Quintiles Transnational Forms New Ownership Team

On December 21, 2007, Triangle-based Quintiles Transnational Corp., a leading provider of a broad range of professional services in drug development, financial partnering and commercialization for the pharmaceutical, biotechnology and healthcare industries, announced the formation of a new investor partnership. The new partnership was formed to support the company's continued growth under the leadership of current Chairman and CEO Dennis Gillings and the Quintiles' management team.

Dr. Gillings and global private investment firms Bain Capital and TPG Capital are the lead investors in the partnership, with 3i also becoming a significant investor. Temasek Holdings remains a Quintiles' investor. One Equity Partners (OEP), the private equity arm of JPMorgan Chase, will sell its stake in the company to the new investor partnership. OEP, with Dr. Gillings, led the original acquisition of the company along with TPG Capital in September 2003.

Smith Anderson served as lead counsel to Quintiles in this transaction.