• SKIP TO CONTENT
  • SKIP NAVIGATION
  • Patient Resources
    • COVID-19 Patient Resource Center
    • Clinical Trial Listings
    • What is Clinical Research?
    • Volunteering for a Clinical Trial
    • Understanding Informed Consent
    • Useful Resources
    • FDA Approved Drugs
  • Professional Resources
    • Research Center Profiles
    • Market Research
    • FDA Approved Drugs
    • Training Guides
    • Books
    • eLearning
    • Events
    • Newsletters
    • White Papers
    • SOPs
    • eCFR and Guidances
  • White Papers
  • Clinical Trial Listings
  • Advertise
  • COVID-19
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » INC Research files for initial public offering

INC Research files for initial public offering

October 7, 2014
CenterWatch Staff

INC Research Holdings, which has spent the past two decades acquiring 10 companies, has announced plans for an initial public offering expected to raise $150 million.

Based in Raleigh, N.C., the CRO is focused on phase I to phase IV clinical development services for the biopharmaceutical and medical device industries. With approximately 5,400 employees in 50 counties across six continents, INC Research’s therapeutic expertise includes central nervous system, oncology and other complex diseases.

The IPO announcement, made after the stock market closed Monday, comes nearly one month  after large CRO PRA Health Sciences (formerly PRA International) filed for its IPO with the Securities and Exchange Commission  with plans to raise $375 million.

“We’re in a strong market for IPOs and particularly strong for CROs,” said Michael Martorelli, a director at Fairmount Partners. “It’s a nice convergence to have both.”

The $150 million target for INC Research’s public offering is based on a registration fee and is expected to differ from the eventual offering, as the company has not yet revealed how many shares it plans to sell or the target price range per share.

Currently, INC Research is owned by private equity group Avista Capital Partners and affiliates of the Ontario Teachers’ Pension Plan, the largest single professional pension plan in Canada. They reportedly spent $600 million to acquire INC Research four years ago from Crosspoint Venture Partners and Adams Street Partners.

“What’s good about seeing PRA and now INC Research planning to become publicly traded companies is that these big firms provide more transparency for the industry,” said Martorelli. “They will be able to use stock for acquisitions instead of cash and join other publicly held CROs, like Quintiles, which went public last year.”

In its SEC filing, INC Research reported $652.4 million in revenue last year, but has lost money over the last several years including $41.5 million in 2013. For the first half of this year, the company posted net income of $13.5 million and a 26% jump in revenues to $388 million.

The company also stated its broad global reach has enabled it to provide clinical development services in over 100 countries.

“Our global footprint provides our customers with broad access to diverse markets and patient populations, local registry expertise and local market knowledge,” INC Research stated in its SEC filing. “We have developed our capabilities and infrastructure in parallel with our extensive industry-leading relationships with principal investigators and clinical research sites, as demonstrated by our ranking as the ‘Top CRO’[to Work With]  in the 2013 CenterWatch Global Investigative Site Relationship Survey, which was conducted by CenterWatch, a third-party leading publisher in the clinical trials industry.”

Should the IPO be successful, INC Research would trade on the Nasdaq under the symbol INCR.

Upcoming Events

  • 25Apr

    Effective Root Cause Analysis and CAPA Investigations for Drugs, Devices and Clinical Trials

  • 26Apr

    FDA’s New Laws and Regulations: What Drug and Biologics Manufacturers Need to Know

  • 27Apr

    Califf’s FDA, 2023 and Beyond: Key Developments, Insights and Analysis

  • 17May

    2023 WCG Avoca Quality Consortium Summit

  • 21May

    WCG MAGI Clinical Research Conference – 2023 East

Featured Products

  • Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

    Spreadsheet Validation: Tools and Techniques to Make Data in Excel Compliant

  • Surviving an FDA GCP Inspection

    Surviving an FDA GCP Inspection: Resources for Investigators, Sponsors, CROs and IRBs

Featured Stories

  • tablet

    Digital Intake Platforms Effective as Source of Trial Information, Survey Shows

  • Diversity-360x240.png

    Site Spotlight: EmVenio Research Takes to the Road to Promote Trial Diversity

  • Five Ws

    Consider the Five ‘W’s to Understand Potential Participants

  • QandA-360x240.png

    Perspectives from Smaller-Sized CROs: Q&A with Cheryle Evans

Standard Operating Procedures for Risk-Based Monitoring of Clinical Trials

The information you need to adapt your monitoring plan to changing times.

Learn More Here
  • About Us
  • Contact Us
  • Privacy Policy
  • Do Not Sell or Share My Data

Footer Logo

300 N. Washington St., Suite 200, Falls Church, VA 22046, USA

Phone 617.948.5100 – Toll free 866.219.3440

Copyright © 2023. All Rights Reserved. Design, CMS, Hosting & Web Development :: ePublishing