The Firm recently represented PRA Health Sciences, Inc. (“PRA”) and the selling stockholder, a fund affiliated with Kohlberg Kravis Roberts & Co. L.P., in connection with a secondary offering of 6,500,000 shares of common stock of PRA by the selling stockholder for aggregate gross proceeds of approximately $657 million.
PRA Health Sciences, Inc. is one of the world’s leading global contract research organizations, or CROs, by revenue, providing outsourced clinical development services to the biotechnology and pharmaceutical industries. PRA’s global clinical development platform includes approximately 70 offices across North America, Europe, Asia, Latin America, South Africa, Australia and the Middle East and over 15,800 employees worldwide. Since 2000, PRA has performed approximately 3,700 clinical trials worldwide, has worked on marketed drugs across several therapeutic areas and conducted the pivotal or supportive trials that led to U.S. Food and Drug Administration or international regulatory approval of more than 75 drugs.
The Simpson Thacher team included Richard Fenyes, Sung Bum Cho and Christine Turner (Capital Markets); Jonathan Lindabury, Jennifer Levitt and Mimi Cheng (Banking and Credit); David Rubinsky and Pasco Struhs (Executive Compensation and Employee Benefits); Jennifer Nadborny (Public Company Advisory Practice); and Jonathan Cantor and Caroline Phillips (Tax).