilities. The New Castle, DE facility is a 47,500-square-foot building in the Southgate Industrial Center, of which Adesis had previously leased about 25,100 square feet. “We are pleased to help scale up Adesis’ operations as it continues to grow its CRO (contract research organization) work in supporting the pharmaceutical, chemical, biomaterials, and catalysts industries,” said Steven V. Abramson, President and Chief Executive Officer of Universal Display Corporation. “The integration of Adesis has progressed extremely well and we believe the purchase of the building is the next step in facilitating the business' long-term growth plans. This will also support our increasing technical capabilities, as we expand our OLED product portfolio for new red, green, yellow and blue emitters and hosts.” “This is an exciting time of growth for Adesis,” said Andrew Cottone, President of Adesis, Inc. “We are fortunate to have the support of our parent company Universal Display Corporation, as we grow our business across all our end markets. The purchase of the building creates an opportunity to increase our critical mass and expand our CRO offerings, while continuing to enhance Universal Display’s chemistry expertise and capabilities.” As a wholly-owned subsidiary of Universal Display Corporation, Adesis, Inc. is a contract research organization (CRO) supporting the pharma, biotech, catalysis and a number of other industries. The CRO specializes in organic and organometallic synthesis, in milligrams to multi-kilogram quantities. Adesis has a business model of providing clients with organic chemistry services in three areas: early stage research, scale up and development, and specialty manufacturing. With over 20 years of success and currently over 50 chemists with extensive industry and professional experience, Adesis supports companies in various industries with small molecule organic chemistry expertise. Adesis provides a range of services that can supplement research and development efforts. It can also act as a specialty manufacturer to reinforce supply chains. To learn more about Adesis, please visit http://adesisinc.com/ Universal Display Corporation (Nasdaq: OLED) is a leader in developing and delivering state-of-the-art, organic light emitting diode (OLED) technologies, materials and services to the display and lighting industries. Founded in 1994, the Company currently owns or has exclusive, co-exclusive or sole license rights with respect to more than 4,200 issued and pending patents worldwide. Universal Display licenses its proprietary technologies, including its breakthrough high-efficiency UniversalPHOLED® phosphorescent OLED technology that can enable the development of low power and eco-friendly displays and solid-state lighting. The Company also develops and offers high-quality, state-of-the-art UniversalPHOLED materials that are recognized as key ingredients in the fabrication of OLEDs with peak performance. In addition, Universal Display delivers innovative and customized solutions to its clients and partners through technology transfer, collaborative technology development and on-site training. Headquartered in Ewing, New Jersey, with international offices in China, Hong Kong, Ireland, Japan, South Korea, and Taiwan, and wholly-owned subsidiary Adesis, Inc. based in New Castle, Delaware, Universal Display works and partners with a network of world-class organizations, including Princeton University, the University of Southern California, the University of Michigan, and PPG Industries, Inc. The Company has also established relationships with companies such as AU Optronics Corporation, BOE Technology, DuPont Displays, Inc., Innolux Corporation, Kaneka Corporation, Konica Minolta Technology Center, Inc., LG Display Co., Ltd., Lumiotec, Inc., OLEDWorks LLC, OSRAM, Pioneer Corporation, Samsung Display Co., Ltd., Sumitomo Chemical Company, Ltd., Tianma Micro-electronics and Tohoku Pioneer Corporation. To learn more about Universal Display Corporation, please visit http://www.oled.com. Universal Display Corporation and the Universal Display Corporation logo are trademarks or registered trademarks of Universal Display Corporation. All other company, brand or product names may be trademarks or registered trademarks. All statements in this document that are not historical, such as those relating to Universal Display Corporation’s technologies and potential applications of those technologies, Adesis, Inc.’s growth plans and potential CRO offerings, as well as the growth of the OLED market and the Company’s opportunities in that market, are forward-looking financial statements within the meaning of the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on any forward-looking statements in this document, as they reflect Universal Display Corporation’s current views with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated. These risks and uncertainties are discussed in greater detail in Universal Display Corporation’s periodic reports on Form 10-K and Form 10-Q filed with the Securities and Exchange Commission, including, in particular, the section entitled “Risk Factors” in Universal Display Corporation’s annual report on Form 10-K for the year ended December 31, 2016. Universal Display Corporation disclaims any obligation to update any forward-looking statement contained in this document.


