Constant currency revenue growth is defined as revenues for a given period restated at the comparative period's foreign currency exchange rates measured against the comparative period's adjusted revenues. The Company defines adjusted revenue and segment adjusted revenue as GAAP revenue and segment revenue, respectively, adjusted to include revenue eliminated as a result of purchase accounting. We bring together approximately 28,000 clinical and commercial minds with the ability to support customers in more than 110 countries. MORRISVILLE, N.C. - December 18, 2020 - Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today announced the acquisition of Illingworth Research Group, a leading provider of clinical research home health services. The increases in GAAP net income and diluted earnings per share were primarily due to higher income from operations, lower interest expense, and a decrease in other expenses primarily due to lower expense from foreign exchange rate fluctuations, partially offset by a higher income tax expense. Amounts are estimates with an estimated range of +/- 5% and are presented gross without the benefit of associated income tax deduction. Biostatistics and Statistical Programming, Clinical Development Services Project Management, Scientific and Medical Affairs Advisory Group, Risk and Program Management Advisory Group, Senior Vice President, Investor Relations, Direct costs (exclusive of depreciation and amortization), Selling, general, and administrative expenses, Transaction and integration-related expenses. . Honorable award recognition, including the Forbes 2020 list of Worlds Best Employers, ranked highest among biopharma outsourcing organizations. Changes in operating assets and liabilities, net of effect of business combinations: Accounts receivable, unbilled services, and deferred revenue, Net cash provided by operating activities, Payments associated with business combinations, net of cash acquired, Proceeds from issuance of long-term debt, net of discount, Proceeds from accounts receivable financing agreement, Repayments of accounts receivable financing agreement, Redemption of Senior Notes and associated breakage fees, Payments of contingent consideration related to business combinations, Payments related to tax withholdings for share-based compensation, Net cash provided by (used in) financing activities, Net change in cash, cash equivalents, and restricted cash, Acquisition-related deferred revenue adjustment (a), Transaction and integration-related expenses (d), Loss (gain) on extinguishment of debt (g), Income tax adjustment to normalized rate (h), Impact of base erosion and anti-abuse tax (i), GAAP net income and diluted earnings per share, Income tax effect of above adjustments (b), Adjusted net income and adjusted diluted earnings, Clinical Solutions segment net new business awards of, Commercial Solutions segment net new business awards of. and Prepares key reports such as annual cost and expense budgets, cost rates, cost and expense . Third Report Highlights Substantial Progress Toward Achieving Companys Environmental, Social and Governance Goals, Including DE&I Objectives. Represents the net income tax expense recorded as a result of the base erosion and anti-abuse tax. Syneos Health is a community of 28,000 people who feel compelled to act with a profound sense of commitment and responsibility when engaging with colleagues, customers, patients and global communities, said Alistair Macdonald, CEO, Syneos Health. The Company, including a Contract Research Organization (CRO) and Contract Commercial Organization (CCO), is purpose-built to accelerate customer performance to address modern market realities. Report Spotlights Significant Progress Toward Achieving Company's Environmental, Social and Governance Goals, Including Climate Pledge and DE&I ObjectivesMORRISVILLE, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released its 2021 Sustainability Report. Because to us, a patient isn't just a number, they're our family, friends, and neighbors. Net new business awards were $1,764.1 million and $5,863.1 million for the three and twelve months ended December 31, 2020, representing book-to-bill ratios of 1.55x and 1.33x, respectively. Selling, general and administrative expenses were as follows . Report Spotlights Significant Progress Toward Achieving Companys Environmental, Social and Governance Goals, Including Climate Pledge and DE&I Objectives. Steps to advance Diversity, Equity & Inclusion: Mr. Macdonald joined nearly 2,000 business leaders signing the CEO Action for Diversity & Inclusion pledge. Annual Reports Annual Reports. The MarketWatch News Department was not involved in the creation of this content. We bring together more than 29,000 minds, across more than 110 countries, with a deep understanding of patient and physician behaviors and market dynamics. MORRISVILLE, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) -- Syneos Health(R) (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released its 2021 Sustainability Report. Address. The Report spotlights how the Company and its more than 29,000 employees have acted on their shared purpose to lead with a product development mindset and expand the Companys Environmental, Social and Governance (ESG) impact. On a constant currency basis, revenue decreased 7.0% compared to the adjusted revenue from the same period in the prior year. Each of the non-GAAP measures noted above are used by management and the Board to evaluate the Company's core operating results because they exclude certain items whose fluctuations from period-to-period do not necessarily correspond to changes in the core operations of the business. Further, it spotlights the Companys dedication to reducing its impact on the environment and supporting the shift to a low-carbon economy. Their Company, including a Contract Research Organization (CRO) and Contract Commercial Organization (CCO), is purpose-built to accelerate customer performance to address modern market realities. Actual results might differ materially from those explicit or