Soon to be quoted... Quintiles.
The company gets no cash from this IPO, so it is the current holders getting some cash out.
sec.gov
A few excerpts...
We are the world’s largest provider of biopharmaceutical development services and commercial outsourcing services. We are positioned at the intersection of business services and healthcare and generated $3.7 billion of service revenues in 2012, conduct business in approximately 100 countries and have more than 27,000 employees. We use the breadth and depth of our service offerings, our global footprint and our therapeutic, scientific and analytics expertise to help our biopharmaceutical customers, as well as other healthcare customers, navigate the increasingly complex healthcare environment to improve efficiency and to deliver better healthcare outcomes.
Since our founding over 30 years ago, we have grown to become a leader in the development and commercialization of new pharmaceutical therapies. Our Product Development segment is the world’s largest contract research organization, or CRO, as ranked by 2011 reported service revenues, and is focused primarily on Phase II-IV clinical trials and associated laboratory and analytical activities. Our Integrated Healthcare Services segment includes one of the leading global commercial pharmaceutical sales and service organizations. Integrated Healthcare Services provides a broad array of services, including commercial services, such as providing contract pharmaceutical sales forces in key geographic markets, as well as a growing number of healthcare business services for the broader healthcare sector, such as outcome-based and payer and provider services. Product Development contributed approximately 74% and Integrated Healthcare Services contributed approximately 26% to our 2012 service revenues. Additional information regarding our segments is presented in Note 23 to our audited consolidated financial statements included elsewhere in this prospectus.
Our global scale and capabilities enable us to work with the leading companies in the biopharmaceutical sector that perform trials and market their products all around the world. During each of the last 10 years, we have worked with the 20 largest biopharmaceutical companies ranked by 2011 reported revenues. We have provided services in connection with the development or commercialization of the top 50 best-selling biopharmaceutical products and the top 20 best-selling biologic products, as measured by 2011 reported sales. Of the new molecular entities, or NMEs, and new biologic applications, or BLAs, approved from 2004 through 2011, we helped develop or commercialize 85% of the central nervous system drugs, 76% of the oncology drugs and 72% of the cardiovascular drugs.
We have extensive scientific and therapeutic expertise, including more than 800 employees globally who are medical doctors with experience across a number of fields. We also have substantial statistical, quantitative, analytical and applied technology skills, with more than 850 employees possessing a Ph.D. or equivalent. Our experts enable us to add sophisticated statistical, process development and advanced technology applications into our clinical development services to meet the needs of the broader healthcare industry for appropriate endpoints, adaptive trials, drug therapy analysis, outcome and real-world research and evidence-based medicine. Our scientific and medical expertise allows us to conduct biomarker discovery, perform gene sequencing and expression analysis, create assays that can be duplicated on a global scale and support the evolving fields of translational science and personalized medicine. Moreover, our flexible business solutions and commitment to our customers’ objectives enable us to provide our customers with customized operational delivery models to meet their particular needs.
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In 2012, our service revenues were $3.7 billion, our net income was $177.5 million, our non-GAAP adjusted net income was $208.9 million, and our non-GAAP adjusted EBITDA was $543.7 million. In addition, our 2012 net new business was $4.5 billion, and we ended the year with $8.7 billion in backlog. From 2008 to 2012, our non-GAAP adjusted service revenues grew at a 7.3% compound annual growth rate, or CAGR, and our non-GAAP adjusted EBITDA grew at a 13.9% CAGR. During this period, our service revenues experienced year-over-year increases each year and our annual book-to-bill ratio was between 1.19x and 1.27x. During the last five years, we have had at least eight customers in each year from whom we earned more than $100 million in service revenues. No single customer represents more than 10% of our 2012 revenues. For additional information regarding these financial measures, including a reconciliation of our non-GAAP measures to the most directly comparable measure presented in accordance with United States generally accepted accounting principles, or GAAP, see “Selected and Pro Forma Consolidated Financial Data” included elsewhere in this prospectus. |
