Princeton, NJ – June 25, 2012 – PharmaNet/i3, inVentiv Health’s clinical segment, and a leading provider of clinical development services to pharmaceutical, biotechnology, generic drug and medical device companies, announced today the launch of PharmaNet/i3 Strategic Resourcing, a new unified provider of staffing and functional service provider (FSP) services. Bringing the capabilities of Kforce Clinical Research, i3 Pharma Resourcing, MedFocus, Smith Hanley Consulting Group and PharmaNet Resource Solutions into one organization, PharmaNet/i3 Strategic Resourcing connects the right resources across the clinical development spectrum to deliver tailored solutions to sponsors.
Drawing upon more than 40 years of combined experience in FSP and staffing and the expertise of more than 3,000 employees and over 200,000 professional candidates, PharmaNet/i3 Strategic Resourcing is uniquely qualified to help its clients address the growing pressures to enhance innovation, expedite pipelines and improve efficiencies, while lowering costs.
“With services that range from staffing individual positions to strategic FSP partnerships, PharmaNet/i3 Strategic Resourcing allows sponsors to outsource effectively and maintain the level of control they are most comfortable with,” said Gregg Dearhammer, President, PharmaNet/i3 Strategic Resourcing. “Clients choose what they need when they need it, and get the experience and expertise necessary for successful development programs.”
The FSP business unit of PharmaNet/i3 Strategic Resourcing will be under the leadership of Brian Thornton, Senior Vice President, Strategic Resourcing, who has over 20 years of experience in clinical research. The staffing business unit will be led by Kathy Hardy, President, Staffing, who has more than 13 years of experience managing global staffing resources.
“At the end of the day, clients are looking for new models to address evolving market dynamics and explore ways to improve quality, increase efficiency and manage costs,” Mr. Dearhammer explained. “The new PharmaNet/i3 Strategic Resourcing offers more than forty years of combined experience with the ability to connect the right global resources and deliver tailored development solutions.”
Additional information about PharmaNet/i3 Strategic Resourcing will be shared at the PharmaNet/i3 booth at the Drug Information Association (DIA) conference this week in Philadelphia. Further details can also be found at www.pharmanet-i3sr.com.
PharmaNet/i3, the inVentiv Health Clinical segment, is recognized as a leading provider of global drug development services to pharmaceutical, biotechnology, generic drug, and medical device companies, offering therapeutically specialized capabilities for Phase I-IV clinical development, bioanalytical services, and staffing from a single clinical professional to an entire functional team. For intelligent solutions needed to accelerate high quality drug development programs of all sizes around the world, PharmaNet/i3 works for you. For more information, visit www.pharmanet-i3.com.
About inVentiv Health
inVentiv Health, Inc. is a leading global provider of best-in-class clinical, commercial and consulting services to companies seeking to accelerate performance. inVentiv’s client roster includes more than 550 pharmaceutical, biotech and life sciences companies. With 13,000 employees in 40 countries, inVentiv rapidly transforms promising ideas into commercial reality. inVentiv Health Inc. is privately owned by inVentiv Group Holdings Inc., an organization sponsored by affiliates of Thomas H. Lee Partners, L.P., Liberty Lane Partners and members of the inVentiv management team. For more information, visit www.inventivhealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause inVentiv Health's performance to differ materially. Such risks include, without limitation: the impact of our substantial level of indebtedness on our ability to generate sufficient cash to fulfill our obligations under our existing debt instruments or our ability to incur additional indebtedness; the impact of the consummation of any announced acquisitions, and any additional leverage we may incur in connection with the financing thereof, on the ratings of our debt securities; our ability to sufficiently increase our revenues and maintain or decrease expenses and cash capital expenditures to permit us to fund our operations; our ability to continue to comply with the covenants and terms of our credit facility and to access sufficient capital to fund our operations; the impact of any default by any of our credit providers or swap counterparties; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability accurately forecast insurance claims within our self-insured programs; the potential impact of pricing pressures on pharmaceutical manufacturers from future healthcare reform initiatives or from changes in the reimbursement policies of third-party payers; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; the potential impact of financial, economic, political and other risks, including interest rate and exchange rate risks, related to conducting business internationally; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses, including the acquisitions of i3 Global and PharmaNet Development Group, Inc., into our operations; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our client base; our ability to comply with all applicable laws as well as our ability to successfully implement from a timing and cost perspective any changes in applicable laws; our ability to recruit, motivate and retain qualified personnel, including sales representatives; the possibility that client agreements will be terminated or not renewed; consolidation in the pharmaceutical industry; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing, including initiatives by our clients to perform services we offer internally; the potential liability associated with bringing new drugs to market, including potential liability from injury to clinical trial participants; and the actual impact of the adoption of certain accounting standards; our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Readers of this press release are referred to documents which may be filed from time to time by inVentiv Health Inc. with the Securities and Exchange Commission for further discussion of these and other factors.
Contact: Anne-Marie Hess, Vice President, Marketing & Communications
Phone: +1 609 951 6842
# # #