EQT Private Equity and Goldman Sachs Asset Management
- EQT Private Equity and Goldman Sachs Asset Management are committed to supporting Parexel’s Patients First focus, track record of clinical excellence and dedication to quality
- Newly appointed Board of Directors brings extensive experience in life sciences, digital transformation and innovation to guide the next phase of the transformational journey
- EQT Private Equity and Goldman Sachs Asset Management support existing management team led by CEO Jamie Macdonald
BOSTON and DURHAM, North Carolina, November 15, 2021 (GLOBE NEWSWIRE) – Parexel, a leading global clinical research organization (CRO) focused on the development and delivery of innovative new therapies to advance patient health, announced today the completion of its acquisition by EQT IX fund (“EQT Private Equity”) and funds managed by the Private Equity activity within Goldman Sachs Asset Management (“Goldman Sachs”) of Pamplona Capital Management LP (“Pamplona”) for $ 8.5 billion. Jamie Macdonald will continue to serve as CEO of Parexel, supported by the current management team and the new board of directors of the company, who brings extensive experience in life sciences, digital transformation and the ‘innovation.
“We are delighted to close the transaction and mark the start of the next chapter of Parexel’s success,” said Jamie Macdonald, CEO of Parexel. “We look forward to partnering with our new investors – EQT and Goldman Sachs – and our new board of directors to further strengthen our capacity in the key areas most pressing for our clients. Parexel’s management team and our more than 18,000 colleagues around the world remain united in our Patient First goal and mission to advance global health, and we are excited about this next phase of the journey.
“I look forward to joining the Parexel management team and Jamie, whom I have known for many years, as we accelerate the growth of Parexel, building on its distinguished track record of clinical excellence” , said Sheri McCoy, Chairman of the Board of Directors of Parexel. . “Parexel is a purpose-built company that advances science and improves the health of patients around the world through the provision of world-class clinical research and related services. EQT, Goldman Sachs and our board of directors are are all focused on supporting Parexel in achieving this mission. ”continued Ms. McCoy, who has successfully partnered with EQT on several previous investments and has a long-standing relationship with Goldman Sachs.
The new Parexel Board of Directors includes:
- Ms. Sheri McCoy, Chair of the Board. Ms. McCoy had a distinguished 30-year career with Johnson & Johnson, where she eventually served as Vice President of the Executive Committee, responsible for the company’s pharmaceutical and consumer activities. Ms. McCoy was also CEO of Avon, a global leader in personal care products. Ms. McCoy sits on the boards of several leading healthcare companies, including AstraZeneca, Galderma and Stryker. She will end her term as President of Certara on December 1, 2021, and previously served as President of Aldevron.
- Mr. Jamie Macdonald, CEO of Parexel. Mr. Macdonald brings 25 years of experience leading global biopharmaceutical services companies. Prior to Parexel, Mr. Macdonald was CEO of INC Research, now Syneos Health, where he led the company through a successful IPO. Mr. Macdonald’s background also includes roles at Quintiles, now IQVIA, and Certara, where he served as Chairman of the Board.
- Mr. Eric Liu, Partner and Global Co-Head of Healthcare at EQT. Mr. Liu brings over 20 years of experience in the private equity industry, including previous roles with Warburg Pincus, The Blackstone Group and Draper Fisher Jurvetson. He currently sits on the boards of Certara and Waystar, and previously served on the boards of Aldevron and Press Ganey.
- Ms. Jo Natauri, Partner and Global Head of Healthcare Investments in the Asset Management Division of Goldman Sachs. Ms. Natauri sits on the Company’s Corporate Investment Committee and on the Investment Committee of the Sustainable Investment Group. His previous experience includes being head of investment banking services in the Healthcare group of Goldman Sachs. She currently sits on the boards of MyEyeDr., Mirion, Flywire and MDVIP.
- Mr. Bill Chase, Independent Director. Mr. Chase previously served as AbbVie’s CFO between 2012 and 2019, where he oversaw the spin-off of Abbott Laboratories. Prior to that, Mr. Chase spent 23 years in various financial and strategic roles at Abbott.
- Dr Maykin Ho, Ph.D., independent director. Dr Ho is a former partner of the Goldman Sachs Group, where she was a leading biotechnology research analyst, U.S. healthcare co-lead for global investment research and advisory director for banking services. global investment. Dr Ho served on the board of directors of Parexel when the company was listed on the stock exchange and during the Pamplona ownership. She is currently Venture Partner at Qiming Venture Partners and sits on the boards of Agios Pharmaceuticals, BioMarin, FibroGen and Neumora.
- Ms. Kristin Johnsen, Independent Director. Ms. Johnsen was previously vice president of enterprise services at Microsoft, where she oversaw a 17,000-employee services organization that helps customers navigate digital transformations. Prior to Microsoft, Ms. Johnsen held senior positions at Zkey, CarParts.com, and McKinsey & Company. She sits on the boards of Access Information Management and FoodChain ID.
Parexel supports the development of new innovative drugs to improve patient health. We provide services to help life science and biopharmacy customers around the world turn scientific discoveries into new treatments. From decentralized clinical trials to regulatory advisory services to harnessing real-world knowledge, our therapeutic, technical and functional capacity is built on a deep belief in what we do. Parexel was named “Best Contract Research Organization” in December 2020 by an independent panel of Informa Pharma Intelligence. For more information, visit parexel.com and follow us on LinkedIn, Twitter, and Instagram.
EQT is a dedicated global investment organization with more than € 70 billion in assets under management in 27 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total revenues of around 29 billion euros and over 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.
More information: www.eqtgroup.com
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About Goldman Sachs Asset Management Private Equity
Bringing together traditional and alternative investments, Goldman Sachs Asset Management offers its clients around the world a dedicated partnership focused on long-term performance. As a primary investment area within Goldman Sachs (NYSE: GS), we provide investment and advisory services to the world’s leading institutions, financial advisors and individuals, leveraging our deeply connected global network and bespoke expert information, in all regions and markets, overseeing more than $ 2 trillion in assets under surveillance worldwide as of September 30, 2021. Driven by a passion for our clients’ performance , we seek to build long-term relationships based on conviction, lasting results and shared success over time. Goldman Sachs Asset Management invests in the full range of alternatives, including private equity, development capital, private credit, real estate and infrastructure.
Founded in 1986, Goldman Sachs Asset Management’s Private Equity business has invested more than $ 75 billion since its inception. We combine our global network of relationships, our unique knowledge of markets, sectors and regions, and the global resources of Goldman Sachs to build businesses and accelerate value creation in our portfolios. Follow us on LinkedIn.
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