PRA Health Sciences to launch $550 million add-on term A on Thursday

By Sara Rosenberg

New York, Aug. 11 – PRA Health Sciences Inc. is scheduled to hold a bank call on Thursday to launch its proposed $550 million senior secured add-on term loan A, according to a market source.

PNC Bank is the lead bank on the deal.

Proceeds will be used to fund the acquisition of Symphony Health Solutions Corp., a Conshohocken, Pa.-based provider of data, analytics and consulting solutions to the life sciences market, from Symphony Technology Group for $530 million in cash.

Closing is expected in the third quarter, subject to regulatory clearances and other customary conditions.

PRA is a Raleigh, N.C.-based clinical research organization.

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