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Healthcare M&A and Valuation
News and Insights
Thermo Fisher Acquires Clario (~19.7x EBITDA)
On October 29, 2025, Thermo Fisher Scientific Inc. (NYSE: TMO) announced a definitive agreement to acquire Clario Holdings, Inc., a leading global provider of endpoint data solutions for clinical trials, from a shareholder group led by Astorg, Nordic Capital, Novo Holdings and Cinven for approximately $8.875 billion in cash at closing, with additional deferred and contingent payments of up to ~$525 million tied to future performance. The transaction, subject to customary re
Oct 30, 20252 min read
Pharmaceutical Services EBITDA Multiples: CDMO Sterling Pharma Solutions Receives Investment From PE Firms (~14.1x EBITDA)
Sterling Pharma Solutions, a pharmaceutical contract development and manufacturing organization (CDMO), received a significant minority...
May 25, 20231 min read
Pharmaceutical Services EBITDA Multiples: Syneos Health Acquired by PE Firms (~9.7x EBITDA)
Syneos Health, Inc. , an integrated biopharmaceutical solutions organization, announced that it has entered into a definitive agreement...
May 11, 20231 min read
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