Brussels, 16 August 2023
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of Syneos Health, Inc. by Veritas Capital Fund Management, L.L.C (‘Veritas’), Elliott Investment Management L.P. (‘EIM’) and Patient Square Capital L.P. (‘Patient Square’), all of the US.
Syneos Health is a global contract research and outsourced commercialization organization providing services to pharmaceutical and biotechnology firms. Veritas is a private equity fund investing in companies that provide critical products, software and services to government as well as to commercial customers worldwide. EIM is an investment manager company. Patient Square is a dedicated health care investment firm.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the absence of horizontal overlaps and limited vertical links between the companies’ activities in the European Economic Area. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission’s competition website, in the public case register under the case number M.11170.
Source – EU Commission