Quintiles Transnational Forms New Ownership Team with Current Investors Gillings, TPG and Temasek Joined by Bain Capital and 3i

New Investor Partnership Co-led by Founder and CEO Dennis Gillings, Bain

Capital and TPG

    RESEARCH TRIANGLE PARK, N.C., Dec. 21 /PRNewswire/ -- Quintiles
 Transnational Corp. today announced the formation of a new investor
 partnership to support the company's continued growth under the leadership
 of current Chairman and CEO Dennis Gillings, CBE, and the management team.
 Gillings and global private investment firms Bain Capital and TPG Capital
 are the lead investors in the partnership, with 3i also becoming a
 significant investor. Temasek Holdings remains an investor in Quintiles.
 
     As part of the transaction, One Equity Partners (OEP), the private
 equity arm of JPMorgan Chase ( JPM), will sell its stake in the
 company to the new investor partnership. OEP, with Gillings, led the
 original acquisition of Quintiles along with TPG Capital in September 2003.
 Terms of the transaction, expected to close in January 2008, were not
 disclosed, and the company said it is incurring no new debt as a result of
 the deal.
 
     "Our new investor partnership is a strong reinforcement of Quintiles'
 brand and growth strategy," Gillings said, "and has been spurred by our
 record performance. We are pleased to move forward with our financial
 partners Bain Capital, TPG, 3i and Temasek. The strength of our capital
 structure and partnership with these leading global investors underscore
 our unsurpassed ability to bring innovative solutions to the pharmaceutical
 and biotech industries. I also want to thank One Equity Partners for their
 contributions over the past four years."
 
     Jonathan Coslet, a Partner at TPG, said: "We are pleased to remain
 Quintiles' partner through the next stage of its growth in helping pharma
 and biotech transform their business models. Dennis and his team have done
 a remarkable job in building Quintiles into the leading global drug
 development, commercialization and strategic partnering company."
 
     John Connaughton, a Managing Director at Bain Capital, stated: "We are
 very excited to sponsor the next phase of development for Quintiles, a
 market leader well positioned for continued success in the highest growth
 segments and regions of the world. We believe Quintiles will continue to
 play a critical role in bringing healthcare advances and innovations to
 patients in need. We have been very impressed with management, and look
 forward to supporting their efforts to advance the company's global
 leadership."
 
     Robin Marshall, a partner at 3i, said, "3i is delighted to partner with
 Quintiles in the next stage of its development. Quintiles is a world class
 business which will continue to have a huge impact in the healthcare
 industry. 3i will leverage its extensive global healthcare network to help
 Quintiles continue its growth."
 
     About Quintiles Transnational
 
     Quintiles Transnational Corp. is powering the next generation of
 healthcare by providing a broad range of professional services in drug
 development, financial partnering and commercialization for the
 pharmaceutical, biotechnology and healthcare industries. With about 20,000
 employees and offices in more than 50 countries, it is focused on providing
 customer-centric solutions that are the gold standard of the industry. For
 more information, please visit the company's web site at www.qtrn.com.
 
     About Bain Capital
 
     Bain Capital (www.baincapital.com) is a global private investment firm
 that manages several pools of capital including private equity, venture
 capital, public equity and leveraged debt assets with more than $65 billion
 in assets under management. Since its inception in 1984, Bain Capital has
 made private equity investments and add-on acquisitions in over 250
 companies around the world, and has a team of almost 200 professionals
 dedicated to investing in and supporting its portfolio companies. Bain
 Capital has a long history of investing in healthcare, with investments in
 more than 50 companies including HCA, Warner Chilcott, CRC Health Group,
 Stericycle, M|C Communications, Wesley Jessen, and Physio Control.
 Headquartered in Boston, Bain Capital has offices in New York, London, Hong
 Kong, Shanghai, Tokyo and Munich.
 
     About TPG Capital
 
     TPG Capital is the global buyout group of TPG, a leading private
 investment firm founded in 1992, with more than $35 billion of assets under
 management and offices in San Francisco, London, Hong Kong, New York,
 Minneapolis, Fort Worth, Melbourne, Menlo Park, Moscow, Mumbai, Beijing,
 Shanghai, Singapore and Tokyo. TPG Capital has extensive experience with
 global public and private investments executed through leveraged buyouts,
 recapitalizations, spinouts, joint ventures and restructurings. Please
 visit www.tpg.com.
 
     About 3i
 
     Established in 1945, 3i is an international leader in private equity
 and venture capital with assets of $16 billion. 3i invests across Europe,
 North America and Asia. Our competitive advantage comes from our
 international network with more than 250 investment professionals in 14
 countries, unrivaled sector depth and an extensive portfolio of
 approximately 750 companies. These underpin the value that we deliver to
 our portfolio and to our shareholders. Please visit www.3i.com.
 
     About Temasek Holdings
 
     Incorporated in 1974, Temasek Holdings is an Asia investment firm
 headquartered in Singapore. Temasek has a multinational staff of 300
 people. Supported by affiliates and offices around Asia, it manages a
 diversified S$164 billion (US$108 billion) portfolio, focused primarily in
 Asia. Temasek is a shareholder and investor in diverse sectors such as
 banking & financial services, real estate, transportation & logistics,
 infrastructure, telecommunications & media, bioscience & healthcare,
 education, consumer & lifestyle, engineering & technology, as well as
 energy & resources.
 
 
 

SOURCE Quintiles Transnational Corp.