Syneos Health Acquires Kinapse; Reaffirms FY18 EPS Guidance In Line With Street

Syneos Health (SYNH), a biopharmaceutical solutions organization, said Monday that it has acquired Kinapse, an advisory and operational solutions provider to the global life sciences industry, from Hg, a specialist investor based in the U.K.

Kinapse delivers services across the clinical and commercial lifecycle. It works with small to mid and large biopharmaceutical companies and has more than 600 employees across the U.K., India and the U.S.

Syneos Health said that the aquisition will further enhance the company’s ability to provide customers with end-to-end solutions to accelerate time to market. The acquisition also increases Syneos Health’ s Asia Pacific operational and delivery capabilities and doubles its consulting footprint in Europe. Kinapse operations will be integrated into Syneos Health’s consulting business, a business which drives connections between Syneos Health’s core clinical and commercial offerings to optimize product launch and commercialization results.

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Syneos Health is funding the transaction through cash on hand. Financial terms of the transaction were not disclosed. The company expects the transaction to be accretive to its earnings and remains committed to achieving a net leverage ratio of approximately three times by the end of 2019.

The company also reaffirmed its FY18 EPS guidance provided on Aug. 2, continuing to see adjusted diluted EPS of $2.55 to $2.83, straddling the Capital IQ consensus estimate of $2.71.

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