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<p>[QUOTE="Anonymous, post: 4366440"]It makes no sense to have three staffing companies in the Inventiv portfolio, until you realize they are owned by private equity....look at the profit JLL made on Pharmanet....3 times money...T>Lee is just setting up for sale. They buy kforce which was stated publically at approx 80+M revenues for 50M...much below market except when you look under the covers and realize their trajectory was going steadily down and mother Kforce needed to eject them. They call them an FSP provider, and a CRO...which they are neither, and coming off the Pfizer mess, and layoffs they didn't have an upside. So now you have Pharmanet (a troubled CRO over the past few years), INVENTIV clinical (a name without a face), Med Focus and SmithHanley ...two decreasing staffing firms competing with each other and now Kforce. Putting it all together, you get leverage by decreasing SG&A (layoffs and reductions), and a sale if you can flatten out revenues...a big if. Lilly, Pfizer, Merck,Sanofi, BMS, Novartis, Amgen, J&J and AZ have already picked their providers and I didn't see Inventivs, Kforce or Pharmanets name on any list. Doesn't look good.[/QUOTE]</p><p><br /></p>
[QUOTE="Anonymous, post: 4366440"]It makes no sense to have three staffing companies in the Inventiv portfolio, until you realize they are owned by private equity....look at the profit JLL made on Pharmanet....3 times money...T>Lee is just setting up for sale. They buy kforce which was stated publically at approx 80+M revenues for 50M...much below market except when you look under the covers and realize their trajectory was going steadily down and mother Kforce needed to eject them. They call them an FSP provider, and a CRO...which they are neither, and coming off the Pfizer mess, and layoffs they didn't have an upside. So now you have Pharmanet (a troubled CRO over the past few years), INVENTIV clinical (a name without a face), Med Focus and SmithHanley ...two decreasing staffing firms competing with each other and now Kforce. Putting it all together, you get leverage by decreasing SG&A (layoffs and reductions), and a sale if you can flatten out revenues...a big if. Lilly, Pfizer, Merck,Sanofi, BMS, Novartis, Amgen, J&J and AZ have already picked their providers and I didn't see Inventivs, Kforce or Pharmanets name on any list. Doesn't look good.[/QUOTE]
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Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
CROs
>
CROs - General Discussion
>
What's going on at PharmaNet...?
>
Cafepharma Message Boards | Pharma Sales, Device Sales, Lab Sales
Home
Forums
>
CROs
>
CROs - General Discussion
>
What's going on at PharmaNet...?
>