InVentiv Health Forms Strategic Alliance With Bell Medical Solutions, One Of Japan's Top Clinical Research Organizations
BURLINGTON, Mass., April 11, 2013 /PRNewswire/ -- inVentiv Health, offering best-in-class clinical, commercial and consulting services to the healthcare industry, announced today a strategic alliance with Bell Medical Solutions, one of Japan's top clinical research organizations with more than 700 clinical research associates serving the growing Japanese market.
Bell, a preferred service provider to some of Japan's top pharmaceutical companies, offers CRO services that cover Phases I-IV, post-approval studies and patient access. Together, inVentiv and Bell will offer comprehensive global drug development services to Japanese and international clients conducting studies in Japan.
"This alliance provides Bell Medical Solutions with inVentiv's significant international reach and the ability to participate in larger, global studies," said inVentiv Health CEO Paul Meister. "For inVentiv, the alliance bolsters our already significant position in Japan to better support our clients who are capitalizing on exciting opportunities for growth."
Speaking recently to The Economist magazine, the Pharmaceutical Research and Manufacturers of America, the pharmaceutical industry trade group, said Japan may be one of the world's best markets right now for foreign drug companies. Sales growth in 2011 for the top eight multinational drug firms in Japan ranged from 12% to 31%. PhRMA called these "emerging market" growth rates. Firms now are sending some of their brightest researchers to Japan.Meanwhile, the Pharmaceutical and Medical Device Agency (PMDA), which oversees the approval process for Japan's Health Ministry, has slashed review times over the last five years and increased the number of new drug approvals to serve the needs of a burgeoning population of elderly. Headquartered in Tokyo, Bell has conducted hundreds of studies in various therapeutic areas since the company began offering CRO services in 1986. It is the only full-service CRO in Japan and is known for upholding the highest quality and regulatory standards. "Bell is not just a respected CRO, it is also embedded in the Japanese healthcare and drug approval system," said Ray Hill, President of inVentiv Health Clinical. "It is a crucial time for our clients operating in Japan and we can now provide all the support they need to succeed." 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 offers convergent services that deliver extraordinary outcomes to clients whose goal is improving human life. In 40 countries around the world, inVentiv's 13,000 employees help clients rapidly transform promising ideas into commercial reality. inVentiv clients include more than 550 pharmaceutical, biotech and life sciences companies, as well as companies that now see health as part of their mission. 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 http://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 our performance to differ materially. These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We wish to caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement. Such factors 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 customer project delays and cancellations and our ability to sufficiently increase our revenues and manage expenses and capital expenditures to permit us to fund our operations; the impact of the consummation of any future acquisitions; the impact of any change in our ratings and the ratings of our debt securities on our relationships with customers, vendors and other third parties; the impact of any additional leverage we may incur on our ratings and the ratings of our debt securities; our ability to continue to comply with the covenants and terms of our senior secured credit facilities and to access sufficient capital under our credit agreement or from other sources of debt or equity financing to fund our operations; the impact of any default by any of our credit providers; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability to 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 into our operation, and achieve the resulting synergies; the resolution of purchase price adjustment disputes in connection with our recent acquisitions and related impacts; 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 adapt to any changes in applicable laws on a timely and cost effective basis; our ability to recruit, motivate and retain qualified personnel, including sales representatives; the possibility that client agreements will be terminated or not renewed; any potential impairment of goodwill or intangible assets; 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; our ability to convert backlog into revenue; the potential liability associated with injury to clinical trial participants; the actual impact of the adoption of certain accounting standards; and our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Holders of our debt instruments are referred to reports provided to investors from time to time and the offering memoranda provided in connection with the issuance of our notes for further discussion of these risks and other factors.
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