Syneos Health, Inc. (NASDAQ:SYNH) Q4 2022 Earnings Call Transcript

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And so really excited about that integrated Clinical and Commercial Solution to drive future opportunity with that sixth preferred providership. So we are looking at repeat business, Patrick. We are looking at improving our RFP flow. But the feedback from customers has been very, very positive. I will turn it over to, Michael, who will maybe give you some even more specifics around what he’s seeing.

Michael Brooks: Right. So, Patrick, as we have been putting the investments into our Clinical data applications to help us better model out scenarios, as we have been looking to consolidate Clinical and Commercial capabilities into novel solutions for enrollment and data monitoring, we are getting positive feedback from customers. In fact, I was just talking to a CEO earlier this week who has been around the industry for a long time, and he remarks to me, love the strategy, love the project team. We will help Clinical and Commercial then combined together is what you are doing. And he’s really bullish on where we are going as an organization and we are seeing those green shoots just across the Board, how we are winning, how we are talking to clients is very different than it was at the beginning of last year.

Patrick Donnelly: Great. Thank you. And maybe just quickly on the IRA impact in Clinical, anything you see there, Michelle? Thanks.

Michelle Keefe: Sure. So we haven’t really heard it impacting anything on the Clinical side right now. That hasn’t been really the conversation. I think it’s more — you have the leadership at pharma looking at the impact of this long-term across their portfolio. But, no, we haven’t really seen it have any significant impact on the Clinical side to-date.

Patrick Donnelly: Appreciate it. Thank you, guys.

Operator: Thank you. And our next question coming from the line of Tucker Remmers with Jefferies. Your line is open.

David Windley: Hi. I think that’s me. It’s David Windley. Thanks for taking my question. Good morning. I wanted to, I guess, first understand around business development. I think I have heard it from enough people to believe that it’s probably true that, I think, Christian kind of cleaned house in your business development organization in September and maybe you could talk about what brought that about, meaning was it — you talked about the inability or the lack of bringing your full solution set to the clients and maybe that was a decision that was born out of that. But I guess, the magnitude of cuts in this development at a time when third quarter bookings were pretty critical is a pretty big decision to make and I wanted to understand the logic behind that, how you are backfilling those seats and where you feel like that team is today?

Michelle Keefe: Hi, David. So from a business development perspective, we took a step back and looked at what it’s going to take for us to put the right people in the right place at the right time to impact the different trends that we are seeing in different markets, right, whether it’s the SMID market, whether it’s the increasing FSP market, whether it’s making sure we have the right talent globally in different locations to take advantage of the opportunities. And so we did redeploy our own talent to different roles and to impact our business development opportunities. We have, as you have heard us say, talk a lot about how we are managing our large pharma relationships, building dedicated teams, making sure that we have strong partnerships at the most senior levels within large pharma, as well as really, it’s about the partnership between our BD team, our therapeutic experts and the project managers that really will help us with repeat business.

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