INC Research Holdings Inc., a leading global Phase I–IV Contract Research Organization, and inVentiv Health Inc., a leading, privately held, global CRO and Contract Commercial Organization, announced that their Boards of Directors have unanimously approved a definitive merger agreement pursuant to which their businesses would combine in an all-stock transaction, creating a leading global biopharmaceutical solutions organization. Based upon the closing price of INC Research common stock at May 9, 2017, the transaction values inVentiv at an enterprise value of approximately $4.6bn, and the combined company at an enterprise value of approximately $7.4bn.