INC Research is a contract research organization, or CRO, and is exclusively focused on Phase 1 to Phase 4 clinical development services for the biopharmaceutical and medical device industries. The company provides therapeutic alignment and expertise, with a particular strength in central nervous system, oncology and other complex diseases.
Over the past decade, the company systematically built its scale and capabilities to become a leading global provider of Phase 1 to Phase 4 clinical development services, with approximately 5,400 employees in 50 countries across six continents as of the end of June 2014.
The broad global reach has enabled INC Research to provide clinical development services in more than 100 countries. The global footprint provides customers with broad access to diverse markets and patient populations, local regulatory expertise and local market knowledge.
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INC Research received a ranking as the “Top CRO” in the 2013 CenterWatch Global Investigative Site Relationship Survey, which was conducted by CenterWatch, a third-party leading publisher in the clinical trials industry.
For the six months ending in June, the company had total net service revenue of $388.2 million, with a net income of $13.8 million, versus the year ending in December 2013, which posted a net service revenue of $652.4 million with a net loss of $41.5 million. Net loss decreased by 29.7% for the year ending in December 2013 from the previous year. At the end of June 2014, INC Research had outstanding term loans under the $375 million credit agreement.
The company intends to use the proceeds to redeem all outstanding notes and pay any redemption premiums, make-whole interest and related fees and expenses. It intends to refinance its senior secured credit facilities and incur additional term loans.
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