IQVIA Announces Repurchase of Common Stock
DANBURY, Conn. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)-- IQVIA Holdings Inc. (“IQVIA”) (NYSE:IQV) today announced that it has agreed to purchase an aggregate of 1,000,000 shares (the “Shares”) of its common stock in a private transaction from certain of its existing stockholders (the “Repurchase”). In addition to the Repurchase, affiliates of TPG Global, LLC, investment funds associated with Bain Capital Investors, LLC and CPP Investment Board Private Holdings Inc. informed IQVIA that they have sold 4,000,000 shares of IQVIA’s common stock pursuant to Rule 144 under the Securities Act of 1933, as amended, for a total of 5,000,000 shares.
IQVIA expects to fund the Repurchase with cash on hand and borrowings from its revolving credit facility. The Repurchase is being conducted under IQVIA’s existing stock repurchase authorization.
Certain statements in this press release are forward-looking statements. These statements involve a number of risks, uncertainties and other factors, including the failure to consummate the purchase of the Shares.
IQVIA (NYSE:IQV) is a leading global provider of advanced analytics, technology solutions and contract research services to the life sciences industry. Formed through the merger of IMS Health and Quintiles, IQVIA applies human data science — leveraging the analytic rigor and clarity of data science to the ever-expanding scope of human science — to enable companies to reimagine and develop new approaches to clinical development and commercialization, speed innovation, and accelerate improvements in healthcare outcomes. Powered by the IQVIA CORE™, IQVIA delivers unique and actionable insights at the intersection of large-scale analytics, transformative technology and extensive domain expertise, as well as execution capabilities. With approximately 61,000 employees, IQVIA conducts operations in more than 100 countries.