implicit in the forward-looking statements. and Prepares key reports such as annual cost and expense budgets, cost rates, cost and expense . A portion of these cost reductions were due to temporary cost savings measures implemented in response to the uncertainty caused by the COVID-19 pandemic. Syneos Health Releases Annual Sustainability Report By: Syneos Health, Inc. via Globe NewsWire October 05, 2022 at 07:00 AM EDT MORRISVILLE, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released its 2021 Sustainability Report. This decrease in adjusted EBITDA was driven primarily by the impacts of COVID-19, partially offset by the impact of the Companys synergies and cost management strategies, including ForwardBound. UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) . Syneos Health, Inc. Morrisville, North Carolina, UNITED STATES. Their Company brings together approximately 24,000 clinical and commercial minds with the ability. Represents non-cash adjustments resulting from the revaluation of deferred revenue and the subsequent elimination of revenue in purchase accounting in connection with business combinations. Because to us, a patient isn't just a number, they're our family, friends, and neighbors. Clinical Solutions net new business awards were $1,299.3 million and $4,698.7 million for the three and twelve months ended December 31, 2020, representing a book-to-bill ratio of 1.52x and1.42x, respectively. The full 2021 Sustainability Report can be found on the Companys website. Hands on Art Director on a variety of digital tactics, targeting HCP and Consumer audiences. 1030 Sync Street Suite 700 Morrisville, NC 27560, US Get directions 200 Vesey St 40th Floor New York, NY 10281, US Get directions Employees at Syneos Health Communications Duncan Arbour Digital. Note: Revenues for privately held companies are statistical evaluations. These increases were partially offset by unfavorable impacts from adoption of ASC 606 which delayed the recognition of revenue by $58.2 million compared to revenue that would have been recognized under ASC 605 and reductions in revenue of $13.5 million, due to the fair value adjustments required by purchase accounting. Other expense (income) is comprised primarily of foreign currency exchange gains and losses. MORRISVILLE, N.C. - December 6, 2021 - Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, has released its 2020 Sustainability Report. Syneos Health's Annual Report & Profile shows critical . On a constant currency basis, revenue decreased 9.9%. During the three months ended December 31, 2020, the Company made $13.5 million and $200.0 million of voluntary prepayments against its Term Loan A and Term Loan B, respectively that were applied to future mandatory principal payment due. The 2021 Report reflects the Company's ongoing commitment to embed Diversity, Equity and Inclusion (DE&I) in all core business practices from clinical trials to product launch strategies to be more representative of patient populations. To learn more about how we are Shortening the distance from lab to life, visit syneoshealth.com or subscribe to our podcast. Constant currency segment revenue growth is defined as revenue for a given period restated at the comparative periods foreign currency exchange rates measured against the comparative periods adjusted or GAAP revenues, as applicable. The Company is not required to make a mandatory payment against the principal balance of Term Loan A until April 2022 and Term Loan B until maturity in August 2024. As Powerball jackpot hits a near-record $1.5 billion, this Connecticut man warns that playing the lottery can become an addiction, Steve Case says, 'in five years, there won't even be a tech sector'. The live webcast will be available in listen-only mode in the Events section of the Company's Investor Relations website at investor.syneoshealth.com. Is there a problem with this press release? About Syneos HealthSyneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization purpose-built to accelerate customer success. Was this review helpful? Together we share insights, use the latest technologies and apply advanced business practices to speed our customers delivery of important therapies to patients. Work for Syneos Health, Inc.? Publicacin de Syneos Health Syneos Health 375.849 seguidores 17 h Denunciar esta publicacin We believe that weand all companieshave a responsibility to reduce our impact on the planet by aligning our goals and strategies with science and globally recognized best practices. The Syneos Health Patient Voice Consortium ensures the patient voice is amplified and central to all of the Companys efforts. ET on February 18, 2021, to discuss its fourth quarter and full year 2020 financial results. Biostatistics and Statistical Programming, Clinical Development Services Project Management, Scientific and Medical Affairs Advisory Group, Risk and Program Management Advisory Group, Standard Contractual Clauses for Suppliers. Financial - Expense Highlight. This decrease was driven by revenue declines in both Clinical Solutions and Commercial Solutions, as discussed below. +1 908 763 3428 For the twelve months ended December 31, 2020, GAAP revenue decreased 5.6% to $4,415.8 million and decreased 5.7% compared to the adjusted revenue from the same period in the prior year. Today, we're uncovering the inner workings of Syneos Health to uncover key insights related to Syneos Health careers, culture, salary, interviews, and more. . As a part of the Syneos Health team, you'll help us deliver results for a rewarding reason - we improve patients' lives around the world. We bring together more than 29,000 minds, across more than 110 countries, with a deep understanding of patient and physician behaviors and market dynamics. The company's average rating score is 2.45, and is based on 5 buy ratings, 6 hold ratings, and no sell ratings. . ET on February 18, 2021, to discuss its fourth quarter and full year 2020 financial results. View 2021 Sustainability Report This company has a Sustainability Report available to view on our partner