Covington Advises Veritas Capital in $7.1B Acquisition of Syneos Health

Covington Advises Veritas Capital in $7.1B Acquisition of Syneos Health

May 10, 2023

WASHINGTON—Covington is advising Veritas Capital in its agreement to acquire Syneos Health as part of a consortium of private investment firm affiliates. The transaction is valued at approximately $7.1 billion, including outstanding debt.

Veritas Capital is a longstanding technology investor with a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide technology and technology-enabled solutions to government and commercial customers worldwide.

Syneos Health is a leading fully integrated biopharmaceutical solutions organization that translates clinical, medical affairs and commercial insights into outcomes for customers. Using the latest technologies and advanced business practices, it accelerates the delivery of biopharmaceutical products to patients worldwide.

Scott Freling led the Covington team advising Veritas on regulatory matters. Other team members included Steve Bartenstein and Caroline Garth (trade controls), Don Ridings (anticorruption), and Paul Rowley (government contracts).