Private equity firm Blackstone Inc. is nearing a deal to buy Advarra Inc. from Genstar Capital in a transaction that would value the drug-research services firm at about $5 billion, according to a people with knowledge of the matter.
Genstar acquired a majority stake in Columbia, Maryland-based Advarra from Linden Capital Partners in 2019. It had hired advisers to help it explore a potential sale of Advarra or an initial public offering, Bloomberg News reported in February.
Advarra helps get drugs to market by reviewing clinical research to ensure trials are safe for participants and comply with regulatory requirements. The company says it supported all of the coronavirus vaccine clinical trials under the Trump administration’s Operation Warp Speed, which used government resources to fast-track vaccine development.
Read more: BNN Bloomberg
Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.