Page 27 Bain Capital Healthcare
P. 27
had made significant investments in
its global footprint, which created
significant strategic differentiation.
In addition, pharmaceuticals were
being transformed by the growing
prominence of biotech companies,
which are heavier users of
outsourced clinical trial management
than traditional large pharmaceutical
companies. Bain Capital had a vision
of being a partner to a company that
was positioned better than any other
to benefit from these trends.
Quintiles’ founder, Dennis Gillings,
and his original investor group
had begun to think about ways
of growing beyond the core CRO
business. Impressed by Bain
Capital’s strategic advisory heritage
and tenure as healthcare and
life sciences investors, Quintiles
bypassed an auction in favor of
proprietary transaction with the firm
in 2008.
Bain Capital immediately began to
help Quintiles’ management team
think about strategic adjacencies,
about how to go further as a partner
to pharmaceutical and biotech
companies, and how to win market
share.
“One of those strategic moves
was centered on data,” says Chris
Gordon, Co-Head of Bain Capital’s
Global Private Equity business and
Global Head of Healthcare. “Quintiles
was sitting in the nexus of all these
interesting drug trials, and everyone
wants more information on how to
drive better patient outcomes at
lower costs, and how to gain better
efficacy with medication.”
Quintiles started discussions with
a public company called IMS,
the leading provider of data on
pharmaceutical prescriptions. The
core thesis behind the transaction
and the newly combined platform
was that value to patients, providers,
pharmaceutical companies and the
overall healthcare ecosystem could
be created through the blending of
clinical trial and real world data in
an integrated platform. Quintiles, by
now a public company, merged with
IMS in 2013 and was renamed IQVIA.
The fully integrated and synergized
company has built one of the world’s
largest portfolios of healthcare
information, with deep therapeutic,
domain, regulatory and commercial
analytic expertise.
“We were able to do something
that the pharmaceutical companies
couldn’t do for themselves, which
was to use data to recognize how
trials can be enrolled more quickly,
and then, ultimately, to finish
earlier—to bring drugs to market in a
much more rapid fashion,” says John
Connaughton, Co-Managing Partner
of Bain Capital.
During the COVID crisis, IQVIA’s
team has also led in disseminating
information and working closely with
customers to alleviate the disruption
of clinical trials. From the company’s
IPO in 2013 to Bain Capital’s exit in
2021, IQVIA added nearly $1 billion in
EBITDA and doubled revenue.
“The company has continued to grow
on a nice trajectory and has been
able to leverage that data footprint to
have a more compelling CRO offering
and vice versa,” says Gordon.
We were able to do something that the
pharmaceutical companies couldn’t do for
themselves, which was to use data to recognize how
trials can be enrolled more quickly, and then, ultimately,
to finish earlier—to bring drugs to market in a much
more rapid fashion.
John Connaughton
Co-Managing Partner / Bain Capital
27
Bain Capital Healthcare Life Sciences
its global footprint, which created
significant strategic differentiation.
In addition, pharmaceuticals were
being transformed by the growing
prominence of biotech companies,
which are heavier users of
outsourced clinical trial management
than traditional large pharmaceutical
companies. Bain Capital had a vision
of being a partner to a company that
was positioned better than any other
to benefit from these trends.
Quintiles’ founder, Dennis Gillings,
and his original investor group
had begun to think about ways
of growing beyond the core CRO
business. Impressed by Bain
Capital’s strategic advisory heritage
and tenure as healthcare and
life sciences investors, Quintiles
bypassed an auction in favor of
proprietary transaction with the firm
in 2008.
Bain Capital immediately began to
help Quintiles’ management team
think about strategic adjacencies,
about how to go further as a partner
to pharmaceutical and biotech
companies, and how to win market
share.
“One of those strategic moves
was centered on data,” says Chris
Gordon, Co-Head of Bain Capital’s
Global Private Equity business and
Global Head of Healthcare. “Quintiles
was sitting in the nexus of all these
interesting drug trials, and everyone
wants more information on how to
drive better patient outcomes at
lower costs, and how to gain better
efficacy with medication.”
Quintiles started discussions with
a public company called IMS,
the leading provider of data on
pharmaceutical prescriptions. The
core thesis behind the transaction
and the newly combined platform
was that value to patients, providers,
pharmaceutical companies and the
overall healthcare ecosystem could
be created through the blending of
clinical trial and real world data in
an integrated platform. Quintiles, by
now a public company, merged with
IMS in 2013 and was renamed IQVIA.
The fully integrated and synergized
company has built one of the world’s
largest portfolios of healthcare
information, with deep therapeutic,
domain, regulatory and commercial
analytic expertise.
“We were able to do something
that the pharmaceutical companies
couldn’t do for themselves, which
was to use data to recognize how
trials can be enrolled more quickly,
and then, ultimately, to finish
earlier—to bring drugs to market in a
much more rapid fashion,” says John
Connaughton, Co-Managing Partner
of Bain Capital.
During the COVID crisis, IQVIA’s
team has also led in disseminating
information and working closely with
customers to alleviate the disruption
of clinical trials. From the company’s
IPO in 2013 to Bain Capital’s exit in
2021, IQVIA added nearly $1 billion in
EBITDA and doubled revenue.
“The company has continued to grow
on a nice trajectory and has been
able to leverage that data footprint to
have a more compelling CRO offering
and vice versa,” says Gordon.
We were able to do something that the
pharmaceutical companies couldn’t do for
themselves, which was to use data to recognize how
trials can be enrolled more quickly, and then, ultimately,
to finish earlier—to bring drugs to market in a much
more rapid fashion.
John Connaughton
Co-Managing Partner / Bain Capital
27
Bain Capital Healthcare Life Sciences
