Quintiles Transnational Holdings Inc. ("Quintiles") (NYSE:Q) announced today the launch of a secondary public offering of its common stock. Certain shareholders of Quintiles (the "Selling Shareholders") are offering for sale to the public 15 million shares of Quintiles' common stock owned by them. The Selling Shareholders will grant to the underwriters of the secondary offering an option to purchase up to 2.25 million shares of additional common stock. Quintiles is not offering any stock in this transaction and will not receive any proceeds from the sale of the shares by the Selling Shareholders in this offering.
Quintiles Transnational Holdings provides biopharmaceutical development services and commercial outsourcing services. Co. is positioned at the intersection of business services and healthcare and conducts business in approximately 100 countries. Co. usees the breadth and depth of its service offerings, Co.'s global footprint and its therapeutic, scientific and analytics expertise to help its biopharmaceutical customers, as well as other healthcare customers, navigate the increasingly complex healthcare environment to improve efficiency and to deliver better healthcare outcomes. Co. offers its services through two reportable segments: Product Development and Integrated Healthcare Services.
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