LONDON, May 11, 2017 /PRNewswire/ -- Asia Pacific Single-use Bioprocessing System Market: Overview This report on single-use bioprocessing systems market studies the current as well as future prospects of the market in Asia Pacific. The stakeholders of this report include companies and intermediaries engaged in the manufacture and commercialization of various single-use bioprocessing systems instrument and products as well as new entrants planning to enter this market. Download the full report: https://www.reportbuyer.com/product/4895312/ This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments and sub-segments considered within the scope of the study. This section also provides the overall information and data analysis of the Asia Pacific single-use bioprocessing systems market with respect to the leading market segments based on major products, applications, end-users and geographies. The market overview section of the report explores the market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the Asia Pacific single-use bioprocessing systems market and could influence the market in the near future. Market attractiveness analysis has been provided in all the sections of the report in order to explain the intensity of competition in the market across different products/materials/technologies/end-users/geographies. Asia Pacific Single-use Bioprocessing System Market: Segmentation The Asia Pacific single-use bioprocessing systems market is divided into: by product, by technology, by application, by end-user and by geography. Product type segment of single-use bioprocessing system market was divided into bioreactors, mixers, bags, bioprocess containers, filtration devices, tubing, sampling systems, connectors & clamps, probes & sensors. On the basis of application the single-use bioprocessing systems market is classified as vaccine production, biosimilar Production, blood plasma products, cell therapy, and other biopharma products. On the basis of end-user the single-use bioprocessing systems market is classified as pharmaceutical, biotechnology, CRO & CMO, and academic & research institutes. Geographically, the single-use bioprocessing systems market has been segmented into six countries and two regions: China, Japan, Australia & New Zealand, India, South Korea, Taiwan, South East Asian countries and Rest of APAC. Each regional market for single-use bioprocessing systems market has been further categorized into major product, applications, material, and end-user segments considered within the scope of the study. Major country market revenues have also been provided in different regional sections within the report. Market revenue in terms of US$ Mn and volume in terms of units for the period from 2014 to 2025 along with CAGR % from 2016 to 2025 are provided for all the regions and nations considering 2016 as the base year. The market for these segments has been extensively analyzed based on their utility, effectiveness, sales, and geographic presence. Market revenue in terms of US$ Mn and market volume in terms of units for the period from 2016 to 2024 along with the compound annual growth rate (CAGR %) from 2016 to 2024 are provided for all segments, considering 2016 as the base year. Asia Pacific Single-use Bioprocessing System Market: Competitive Analysis The competitive scenario among different market players is evaluated through market share analysis in the competition landscape section of the report. The section also includes completion matrix that analyzes the competition among some of the top Asia Pacific players operating in the market. All these factors would help market players to take strategic decisions in order to strengthen their positions and expand their shares in the Asia Pacific market. The report profiles key manufacturers in the single-use bioprocessing systems market based on various attributes such as company details, SWOT analysis, strategic overview, financials, and business overview. Major players profiled in this report include Thermo Fisher Scientific, Merck KGaA (Merck Millipore), Danaher Corporation (Pall Corporation), Sartorius AG, Eppendorf AG, GE Healthcare, Finesse Solutions, Saint-Gobain, Parker Hannifin Corporation, Corning Incorporated, Colder Products Company, CESCO BIOENGINEERING CO., LTD., and Cole-Parmer Instrument Company, LLC. The Asia Pacific single-use bioprocessing systems market has been segmented as follows: By Product Bioreactors Mixers Bags Bioprocess Containers Filtration Devices Tubing Sampling Systems Connectors & Clamps Probes & Sensors By End User Pharmaceutical Biotechnology CRO & CMO Academic & Research Institutes By Application Vaccine Production Biosimilar Production Blood Plasma Products Cell Therapy Others (biopharma products) By Geography China Japan Australia & New Zealand India South Korea Taiwan South East Asian countries Download the full report: https://www.reportbuyer.com/product/4895312/ About Reportbuyer Reportbuyer is a leading industry intelligence solution that provides all market research reports from top publishers http://www.reportbuyer.com For more information: Sarah Smith Research Advisor at Reportbuyer.com Email: query@reportbuyer.com Tel: +44 208 816 85 48 Website: www.reportbuyer.com To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/single-use-bioprocessing-systems-market---asia-pacific-industry-analysis-size-share-growth-trends-and-forecast-2016---2024-300456385.html

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