inVentiv Health Names Dr. Michael McKelvey President, Clinical Division And Executive Vice President, inVentiv Health
BURLINGTON, Mass., June 3, 2015 /PRNewswire/ -- inVentiv Health, a global provider of best-in-class clinical development and comprehensive commercialization services, today announced the appointment of Michael McKelvey, Ph.D., as President, inVentiv Health Clinical Division and Executive Vice President, inVentiv Health. Dr. McKelvey is a seasoned veteran within the CRO industry and has a strong background in clinical development, technology and the development of innovative industry strategies.
Dr. McKelvey has extensive experience in building and managing successful global organizations in the pharmaceutical services, healthcare, information technologies, life sciences, technology and global core laboratory industries.
"Mike McKelvey has proven himself to be a hands-on leader who builds dynamic teams to tackle some of the most critical drug development issues facing the industry," said Jeffrey P. McMullen, Chairman, inVentiv Health Clinical Division and Vice Chairman, inVentiv Health. "His vision is to incorporate innovation into the current drug development process by providing clients with an outsourcing model that embeds both clinical and commercial services."
Throughout his career, Dr. McKelvey has developed a reputation for combining high-level strategic expertise with flawless execution. Before joining inVentiv Health, he served as Executive Vice President and Chief Operating Officer at Aptiv Solutions, a global clinical development services company focused on adaptive clinical trial design. Aptiv Solutions was acquired by ICON in 2014. Prior to Aptiv Solutions, he was President and CEO and a board member of eResearchTechnology, Inc. (ERT), a multi-product provider of clinical research services. Prior to ERT, Dr. McKelvey led PAREXEL's Phase II-IV clinical operations for the Americas, as well as their global data management and global biostatistics groups.
"inVentiv Health's portfolio of comprehensive clinical development and commercialization services offers a unique model for the streamlined delivery of drug development services to the patients who need them the most," said Dr. McKelvey. "I am looking forward to engaging our global network of talented healthcare professionals to identify the best approaches for providing our clients with a competitive advantage."
The inVentiv Health Clinical Leadership team, including Greg Skalicky, Chief Commercial Officer, Rick Shimota, Chief Financial Officer and Gregg Dearhammer, Chief Operating Officer, will continue in their roles, supporting Dr. McKelvey to help achieve the organization's objectives.
"It's a great time to have Mike join the organization," said Michael Bell, Chairman and CEO, inVentiv Health. "His experience in global expansion, technology solutions and integration initiatives will serve us well. He'll be a tremendous asset to our Executive Leadership team."
The inVentiv Health Executive Leadership team is comprised of Michael Bell, Chairman and CEO, inVentiv Health, Michael Griffith, President, inVentiv Health Commercial Division and Executive Vice President, inVentiv Health and now Dr. McKelvey. Jeffrey McMullen will continue in his role as Chairman, inVentiv Health Clinical Division and Vice Chairman, inVentiv Health.
Dr. McKelvey holds a Ph.D. and M.A. in business economics from the Wharton School at the University of Pennsylvania and an A.B. degree in economics from Williams College.
About inVentiv Health
inVentiv Health is a global provider of best-in-class comprehensive clinical development and commercialization services, seamlessly linking the capabilities of a leading, global Clinical Research Organization (CRO) with a unique Contract Commercial Organization (CCO). inVentiv Health helps clients improve performance, reduce risk and speed much-needed therapies to market. With 13,000 employees providing services to clients in 70 countries, our global scale and broad expertise make us an attractive strategic partner for companies developing and delivering medicines in a complex operating, regulatory and reimbursement environment. Our clients include more than 550 life sciences companies, including all 20 of the largest biopharmaceutical companies in the world. inVentiv Health, Inc. is privately owned by inVentiv Group Holdings, Inc., an organization sponsored by affiliates of Thomas H. Lee Partners, L.P., Liberty Lane Partners and members of the inVentiv management team.
inVentiv Health brings business strategy to science and scientific expertise to business for the better treatment of patients worldwide. For more information, visit inVentivHealth.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks that may cause our performance to differ materially. These forward-looking statements reflect our current views about future events and are subject to risks, uncertainties and assumptions. We wish to caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement. Such factors include, without limitation: the impact of our substantial level of indebtedness on our ability to generate sufficient cash to fulfill our obligations under our existing debt instruments or our ability to incur additional indebtedness; the impact of customer project delays, cancellations and terminations and our ability to sufficiently increase our revenues and manage expenses and capital expenditures to permit us to fund our operations; the impact of any future acquisitions; the impact of any change in our current credit ratings or the ratings of our debt securities on our relationships with customers, vendors and other third parties; the impact of any additional leverage we may incur on our ratings and the ratings of our debt securities; our ability to continue to comply with the covenants and terms of our debt instruments and to access sufficient capital under our credit agreement or from other sources of debt or equity financing to fund our operations; the impact of any default by any of our credit providers; our ability to accurately forecast costs to be incurred in providing services under fixed price contracts; our ability to accurately forecast insurance claims within our self- insured programs; the potential impact on pharmaceutical manufacturers, including pricing pressures, from healthcare reform initiatives or from changes in the reimbursement policies of third-party payers; our ability to grow our existing client relationships, obtain new clients and cross-sell our services; the potential impact of financial, economic, political and other risks, including interest rate and exchange rate risks, related to conducting business internationally; our ability to successfully operate new lines of business; our ability to manage our infrastructure and resources to support our growth, including through outsourced service providers; our ability to successfully identify new businesses to acquire, conclude acquisition negotiations and integrate the acquired businesses into our operations, and achieve the resulting synergies; any disruptions, impairments, or malfunctions affecting software as well as excessive costs or delays that may adversely impact our continued investment in and development of software; the potential impact of government regulation on us and on our clients; our ability to comply with all applicable laws as well as our ability to successfully adapt to any changes in applicable laws on a timely and cost effective basis; our ability to recruit, motivate and retain qualified personnel; the impact of impairment of goodwill and intangible assets and the factors leading to such impairments; consolidation in the pharmaceutical industry; changes in trends in the healthcare and pharmaceutical industries or in pharmaceutical outsourcing, including initiatives by our clients to perform services we offer internally; our ability to convert backlog into revenue; the potential liability associated with injury to clinical trial participants; the impact of the adoption of certain accounting standards; and our ability to maintain technological advantages in a variety of functional areas, including sales force automation, electronic claims surveillance and patient compliance. Holders of our debt instruments are referred to reports provided to investors from time to time and the offering memoranda provided in connection with the issuance of our notes for further discussion of these risks and other factors.
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SOURCE inVentiv Health, Inc.