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Syneos Health was formed from the merger and acquisition of several companies including InVentiv Health and INC Research.
Through InVentiv Health, part of the company's history can be traced back to Snyder Communications, a company founded by Daniel M. Snyder in the 1980s. Snyder Communications had an initial public offering and began trading in the New York Stock Exchange in 1996.
The company formed a healthcare services division, Snyder Healthcare, in 1997 and acquired a number of healthcare related companies that operated or were based in the UK, France, Germany, Ireland, Holland, and Hungary. As of the end of 1998, the company generated more than $320 million in sales per year and employed about 2,800 people in the United States and more than 4,500 in Europe.
In September 1999, Snyder Healthcare was spun off into an independent company called Ventiv Health Inc., with shareholders receiving one share of Ventiv Health Inc. for every two shares of Snyder Communications. Eran Broshy was appointed to serve as chief executive officer and the company began trading on Nasdaq.
In 2005, the company paid $185 million to acquire InChord Communications, a healthcare marketing agency based in Westerville, Ohio. The company subsequently changed its name to InVentiv Health. In 2006, it became listed on the S&P 600 and also acquired for $60 million Adheris Inc. which provides programs for patient persistence and compliance with their prescribed treatment.
In 2010, the company, which at the time was traded on NASDAQ as VTIV, went private with the acquisition by Thomas H. Lee Partners in a deal estimated at $1.1 billion. In January 2018, eight months after INC Research announced plans to acquire it, the firm assumed a new name, Syneos Health, and stock symbol, Nasdaq: SYNH.
In February 2019, the company announced the SEC had begun an investigation of the company's accounting policies. Syneos Health's 2018 fourth-quarter and year-end reports were delayed. The COVID-19 pandemic lead to increased business for the company because of the "push to develop COVID-19 vaccines and medicines in 2020 and 2021".
In April 2022, Michelle Keefe, who previously worked for two decades at the pharmaceutical Pfizer, was appointed CEO of Syneos Health to succeed Alistair Macdonald who had led the company since 2017. In March 2023, the company signed a multi-year deal to collaborate with Microsoft Research in development of a platform to leverage machine learning for the optimization of clinical trials.
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On May 10, 2023, an investment consortium comprising Elliott Investment Management, Patient Square Capital and Veritas Capital, agreed to take Syneos private in a deal worth $4.46 billion, or $7.1 billion including debt. This was completed on September 30, 2023. A few days later, Syneos named Colin Shannon CEO of the company.
On October 9, 2024, Costa Panagos was appointed CEO, replacing Colin Shannon who held the position for the prior eighteen months.
From Wikipedia’s article on Syneos Health, shared under CC BY-SA 4.0.5