Local Tech Wire

RALEIGH, N.C. – Privately held , a global life science company services firm based in Raleigh, is being acquired by a private equity firm and a retirement plan.

Avista Capital Partners, which is based in New York, and the Ontario teachers’ pension Plan announced the deal Thursday morning.

The deal is worth some $600 million, according to Bloomberg news.

INC employs some 2,000 people across 40 countries. It provides services such as the conduct of clinical trials for pharmaceutical firms.

The Ontario pension plan made the deal through its Teachers’ Private Capital investment group.

INC is currently owned by Crosspoint Venture Partners and Adams Street Partners.

“INC Research has an excellent reputation amongst its premier customer base for quality service and therapeutic expertise, and is well positioned to continue to expand its global footprint and capabilities as a leading contract research organization,” said David Burgstahler, president of Avista, in a statement. “We look forward to partnering with the existing management team to support INC Research’s next phase of accelerated growth."

James ogle, chief executive officer at INC Research, and his management team will stay in place, according to the announcement.

"This is an exciting time for INC Research, and we are thrilled to be partnering with Avista Capital Partners and Teachers’ Private Capital as we embark on the next phase of the Company’s development," Ogle said. "Avista Capital Partners and Teachers’ Private Capital are well-regarded investors in healthcare, and we look forward to benefitting from their extensive industry knowledge and experience. We feel confident that these investment partners will enhance the longstanding support our company has offered to help customers bring drugs to market and improve world health."

INC focuses on Phase I-IV clinical trials for pharmaceutical and biotech firms.

Avista is based in New York with offices in Houston and London.

In June 2009, INC acquired the clinical trials business operations of MDS Pharma Services for some $50 million. Some 800 employees were involved in those operations. INC will have some 2,000 employees and maintain operations in some 40 countries.

In October of 2007, INC announced plans to expand its work force by nearly 1,100 employees by the end of 2011.

For Thursday’s full announcement,

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