site, ResponsibilityReports.com Older/Archived Annual Reports 2020 Annual Report View Annual Report Download Participation in McKinsey and Companys Black Leadership Academy. Q3 2022 Syneos Health Inc. Earnings Conference Call. Earnings per share attributable to common shareholders: Weighted average common shares outstanding: Cash, cash equivalents, and restricted cash, Accounts receivable and unbilled services, net, Prepaid expenses and other current assets, Current portion of operating lease obligations, Current portion of finance lease obligations, Accumulated other comprehensive loss, net of taxes, Total liabilities and shareholders' equity. For the three months ended December 31, 2020, Clinical Solutions GAAP revenue decreased 4.9% to $855.6 million, and decreased 5.0% compared to the adjusted revenue from the same period in the prior year. The Company defines adjusted net income (including adjusted diluted earnings per share) as net income (including diluted earnings per share) excluding acquisition-related deferred revenue adjustments; acquisition-related amortization; restructuring and other costs; transaction and integration-related expenses; share-based compensation expense; gain or loss on extinguishment of debt; other income (expense), net; the income tax effect of the above adjustments; and the impact of the base erosion and anti-abuse tax. This decrease was driven by revenue declines in both Clinical Solutions and Commercial Solutions, as discussed below. The Gordon Growth formula is used to calculate Terminal Value at a future annual growth . The guidance is based upon the Company's estimated number of weighted average diluted shares outstanding, and does not take into account any share repurchases beyond the fourth quarter of 2020. MORRISVILLE, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released its 2021 Sustainability Report. This decrease was primarily due to the impacts of COVID-19, including the related decline in reimbursable out-of-pocket expenses, and the second quarter divestiture of the Companys contingent staffing business, partially offset by the positive impacts from the Synteract acquisition and fluctuations in foreign currency exchange rates. Syneos Health pays an average of $5,006 in annual employee bonuses. How much does Syneos Health pay in bonuses? Established a Diversity, Equity & Inclusion Council, with Executive oversight. "As a company purpose-built to challenge the old ways of biopharmaceutical development, the initiatives outlined in our 2021 Sustainability Report are the foundation of who we are as a company - from increasing diversity in clinical trials to continuing to build an inclusive culture," added Keefe. All Rights Reserved. Investors are encouraged to review the reconciliations of the non-GAAP financial measures to their most directly comparable GAAP measures included in this press release and the accompanying tables. Syneos Health (Nasdaq:SYNH) is the only fully integrated biopharmaceutical solutions organization. Adjusted net income (including adjusted diluted earnings per share) and adjusted EBITDA are used by management and the Board to assess the performance of the Company's business. Syneos Health (formerly InVentiv Health Incorporated and INC Research) is a NASDAQ listed American multinational contract research organization based in Morrisville, North Carolina. Represents non-cash share-based compensation expense related to awards granted under equity incentive plans. Syneos Health will host a conference call at 8:00 a.m. Get the latest business insights from Dun & Bradstreet. Raleigh, NC 27604. incresearch.com. Launching the Patient Voice Consortium to embed behavioral insights and diverse patient perspectives across the product development lifecycle to help close the long-standing communications gap between patients and those who innovate on their behalf. Earnings Summary. Represents the income tax effect of the non-GAAP adjustments made to arrive at adjusted net income using an estimated effective tax rate of approximately 24.0% for the three and twelve months ended. What recourse do I have? MORRISVILLE, N.C., Oct. 05, 2022 (GLOBE NEWSWIRE) -- Syneos Health (Nasdaq:SYNH), the only fully integrated biopharmaceutical solutions organization, today released its 2021 Sustainability Report. . ET on February 18, 2021. Syneos Health Releases Annual Sustainability Report Report Spotlights Significant Progress Toward Achieving Company's Environmental, Social and Governance Goals, Including Climate Pledge. Syneos Health is a biopharmaceutical solutions management consulting firm making waves in the healthcare and life sciences consulting space. Syneos Health (formerly InVentiv Health Incorporated and INC Research) is a NASDAQ listed American multinational contract research organization based in Morrisville, North Carolina.The company specializes in helping companies with late-stage clinical trials. Other focus areas include developing and retaining top talent through a Total Self culture where employees are encouraged to be their authentic selves, minimizing environmental impact and maintaining strong governance processes. MORRISVILLE, N.C., Oct 05, 2022 (GLOBE NEWSWIRE via COMTEX) -- The Company, including a Contract Research Organization (CRO) and Contract Commercial Organization (CCO), is purpose-built to accelerate customer performance to address modern market realities. Gary Gatyas Senior Vice President, Investor Relations Syneos Health Discloses SEC Investigation, Delays Filing Annual Report Stock tumbled 27% in after-hours trading after investigation announced The U.S. Securities and Exchange Commission is. The severity and duration of the COVID-19 pandemic are outside of the Companys control and, given the uncertain nature of the pandemic, could cause the Companys future operating results to be different from our current expectations, particularly if the impact of the pandemic worsens. Syneos Health, Inc. has reached its limit for free report views. (C) Copyright 2022 GlobeNewswire, Inc. All rights reserved. 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