Law360, New York (August 1, 2016, 9:42 PM EDT) -- Advent International has agreed to make a sizable investment in inVentiv Health that values the biopharmaceutical services provider at around $3.8 billion, the private equity firm said Monday, a deal that means inVentiv will forgo its previously planned initial public offering.
Advent’s previously rumored investment makes it and Thomas H.
Lee Partners equal equity owners of inVentiv Health, a subsidiary of inVentiv Group Holdings Inc., according to a statement.
The exact size of the stake acquired by Advent wasn't explicitly disclosed, although a report from Bloomberg said it was 50 percent.
InVentiv Health aims to help the biopharmaceutical industry bring its...
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