INC Research Holdings Inc (INCR)

History and Background

INC Research Holdings Inc. was a global contract research organization (CRO) founded in 1985. It provided clinical development services to the pharmaceutical, biotechnology, and medical device industries. In 2017, INC Research merged with inVentiv Health to form Syneos Health (SYNH).

Core Business Areas

• Clinical Development: Comprehensive clinical trial services, including trial design, site selection, patient recruitment, data management, and regulatory submissions.
• Medical Affairs: Services related to post-marketing studies, medical information, and medical communications.

Leadership and Structure

Before the merger, INC Research was led by a CEO and executive team. The organizational structure was typical of a CRO, with functional departments such as clinical operations, medical affairs, and data management.

Key Offerings

• Phase I-IV Clinical Trials: Management and execution of clinical trials across all phases of drug development. Competitors included Quintiles (now IQVIA), Covance (now Labcorp), and PPD (now Thermo Fisher Scientific).
• Central Laboratory Services: Laboratory testing and analysis services for clinical trials. Competitors included Labcorp and Quest Diagnostics.

Industry Overview

The CRO industry is characterized by increasing outsourcing from pharmaceutical and biotechnology companies seeking to reduce costs and accelerate drug development. The market is competitive with large, global players and smaller, niche providers.

Positioning

INC Research aimed to be a leading CRO, known for its therapeutic expertise and customer service. Its competitive advantage was its focus on certain therapeutic areas and its ability to provide customized solutions.

Total Addressable Market (TAM)

The global CRO market is valued in the hundreds of billions of dollars. INC Research was positioned to capture a portion of this TAM through its clinical development services.

Key Competitors

• IQV
• LH
• TMO

Competitive Landscape

INC Research was a mid-sized CRO competing with larger and smaller players. Its competitive advantage was its therapeutic expertise and customer service.

Acurian

• Year: 2014
• Acquisition Price (USD millions): 365
• Strategic Rationale: Expanded patient recruitment capabilities and geographic reach.

Historical Growth: INC Research experienced growth through organic expansion and acquisitions. Its growth was driven by the increasing demand for outsourced clinical development services.

Future Projections: Future projections for INC Research as a standalone company are no longer applicable, as it is now part of Syneos Health.

Recent Initiatives: Recent initiatives before the merger included expanding its geographic reach, investing in new technologies, and focusing on strategic partnerships.

INC Research, before merging into Syneos Health, was a mid-sized CRO leveraging expertise and customer relationships. While it showed considerable growth, competition remained intense, and it faced risks from client concentration and market fluctuations. Its acquisition by Syneos Health was a strategic move to broaden capabilities and market presence. Careful execution would be required to realize the full benefits of the merger. Overall, INC Research was a solid company in a growing industry, that sought the value of merging into a larger organization.

Data Sources:

• SEC Filings (prior to merger)
• Company Website (prior to merger)
• Industry Reports
• Market Analysis Reports

Disclaimers:

This analysis is based on publicly available information and historical data prior to INC Research's merger with inVentiv Health to form Syneos Health. Future performance is not guaranteed.